OUTFRONT Media Inc. (NYSE:OUT) Q4 2023 Results Conference Call February 21, 2024 4:30 PM ET
Company Participants
Stephan Bisson - Vice President, Investor Relations
Jeremy Male - Chief Executive Officer
Matthew Siegel - Chief Financial Officer
Conference Call Participants
Jason Bazinet - Citi
Cameron McVeigh - Morgan Stanley
Jim Goss - Barrington Research
Richard Choe - JPMorgan
Operator
Hello, and welcome to the OUTFRONT Fourth Quarter 2023 Earnings Conference Call. My name is Harry, and I'll be coordinating your call today. [Operator Instructions]
And I will now hand you over to Stephan Bisson, Vice President of Investor Relations at OUTFRONT to begin. Stephan, please go ahead.
Stephan Bisson
Good afternoon, and thank you for joining our 2023 fourth 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 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 been 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 filings, including our 2022 Form 10-K as well as our 2023 Form 10-K, which we expect to file this week.
We will refer to certain non-GAAP financial measures on this call. Any references made to OIBDA 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 of prior period reconciliation.
Let me now turn the call over to Jeremy.
Jeremy Male
Thanks, Stephan, and good afternoon, everyone. We're pleased to be here sharing our fourth quarter results and 2024 outlook.
Before digging into Q4, I'd like to quickly highlight some of our accomplishments from 2023. Revenues finished up 3% year-over-year on an organic basis with both U.S. Media and other, which is essentially our business in Canada, up by the same rate. Our U.S. billboard business, by far, our largest in terms of revenue, was up 4% for the year on an organic basis. As has been the case for the last couple of years, this growth was predominantly driven by higher rates resulting from robust demand for billboard advertising and our expanding digital revenue.