Now in its 25th year, Lights On Afterschool is the only national rally for afterschool programs. Throughout October, programs across the country are holding events at schools, 4-Hs, Boys & Girls Clubs, YMCAs, museums, public parks, community centers, and other venues to celebrate the critical support these programs provide to youth and families. The events send the message that demand for afterschool programs is high, too many youth are without programs, and the end of federal pandemic relief funding will f ...

SAN ANTONIO, Sept. 10, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) announced today that David Sailer, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. and Jason Menzel, Senior Vice President, Treasurer of Clear Channel Outdoor Holdings, Inc., are scheduled to present at Deutsche Bank's 32nd Annual Leveraged Finance Conference on Tuesday, September 24, 2024, at 9:20 a.m., Mountain Standard Time. The live audio webcast, as well as the replay, will be available on Clea ...

BETHESDA, Md., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (NASDAQ: EGBN), the Bethesda-based holding company of EagleBank, one of the largest community banks in the Washington D.C. area, today announced Chief Credit Officer Janice "Jan" Williams will be retiring from EagleBank on June 30, 2025. Jan's longstanding dedication and exceptional contributions have significantly driven the bank's strategic growth over the past two decades. "It has been my immense pleasure to work alongside Jan for so ma ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2024 was $559 million, a 5.2% increase year-over-year, or 5.4% excluding foreign exchange movements [5][11] - Loss from continuing operations was $48 million, higher than the previous year due to impairment charges related to Latin America businesses [11] - Adjusted EBITDA was $143 million, roughly flat compared to the prior year, while AFFO was $25 million, a 12.2% decline year-over-year [11] Business Line Data and Key Metrics Changes - America segment revenue was $290 million, up 0.9%, with digital revenue accounting for 35.3% of America revenue, increasing by 4.1% to $102 million [12] - Airports segment revenue increased by 21.4% to $86 million, with digital revenue making up 56% of Airports revenue, up 14.6% [13] - Europe-North revenue rose by 10.1% to $165 million, with digital revenue accounting for 56.8% of total revenue, up 17.9% [14] Market Data and Key Metrics Changes - The Airports business experienced strong demand, with record air travel days and expectations for continued growth through 2025 [7] - Europe-North showed healthy growth, particularly in Sweden and the UK, despite losing a transit contract in Norway [14] Company Strategy and Development Direction - The company is focused on simplifying its organization, emphasizing the America and Airports segments while continuing the sales processes for Europe-North and Latin America [20] - There is a commitment to exiting Europe at a fair price, with ongoing negotiations for the sale of Europe-North [9][36] - The company is enhancing its cash position and plans to organically deleverage its balance sheet in the coming years [9] Management's Comments on Operating Environment and Future Outlook - Management noted improving business trends and remains on track to achieve full-year guidance, with expectations for a decent ad market in the second half of the year [6][28] - The company is optimistic about the impact of political advertising on its business, anticipating potential opportunities from upcoming elections [31][52] - Management expressed confidence in the fundamentals of demand for its assets, despite broader economic uncertainties [57] Other Important Information - The company has modestly increased its full-year guidance for consolidated revenue, adjusted EBITDA, and AFFO due to strong performance in Airports and Europe-North [8][18] - Capital expenditures for Q2 totaled $23 million, a decrease from the prior year, with a focus on investing in digital capabilities [16] Q&A Session Summary Question: National vs Local Ad Trends - Management indicated that the national ad market is competitive, with a need for tailored solutions, while local markets vary significantly [22][24] Question: AFFO Growth Beyond 2024 - Management expressed optimism about AFFO growth in the second half of 2024, driven by increased EBITDA [25] Question: Cross-Selling Between Airports and Billboards - Management noted limited success in cross-selling between Airports and roadside advertising, with more success seen in the reverse direction [27] Question: Cancellations as an Indicator of Advertising Downturn - Management reported no significant uptick in cancellations and a positive outlook for the ad market in the second half of the year [28] Question: Credit Losses - Management acknowledged occasional credit losses but emphasized effective cash collection practices [34] Question: Strategic Review for Europe-North - Management confirmed ongoing negotiations for the sale of Europe-North, emphasizing the importance of achieving fair value [36] Question: New Advertisers in Airports - Management highlighted a mix of existing and new verticals for new advertisers in Airports, with positive feedback on advertising efficacy [40][41] Question: Risks of Recession - Management expressed confidence in the current economic environment, noting no significant signs of downturn [50][52] Question: Changes Due to Work from Home Trends - Management observed that traffic and audience levels have not diminished post-pandemic, maintaining the value of roadside assets [53][54] Question: Interest in Europe-North Properties - Management indicated sustained interest in Europe-North properties, with ongoing dialogues with potential buyers [55]

Core Insights - Clear Channel Outdoor (CCO) reported revenue of $558.54 million for Q2 2024, a year-over-year decline of 12.4% [1] - The EPS for the same period was -$0.06, an improvement from -$0.08 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $563.75 million, resulting in a surprise of -0.93% [1] - The company experienced an EPS surprise of -50.00%, with the consensus EPS estimate being -$0.04 [1] Revenue Performance - Geographic Revenue from Europe-North was $164.74 million, exceeding the three-analyst average estimate of $158.38 million [3] - Geographic Revenue from the Americas was $290.21 million, slightly below the average estimate of $296.31 million, representing a year-over-year change of +0.9% [4] - Revenue from Other sources was $17.38 million, significantly lower than the average estimate of $23.37 million, reflecting a year-over-year decline of 22.2% [5] - Revenue from Airports was reported at $86.22 million, surpassing the average estimate of $85 million [6] Adjusted EBITDA Metrics - Adjusted EBITDA from Other sources was $0.01 million, falling short of the three-analyst average estimate of $3.75 million [7] - Adjusted EBITDA for Corporate expenses was -$35.80 million, worse than the average estimate of -$33.53 million [8] - Adjusted EBITDA from Airports was $19.08 million, exceeding the average estimate of $17.40 million [9] Stock Performance - Shares of Clear Channel Outdoor have declined by 9% over the past month, compared to a 5.9% decline in the Zacks S&P 500 composite [9] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [9]

Clear Channel Outdoor (CCO) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -50%. A quarter ago, it was expected that this outdoor advertising company would post a loss of $0.18 per share when it actually produced a loss of $0.17, delivering a surprise of 5.56%. Over the last four quarters, ...

SAN ANTONIO, Aug. 7, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter ended June 30, 2024. "We delivered second quarter consolidated revenue of $559 million, an increase of 5.2%, or 5.4% excluding movements in foreign exchange rates, with growth in our America, Airports and Europe-North segments," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Our performance reflects healthy demand from ...

PART I—FINANCIAL INFORMATION [Item 1. Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) Presents CCOH's unaudited condensed consolidated financial statements for Q2 2024 and H1 2024, covering balance sheets, statements of loss, comprehensive loss, changes in stockholders' deficit, and cash flows [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) | (In thousands) | June 30, 2024 (Unaudited) | December 31, 2023 | |:---------------|:--------------------------|:------------------| | Total Current Assets | $853,674 | $957,401 | | Total Assets | $4,544,363 | $4,722,475 | | Total Current Liabilities | $832,970 | $883,728 | | Total Liabilities | $8,134,940 | $8,173,218 | | Total Stockholders' Deficit | $(3,590,577) | $(3,450,743) | - Total Assets decreased by **$178.1 million** from December 31, 2023, to June 30, 2024, primarily due to decreases in cash and cash equivalents, accounts receivable, and property, plant and equipment[6](index=6&type=chunk) - Total Stockholders' Deficit increased by **$139.8 million**, indicating a further deterioration in equity position[6](index=6&type=chunk) [Consolidated Statements of Loss](index=5&type=section&id=Consolidated%20Statements%20of%20Loss) | (In thousands, except per share data) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:--------------------------------------|:---------------------------------|:---------------------------------|:-------------------------------|:-------------------------------| | Revenue | $558,541 | $530,820 | $1,040,293 | $968,240 | | Operating income | $56,737 | $52,439 | $89,129 | $43,053 | | Consolidated net loss | $(38,634) | $(36,579) | $(127,717) | $(72,001) | | Net loss attributable to the Company | $(39,170) | $(37,297) | $(128,837) | $(72,209) | - Revenue increased by **5.2%** for the three months and **7.4%** for the six months ended June 30, 2024, compared to the prior year periods[8](index=8&type=chunk) - Operating income increased significantly for both periods, with a **89.1%** increase for the six months ended June 30, 2024, primarily due to lower corporate expenses and depreciation/amortization, despite impairment charges[8](index=8&type=chunk) [Consolidated Statements of Comprehensive Loss](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Loss) | (In thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:---------------|:---------------------------------|:---------------------------------|:-------------------------------|:-------------------------------| | Net loss attributable to the Company | $(39,170) | $(37,297) | $(128,837) | $(72,209) | | Other comprehensive loss | $(4,615) | $(37,183) | $(16,411) | $(73,725) | | Comprehensive loss attributable to the Company | $(43,785) | $(74,480) | $(145,243) | $(145,936) | - Other comprehensive loss significantly decreased for both the three and six months ended June 30, 2024, compared to 2023, primarily due to the absence of reclassification adjustments for realized gains from cumulative translation adjustments related to sold businesses, which were substantial in 2023[10](index=10&type=chunk) [Consolidated Statements of Changes in Stockholders' Deficit](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Deficit) | (In thousands, except share data) | Balances at December 31, 2023 | Balances at June 30, 2024 | |:----------------------------------|:------------------------------|:--------------------------| | Common Shares Issued | 494,061,048 | 502,696,833 | | Total Stockholders' Deficit | $(3,450,743) | $(3,590,577) | | Accumulated Deficit | $(6,780,875) | $(6,909,712) | | Accumulated Other Comprehensive Loss | $(227,344) | $(243,750) | - The total stockholders' deficit increased from **$(3,450,743) thousand** at December 31, 2023, to **$(3,590,577) thousand** at June 30, 2024, primarily driven by the net loss attributable to the Company and foreign currency translation adjustments[12](index=12&type=chunk)[13](index=13&type=chunk) - Common shares issued increased by **8,635,785 shares** during the six months ended June 30, 2024, mainly due to the release of stock-based awards and exercise of stock options[12](index=12&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | (In thousands) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:---------------|:-------------------------------|:-------------------------------| | Net cash used for operating activities | $(3,972) | $(54,386) | | Net cash (used for) provided by investing activities | $(50,828) | $13,360 | | Net cash used for financing activities | $(5,711) | $(18,968) | | Net decrease in cash, cash equivalents and restricted cash | $(62,604) | $(54,954) | | Cash, cash equivalents and restricted cash at end of period | $197,937 | $243,728 | - Net cash used for operating activities significantly decreased from **$(54.4) million** in 2023 to **$(4.0) million** in 2024, indicating improved operational cash flow[16](index=16&type=chunk) - Investing activities shifted from a net cash provider of **$13.4 million** in 2023 to a net cash user of **$(50.8) million** in 2024, primarily due to lower net proceeds from disposition of businesses and higher capital expenditures[16](index=16&type=chunk) [Condensed Notes to Consolidated Financial Statements](index=9&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) [Note 1. Basis of Presentation](index=9&type=section&id=Note%201.%20Basis%20of%20Presentation) The financial statements are prepared in accordance with U.S. GAAP for interim periods, consolidating CCOH and its subsidiaries, with results potentially impacted by seasonality - The consolidated financial statements include Clear Channel Outdoor Holdings, Inc. and its subsidiaries, with intercompany transactions eliminated[18](index=18&type=chunk) - Interim financial statements are prepared under U.S. GAAP, and results may not be indicative of the full year due to seasonality[19](index=19&type=chunk) - The Europe-South segment is reported as discontinued operations, with assets and liabilities presented separately on the balance sheets and results as a separate component of consolidated net loss[21](index=21&type=chunk) [Note 2. Dispositions and Discontinued Operations](index=9&type=section&id=Note%202.%20Dispositions%20and%20Discontinued%20Operations) The Company completed sales of its Switzerland, Italy, and France businesses in 2023, recognizing significant gains, and expects to sell its Spain business in 2024, reclassifying these as discontinued operations - In 2023, the Company sold its Switzerland business for **$84.9 million** cash, recognizing a **$96.4 million** gain, and its Italy business for **$4.3 million** cash, recognizing an **$11.2 million** gain[22](index=22&type=chunk) - The Company expects to sell its Spain business in 2024, which, along with the former Switzerland, Italy, and France businesses, constitutes the Europe-South segment, reclassified as discontinued operations[23](index=23&type=chunk) | (In thousands) | June 30, 2024 | December 31, 2023 | |:---------------|:--------------|:------------------| | Current assets of discontinued operations | $139,657 | $131,313 | | Current liabilities of discontinued operations | $62,944 | $68,778 | | (In thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:---------------|:---------------------------------|:---------------------------------|:-------------------------------|:-------------------------------| | Revenue from discontinued operations | $31,975 | $106,419 | $54,456 | $214,434 | | Income from discontinued operations, net of income taxes | $9,679 | $2,227 | $9

Exhibit 99.1 Clear Channel Outdoor Holdings, Inc. Reports Results for the Second Quarter of 2024 ---------------- San Antonio, TX, August 7, 2024 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter ended June 30, 2024. "We delivered second quarter consolidated revenue of $559 million, an increase of 5.2%, or 5.4% excluding movements in foreign exchange rates, with growth in our America, Airports and Europe-North segments," said Scott Wells, Chi ...

SAN ANTONIO, July 8, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") will release 2024 second quarter results before the market opens on Wednesday, August 7, 2024, by 7:00 a.m. and will host a conference call to discuss the results at 8:30 a.m. Eastern Time. A replay of the webcast will be available after the live conference call on the "Events & Presentations" section of the Company's website. SOURCE Clear Channel Outdoor Holdings, Inc. The conference call number is 86 ...