Outfront Media (OUT) FY2019 results: revenue $1.8 billion, up 11.0% on the year
Outfront Media Inc. (OUT) reported revenue of $1.8 billion for fiscal 2019, the year ended 31 December 2019, up 11.0% on the year before. Net income was $140 million, up 29.8%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$1.8 billion
+11.0% on the year
FY2012FY2019
Operating margin
17.3%
14.6% a year earlier
FY2012FY2019
Net income
$140 million
+29.8% on the year
FY2012FY2019
Diluted EPS
$0.97
+29.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,782
1,606
1,520
+11.0%
Selling, general and administrative
372
330
262
+12.6%
Operating income
309
235
242
+31.6%
Operating margin
17.3%
14.6%
15.9%
Interest expense
135
126
117
+7.3%
Pre-tax income
146
109
125
+34.1%
Income tax
10.9
4.9
4.1
+122.4%
Effective tax rate
7.5%
4.5%
3.3%
Net income
140
108
126
+29.8%
Net margin
7.9%
6.7%
8.3%
Diluted EPS
$0.97
$0.75
$0.90
+29.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
277
214
249
+29.2%
Capital expenditure
89.9
82.3
70.8
+9.2%
Free cash flow
187
132
178
+41.7%
Free cash flow margin
10.5%
8.2%
11.7%
Cash from investing
-176
-90.4
-135
Cash from financing
-94.3
-118
-132
Depreciation and amortisation
146
142
190
+3.2%
Share-based compensation
22.3
20.2
20.5
+10.4%
Dividends paid
208
204
202
+2.1%
Dividend per share
$1.44
$1.44
$1.44
0.0%
Diluted shares, weighted
143m
140m
139m
+2.6%
Shares outstanding at period end
144m
140m
139m
+2.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,094
1,103
1,181
-0.8%
Non-controlling interest
32.6
42.5
45.5
-23.3%
Redeemable equity
0.0
n/a
n/a
Debt
2,417
2,310
2,225
+4.7%
Operating lease liabilities
1,285
0.0
n/a
Other liabilities
554
374
356
+48.1%
Total liabilities and equity
5,382
3,829
3,808
+40.6%
Fixed assets
666
653
662
+2.0%
Goodwill
2,083
2,080
2,128
+0.2%
Intangible assets
551
537
581
+2.6%
Cash and equivalents
59.1
52.7
48.3
+12.1%
Receivables
290
265
231
+9.5%
Other assets
1,733
241
158
+618.2%
Total assets
5,382
3,829
3,808
+40.6%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.