UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32663 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Revenue Performance - Consolidated revenue for Q1 2025 was $334.2 million, a 2.2% increase compared to Q1 2024[7] - America segment revenue increased by 1.8% to $254.2 million, while Airports segment revenue rose by 4.0% to $80.0 million[7] - The company reported revenue of $334.18 million for the three months ended March 31, 2025, an increase of 2.0% compared to $326.84 million in the same period of 2024[31] Profitability Metrics - Adjusted EBITDA for Q1 2025 was $79.3 million, down 12.5% from the previous year[7] - Operating income for the same period was $44.99 million, compared to $43.89 million in 2024, reflecting a year-over-year increase of 2.5%[31] - Consolidated net income for the three months ended March 31, 2025, was $63.21 million, compared to a loss of $89.08 million in the same period of 2024[31] - Adjusted EBITDA for the same period was $79.3 million, down from $90.6 million year-over-year, reflecting a decrease of approximately 12.9%[47] - Funds From Operations (FFO) for the three months ended March 31, 2025, was $(37.9) million, compared to $(49.1) million in 2024, indicating a year-over-year improvement of 22.4%[49] - Adjusted Funds From Operations (AFFO) for the three months ended March 31, 2025, was $(22.9) million, compared to $(12.8) million in 2024, showing a decline of approximately 78.5%[49] Operational Improvements - Loss from continuing operations improved to $(55.3) million, a 20.1% decrease compared to $(69.2) million in Q1 2024[20] - Corporate expenses decreased by 33.8% to $19.8 million, primarily due to $9.9 million in insurance proceeds[19] - The company has successfully eliminated approximately $35 million in annual corporate expenses and continues to focus on reducing debt[4] - Corporate expenses for the three months ended March 31, 2025, were $19.8 million, a decrease from $29.9 million in the same period of 2024, representing a reduction of approximately 33.8%[48] Future Guidance - The company expects Q2 2025 consolidated revenue to be between $393 million and $408 million, representing a 4% to 8% increase year-over-year[14] - Full-year 2025 consolidated revenue guidance remains unchanged at $1.562 billion to $1.607 billion, with a 4% to 7% increase expected[14] - The Company expects a loss from continuing operations guidance for the full year of 2025 to be between $(70) million and $(60) million[50] - The guidance for Adjusted EBITDA for the full year of 2025 is projected to be between $490 million and $505 million[50] Cash and Debt Management - The company had $401.3 million in cash and cash equivalents as of March 31, 2025, with a net increase of $233.6 million in cash during the quarter[26] - The company fully prepaid $375.0 million of the CCIBV Term Loan Facility on March 31, 2025, and expects to prioritize using remaining net proceeds to retire advantageous debt[27] - The company expects cash interest payments to be approximately $313 million for the remainder of 2025 and $381 million in 2026[29] Asset and Equity Position - Total assets decreased to $3.99 billion as of March 31, 2025, from $4.80 billion as of December 31, 2024[34] - The company reported a stockholders' deficit of $3.42 billion as of March 31, 2025, compared to a deficit of $3.64 billion at the end of 2024[34] Digital Advertising Strategy - The Company is focused on expanding its digital advertising platform and integrating data analytics to enhance its advertising capabilities[53] - Digital revenue increased by 6.4% to $89.6 million, driven by new contracts and digital billboard deployments[17] Display Operations - As of March 31, 2025, the company operated over 61,400 advertising displays across 80 Designated Market Areas in the U.S.[23] - As of March 31, 2025, the total number of displays in the America segment was 61,482, with a net decrease of 96 displays in the first quarter[24] Real Estate Transactions - The net gain on the disposition of real estate for the three months ended March 31, 2025, included a gain of $139.6 million primarily from the sales of businesses in Mexico, Peru, Chile, and Europe-North segment[49]

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Cautionary Statement Concerning Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance, achievements, guidance, goals and/o ...

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. has received all necessary regulatory approvals for the sale of its Europe-North segment to Bauer Radio Limited, with the transaction expected to close on March 31, 2025 [1][2]. Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation through digital billboards, data analytics, and programmatic capabilities to enhance advertising effectiveness [3]. - The company connects advertisers with millions of consumers monthly by leveraging its diverse portfolio of advertising assets [3].

Core Insights - Clear Channel Outdoor Americas (CCOA) has appointed Eric Hamme as president of its Chicago market, which is the third-largest media market in the U.S. [1][2] - Hamme brings over 19 years of experience in advertising and sales, focusing on customer-centric strategies that drive revenue [2][4] - CCOA aims to enhance its out-of-home (OOH) advertising strategies and build long-term relationships with clients and stakeholders in Chicago [3][4] Company Overview - CCOA's OOH media footprint reaches 92% of the DMA 18+ population weekly in Chicago [3] - The company operates a diverse portfolio of roadside and transit assets, including significant advertising contracts at Chicago Midway International Airport and Chicago O'Hare International Airport, which see monthly passenger counts of 1.8 million and 6.7 million, respectively [3][4] - CCOA is committed to investing in growth strategies that propel the OOH industry forward, leveraging technology and data to enhance advertising effectiveness [3][7] Leadership Background - Eric Hamme has been with CCOA for over seven years, previously serving as local sales manager for Milwaukee and rising to vice president of sales [4][5] - His extensive career includes roles in radio, TV, and digital advertising at various companies, showcasing a strong background in sales and business operations [5][6] - Hamme's educational background includes degrees in journalism and communications from the University of Wisconsin [6]

Company Overview - Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is a leader in the out-of-home advertising industry, focusing on innovation and expanding its advertising platform [2] - The company enhances its offerings through the growth of digital billboards and displays, as well as the integration of data analytics and programmatic capabilities [2] - Clear Channel connects advertisers with millions of consumers each month by leveraging its diverse portfolio of assets [2] Upcoming Events - David Sailer, the Chief Financial Officer of Clear Channel Outdoor Holdings, is scheduled to present at Deutsche Bank's 33rd Annual Media, Internet & Telecom Conference on March 11, 2025, at 1:00 p.m. Eastern Time [1] - The presentation will be available via live audio webcast and replay on the company's investor website [1]

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Q4 2024 Earnings Conference Call February 24, 2025 8:30 AM ET Company Participants Eileen McLaughlin - Vice President, Investor Relations Scott Wells - Chief Executive Officer David Sailer - Chief Financial Officer Conference Call Participants Cameron McVeigh - Morgan Stanley Daniel Osley - Wells Fargo Jonnathan Navarrete - TD Cowen Avi Steiner - JPMorgan Patrick Sholl - Barrington Research Eileen McLaughlin Ladies and gentlemen, thank you for standing by. Wel ...

Clear Channel Outdoor Holdings 2024 Fourth Quarter Results February 24, 2025 Safe harbor statement and other information Forward-Looking Statements Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Clear Channel Outdoor Holdings, Inc. and its ...

Revenue and Growth - Consolidated revenue increased by $71.0 million, or 5.0%, in 2024 compared to 2023, reaching $1,505,230, driven by higher demand and continued investment in digital infrastructure [188]. - Digital revenue for 2024 was $622,251, representing 41.3% of total consolidated revenue, up from 40.6% in 2023 [192]. - America revenue increased by $42.7 million, or 3.9%, in 2024 compared to 2023, driven by increased demand for printed and digital billboards [212]. - Digital revenue in America increased by 7.0% from 2023, reaching $415.1 million in 2024, accounting for 36.3% of total segment revenue [214]. - Airports segment experienced revenue growth in 2024, driven by increased demand and record-breaking daily passenger volumes through U.S. airports [179]. - Airports revenue increased by $49.9 million, or 16.0%, in 2024 compared to 2023, supported by strong advertising demand and investments in digital media infrastructure [220]. - Airports digital revenue reached $207.2 million in 2024, representing 57.3% of total segment revenue [221]. - Total revenue for 2024 was $1,505,230, an increase of 4.9% compared to $1,434,186 in 2023 [314]. Expenses and Losses - Consolidated direct operating expenses increased by $20.2 million, or 3.1%, in 2024, primarily due to higher site lease expenses and increased production costs [194]. - Consolidated selling, general and administrative expenses increased to $252,907 in 2024, up from $235,470 in 2023 [188]. - Consolidated SG&A expenses increased by $17.4 million, or 7.4%, in 2024 compared to 2023, primarily due to higher employee compensation costs [197]. - The company reported a consolidated net loss of $175,878 in 2024, compared to a net loss of $308,816 in 2023 [188]. - Loss from discontinued operations was $52.1 million in 2024, compared to $149.4 million in 2023 and $105.3 million in 2022 [226]. - Interest expense, net, increased by $3.5 million in 2024 compared to 2023, due to higher average interest rates on the Term Loan Facility [207]. - The company incurred interest expense of $401,541 in 2024, slightly up from $398,050 in 2023 [314]. Cash Flow and Liquidity - In 2024, net cash provided by operating activities was $79.7 million, an increase of $48.5 million compared to 2023 [251][252]. - The company had cash, cash equivalents, and restricted cash of $172,072 thousand at the end of 2024, down from $260,541 thousand at the end of 2023 [318]. - As of December 31, 2024, the company had $164.3 million in cash and cash equivalents, including $54.6 million from discontinued operations [249]. - The company received net cash proceeds of $13.7 million from asset dispositions in 2024 [254]. - In 2023, net cash proceeds from business and asset dispositions totaled $59.8 million, including $84.9 million from the sale of the former Switzerland business [255]. Strategic Transactions and Divestitures - The company completed the sale of its businesses in Switzerland, Italy, and France in 2023, using net proceeds to improve liquidity and financial flexibility [173]. - The company expects to close the sale of its Europe-North segment to Bauer Radio Limited for $625 million in 2025, with proceeds used to repay outstanding debt [175]. - The company classified its Europe-South segment as discontinued operations in 2023, with ongoing sales processes for remaining European and Latin American businesses [170]. - The company anticipates gross cash proceeds of $625.0 million from the sale of its Europe-North segment businesses, expected to close in 2025 [257]. Assets and Liabilities - Current assets increased to $1,659,044 in 2024 from $957,401 in 2023, marking a growth of 73.3% [313]. - Total liabilities rose to $8,444,046 in 2024, compared to $8,173,218 in 2023, indicating an increase of 3.3% [313]. - The company’s accumulated deficit increased to $(6,960,129) in 2024 from $(6,780,875) in 2023 [313]. - Total stockholders' deficit was $(3,639,783) in 2024, compared to $(3,450,743) in 2023, reflecting a deterioration of 5.5% [313]. Impairments and Goodwill - In 2024, an impairment charge of $18.1 million was recognized for long-lived assets in discontinued operations, primarily related to the Brazil business, which also incurred a $44.4 million loss classified as held for sale [277]. - No impairments were recognized on goodwill in 2024, with a fair value assessment based on a discounted cash flow approach and a discount rate of 10.0% for continuing operations [280][281]. - The goodwill balance of $143.9 million for the Europe-North reporting unit is included in current assets of discontinued operations as of December 31, 2024 [308]. Capital Expenditures - Capital expenditures for continuing operations in 2024 totaled $80.7 million, down from $101.5 million in 2023 and $110.2 million in 2022 [241]. - Capital expenditures for 2024 were $142,395 thousand, a decrease from $166,594 thousand in 2023 [318]. Economic and Market Conditions - The company is closely monitoring macroeconomic uncertainties, including inflation and interest rates, which have impacted operations in recent years [180]. - The company has taken steps to manage inflation impacts by increasing advertising rates for out-of-home displays, although the precise impact on margins remains uncertain [297].