The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Cameron McVeigh - Morgan Stanley - Analyst
: Hey, good morning. You guys -- morning. You provided a relatively-wide guidance range for the first quarter. Is this conservatism or is there more
uncertainty out there now? Just curious any color you could provide there and maybe the macro expectations that are baked into the guide would
be helpful. And then, secondly, if you could just walk through an update of how you're thinking margins should trend this year now that you've
exited a few territories? Thanks.
Question: Cameron McVeigh - Morgan Stanley - Analyst
: Makes sense. Thank you.
Question: Daniel Audley - Wells Fargo - Analyst
: Thank you. Good morning. You mentioned national ads are flat year over year in Q4. So I was wondering what your expecting expectation for
National is in '25? And what categories are seeing strength or weakness and add a follow up?
Question: Daniel Audley - Wells Fargo - Analyst
: That's helpful. Thank you.
Question: Jonnathan Navarrete - TD Cowen - Analyst
: Hey, good morning. Just want to touch on the MTA Billboard contract. Should we still be expecting 2% growth there for the American segment?
And can we talk a little bit about the CapEx even with the ramp related to the contract?
Question: Jonnathan Navarrete - TD Cowen - Analyst
: Got it. Thanks. And just the last one is on airports, local revenue during the fourth quarter. I think I've calculated there was a decrease there, year
to year. I'm just wondering if maybe you could talk a little bit about that and if there's a trend that we should be aware of? Thank you.
Question: Avi Steiner - JPMorgan - Analyst
: Hi, good morning. Thank you for taking the questions. I have two here if I can. One curious what the implied guide for corporate is in '25, and I
apologize if I missed it. I hopped on a couple of minutes late. And then relatedly I guess as more assets get sold here and you get down to your
kind of core-US focus. I'm curious if there's upside to that corporate number and I have one follow up. Thank you.
Question: Avi Steiner - JPMorgan - Analyst
: That is very helpful. Thank you. And then my last one. And thank you for the time, Scott. You've been talking about getting down to a core US
focused business for a long time. And while it took a little longer than expected, to your credit we're really right on the doorstep here. So I guess
the question is how do you tackle the balance sheet or how do you think about tackling the balance sheet from here while investing as you want
in the US business? Are they mutually exclusive, can you do both and thank you again for the time?
Question: Avi Steiner - JPMorgan - Analyst
: No, heck of a teaser thank you very much for the time. Safe travels. Thank you.
Question: Patrick Sholl - Barrington Research - Analyst
: Hi, good morning. A question on the capital spending plans. I was just wondering with the focus with now with the greater focus on the US. Do
you anticipate sort of accelerating the pace of digital board installations? And I was also curious on how I guess trade uncertainty has kind of
impacted those investment plans?
Question: Patrick Sholl - Barrington Research - Analyst
: Okay, and then just within the digital revenues that you generate on both billboards and airports. Is there sort of a breakdown that you could
provide on like the mix of local versus national within that?
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