OUTFRONT Media Inc.

Hello, everyone. Thank you for joining us and welcome to Outfront Media's second quarter 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Stephan Bisson, SVP Investor Relations. Stephan, please go ahead.

Good afternoon. and thank you for joining our 2026 second quarter earnings call. With me on the call today are CEO Nick Brien and CFO Matthew Siegel. After a discussion of our financial results, we'll open the lines for a question and answer session. Our comments today will refer to the earnings release and slide presentation that you can find on the investor relations section of our website, outfront.com. After today's call has concluded, an audio archive replay will be available there as well. This conference call may include forward-looking statements. Relevant factors that could cause actual results to differ materially from these forward-looking statements are listed in our earnings materials and in our SEC file, including our 2025 Form 10-K, as well as our Q2 2026 Form 10-Q, which we expect to file tomorrow. We will refer to certain non-GAAP financial measures on this call. Any references to OIBDA made today will be on an adjusted basis. Reconciliations of OIBDA and other non-GAAP financial measures are in the appendix of the slide presentation, the earnings release, and on our website, which also includes presentations with prior period reconciliations. With that, let me hand it over to Nick.

Thanks, Stephan, and thank you, everyone, for joining us today. We're excited to be here reporting our second quarter results, which came in better than we had anticipated when we last spoke in May. given continued strong demand, focused execution, and a successful World Cup, which generated over $35 million of revenue during the quarter and over $50 million overall. As you can see on slide three, it summarizes our headline numbers. Consolidated revenues were up 14%, driven by 32% growth in transit and an 8% growth in billboard. While Consolidated Oybida was up 29% to $160 million, and ASFO grew 45% to $121 million. As I just mentioned, these results include about $35 million of FIFO revenues, of which we believe approximately half were incremental to our typical business. Slide 4 shows our more detailed revenue results. Billboard revenues were up 8%. Included in our comparative billboard results for the final time is our previously announced exit of a large, marginally profitable billboard contract in LA, as the revenues and expenses of this contract are still included in our reported 2025 financial statements. Excluding the billboard revenue generated by this contract, billboard revenue growth would have been up 9.4%. The strongest billboard categories in quarter two were tech, including the rapidly growing AI, legal and medical. Transit grew a robust 32% and was again led by New York MTA which was up an impressive 48% during the quarter. Our strongest transit categories were tech, entertainment and financial. Slide five shows our detailed billboard revenue. On a reported basis, Digital billboard revenues were up 17.6% and static and other billboard revenues were up 3.8% during the quarter. However, excluding the revenue generated by the exited contract, digital billboard revenues would have been up over 21% and static and other billboard revenues would have been up 4.3%. We estimate that FIFA contributed approximately 19 million of revenue to our billboard results this quarter. Slide 6 shows our detailed transit revenue, which grew over 32% during the quarter, led by the MTA strengths. Our digital transit revenues were up nearly 36% to about $68 million, and static transit revenues were up over 29%. We estimate the FIFA contributed approximately $17 million to our transit revenues in the second quarter. Three of the FIFA-related campaigns I would highlight from across our business are the New York, New Jersey host committee subway wraps of the tournament's local participants' flags within the New York subway system, Nike's complete takeover of the Bryant Square subway station, and the massive soccer player wall skate in Koch's hometown of Atlanta, which you can see on the cover of our slide presentation. Slide seven. shows our combined digital revenue performance, which grew over 23% in the quarter and represented about 37% of total revenues compared to 34% in the comparable period last year. Even more impressive, excluding the aforementioned LA contracts, digital revenues would have grown by 26%. Programmatic and digital direct automated sales increased nearly 50% during the quarter, representing 20% of total digital revenue, up from about 17% a year ago. Moving on, the breakdown of commercial and enterprise revenues can be seen on slide eight. Commercial revenues were up 15% during the quarter, driven by strength in technology, entertainment, and legal. Enterprise was up about 12% during the second quarter, with much of a strength being driven by tech, CPG, and health medical. Slide nine shows our billboard yield growth, which was up 12% year over year to $3,344 per month, principally driven by a focused effort to establish higher rates across our assets and boosted by FIFA. Summing up, we are very pleased with our quarter two performance. and confident that we will maintain this positive momentum into the second half, which I will discuss in greater detail later. With that, let me now hand it over to Matt to review the rest of our financials.