Outfront Media Inc. (NYSE:OUT) Q2 2022 Results Conference Call August 3, 2022 4:30 PM ET
Company Participants
Stephan Bisson - VP, IR
Jeremy Male - Chairman, CEO
Matthew Siegel - EVP, CFO
Conference Call Participants
Jason Bazinet - Citi
Ian Zaffino - Oppenheimer
Richard Choe - JPMorgan
Cameron McVeigh - Morgan Stanley
Operator
Good day, everyone, and welcome to the Second Quarter 2022 Earnings Conference Call. This call is being recorded.
At this time, I'd like to turn the conference over to Stephan Bisson. Please go ahead, sir.
Stephan Bisson
Good afternoon, and thank you for joining our 2022 second quarter earnings call. With me on the call today are Jeremy Male, Chairman and Chief Executive Officer; and Matthew Siegel, Executive Vice President and Chief Financial Officer. After a discussion of our financial results, we'll open the line for a question-and-answer session.
Our comments today will refer to the earnings release and a slide presentation that you can find on the Investor Relations section of our website, outfrontmedia.com. After today's call is concluded, an audio archive 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 filings, including our 2021 Form 10-K and our June 30, 2022, 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.
Let me now turn the call over to Jeremy.
Jeremy Male
Thanks, Stephan, and thank you, everyone, for joining us today. We're pleased to be here sharing our second quarter results, which illustrate that the strength observed in our business during Q1 has continued nicely through Q2. Advertiser demand has remained strong, pushing billboard yields to a Q2 record and driving a continuing recovery in transit, as riders return to the rails and buses that allow cities to function and flourish.
Turning to the headline numbers on Slide 3. You'll see the total consolidated revenue grew 32%, including our acquisition in Poland, and 31.6% on an organic basis when excluding these acquired assets, right in line with the expectation we provided back in early May. Our strong revenue growth led to around $55 million year-over-year improvement in both OIBDA and AFFO during the quarter, which grew to $125 million and $93 million, respectively.