OUTFRONT Media Inc. OUT
The biggest changes in the 10-K filed Feb 26, 2026, in management's words
10-K, Item 7This fiscal year against the last, and the sentences in the MD&A where management explains each change. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
Big change, FY to Dec 31, 2025 vs Dec 31, 2024
“Other operating expenses decreased $16.6 million, or 70%, in 2025 compared to 2024, primarily driven by the impact of the Transaction, partially offset by higher costs related to third-party digital equipment sales.”
Read it in the 10-K
Net income
Big change, FY to Dec 31, 2025 vs Dec 31, 2024
“Provision for income taxes decreased $9.0 million, or 82%, in 2025 compared to 2024, primarily due to the impact of the Transaction.”
Read it in the 10-K
“Net income before allocation to redeemable and non-redeemable noncontrolling interests decreased $111.7 million, or 43%, in 2025, compared to 2024, primarily driven by a gain on disposition related to the Transaction in 2024, lower billboard revenues, and restructuring charges in 2025, partially offset by impairment charges incurred in 2024, higher transit revenues and lower interest expense.”
Read it in the 10-K
Cash from operations
Change, FY to Dec 31, 2025 vs Dec 31, 2024
“Cash provided by operating activities increased $8.4 million, or 3%, in 2025 compared to 2024, primarily due to a higher net income, as adjusted for non-cash items, partially offset by the timing of receivables.”
Read it in the 10-K
Revenue
Change, FY to Dec 31, 2025 vs Dec 31, 2024
“The decrease in billboard property lease expenses as a percentage of total revenues in 2025 compared to 2024 is primarily due to lower variable billboard property lease costs driven by higher relative revenue performance in advertising markets that have lower variable billboard property lease costs and lower revenue performance in advertising markets that have higher variable billboard property lease costs (see Item 8., Note 5.”
Read it in the 10-K
“Transit franchise expenses, as a percentage of total revenues in 2025 compared to 2024 was primarily impacted by the Transaction in 2024, partially offset by higher guaranteed minimum annual payments to the MTA due to inflation and lower Billboard revenues.”
Read it in the 10-K
What management said, year by year
The cause given in each 10-K, 2 fiscal years, newest first · MD&A (Item 7)
Each bar is how the line changed that year (from the same 10-K's XBRL). Under it, the sentence in that year's MD&A that names the line, a direction and a cause, word for word. A year with no sentence says so.
Revenue
2 of 2 years explained-
FY 2025 +0.0%
“The decrease in billboard property lease expenses as a percentage of total revenues in 2025 compared to 2024 is primarily due to lower variable billboard property lease costs driven by higher relative revenue performance in advertising markets that have lower variable billboard property lease costs and lower revenue performance in advertising markets that have higher variable billboard property lease costs (see Item 8., Note 5.”
Read it in the FY 2025 10-K“Transit franchise expenses, as a percentage of total revenues in 2025 compared to 2024 was primarily impacted by the Transaction in 2024, partially offset by higher guaranteed minimum annual payments to the MTA due to inflation and lower Billboard revenues.”
Read it in the FY 2025 10-K -
FY 2024 +0.6%
“Total revenues increased $10.3 million, or 1%, in 2024 compared to 2023, primarily due to revenue increases in our Billboard and Transit segments, partially offset by the impact of the Transaction.”
Read it in the FY 2024 10-K“Organic revenues increased $67.5 million, or 4%, in 2024 compared to 2023, primarily due to revenue increases in our Billboard and Transit segments.”
Read it in the FY 2024 10-K
Operating margin
2 of 2 years explained-
FY 2025 -7.2 pts
“Other operating expenses decreased $16.6 million, or 70%, in 2025 compared to 2024, primarily driven by the impact of the Transaction, partially offset by higher costs related to third-party digital equipment sales.”
Read it in the FY 2025 10-K -
FY 2024 +37.1 pts
“Other operating expenses decreased $29.1 million, or 55%, in 2024 compared to 2023, primarily driven by the impact of the Transaction and lower costs related to third-party digital equipment sales.”
Read it in the FY 2024 10-K
Cash from operations
2 of 2 years explained-
FY 2025 +2.8%
“Cash provided by operating activities increased $8.4 million, or 3%, in 2025 compared to 2024, primarily due to a higher net income, as adjusted for non-cash items, partially offset by the timing of receivables.”
Read it in the FY 2025 10-K -
FY 2024 +17.7%
“Cash provided by operating activities increased $45.0 million in 2024 compared to 2023, due primarily to decrease in prepaid MTA equipment deployment costs, the timing of receivables and a smaller use of cash related to accounts payable and accrued expenses, driven by lower incentive compensation payments made in 2024 related to prior year performance and higher net income, partially offset by the timing of receivables.”
Read it in the FY 2024 10-K
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K
Sources
The Management's Discussion and Analysis (Item 7) of the latest 10-K, quoted word for word; the changes are computed from the same 10-K's XBRL.
Also
Financials: the numbers year by year.
Work with it
Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/OUT/export.csv") into a cell.