Financial Performance - Consolidated revenue for Q4 2024 was $426.7 million, a 2.6% increase compared to Q4 2023, driven by a 4.1% increase in America segment revenue to $310.7 million[5][7][16] - Airports segment revenue reached $116.0 million in Q4 2024, up 4.3% year-over-year, contributing to a record performance[5][7][16] - Adjusted EBITDA for Q4 2024 was $144.8 million, reflecting a 2.5% increase from the previous year, with America segment adjusted EBITDA at $137.2 million, a 0.7% increase[7][20] - The company reported a net loss from continuing operations of $1.1 million in Q4 2024, compared to a profit of $431,000 in Q4 2023, indicating a significant decline[20] - Total revenue for Q4 2024 was $426.7 million, compared to $416.0 million in Q4 2023, with annual revenue reaching $1.5 billion, up from $1.4 billion[35] - Consolidated net income for the year ended December 31, 2024, was a loss of $175.878 million, compared to a loss of $308.816 million in 2023[56] Future Guidance - The company expects consolidated revenue for Q1 2025 to be between $329 million and $344 million, representing a 1% to 5% increase from the prior year[14] - Full year 2025 consolidated revenue guidance is set between $1.562 billion and $1.607 billion, reflecting a 4% to 7% increase year-over-year[14] - The company expects a loss from continuing operations in 2025 to range between $105 million and $95 million[57] - Adjusted EBITDA guidance for 2025 is projected to be between $490 million and $505 million[57] - FFO from continuing operations for 2025 is expected to be between $37 million and $47 million[58] Asset and Liability Management - Cash and cash equivalents as of December 31, 2024, totaled $164.3 million, including $54.6 million from discontinued operations[30] - The next scheduled debt maturity is in April 2027, with a principal amount of $375 million for the CCIBV Term Loan Facility, which is expected to be prepaid using proceeds from the sale of the Europe-North businesses[32] - Long-term debt slightly increased to $5,660,305 in 2024 from $5,630,294 in 2023, reflecting a marginal growth[43] - Net debt as of December 31, 2024, was $5,550,598, compared to $5,458,518 in 2023, indicating an increase in leverage[43] - The company plans to prepay the full $375 million principal of the CCIBV Term Loan Facility using proceeds from the sale of the Europe-North businesses expected to complete in 2025[46] Operational Highlights - Digital revenue increased by 7.6% to $122.7 million in Q4 2024, driven by new deployments and increased demand[17] - The company operated over 61,800 advertising displays in the U.S. as of December 31, 2024, with a presence in 81 Designated Market Areas, including 43 of the top 50 U.S. markets[23] - The company is focusing on expanding its digital billboard and display capabilities, integrating data analytics and programmatic capabilities[61] Expenses and Cost Management - Direct operating and SG&A expenses for Q4 2024 rose by 2.8% to $256.977 million, with America segment expenses increasing by 6.5%[18] - Corporate expenses for the year ended December 31, 2024, were $(126,904), slightly down from $(129,248) in 2023, indicating cost control efforts[54] Dispositions and Sales - The company completed the sale of its businesses in Mexico, Peru, and Chile for $20 million, with an additional potential earn-out of $1.25 million[10] - A definitive agreement was reached to sell the Europe-North segment for $625 million, expected to close in 2025, with proceeds aimed at debt repayment[9] - Revenue for CCIBV in Q4 2024 decreased by 13.7% to $224.2 million from $259.8 million in Q4 2023, primarily due to the sale of the business in France[28] - The company reported a net loss on the disposition of real estate of $44.4 million related to the classification of the Brazil business as held for sale[56] Conference and Communication - The company will host a conference call on February 24, 2025, to discuss these results[60]

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. is focusing on enhancing its U.S. operations by divesting from lower-margin international segments, aiming to improve cash flow and reduce leverage on its balance sheet [2][6][9]. Financial Performance - For Q4 2024, consolidated revenue reached $426.7 million, a 2.6% increase from Q4 2023, with the America segment generating $310.7 million, up 4.1% [3][13]. - Airports revenue also saw a 4.3% increase, totaling $116.0 million [3][14]. - Adjusted EBITDA for Q4 2024 was $144.8 million, reflecting a 2.5% increase year-over-year [4][21]. Strategic Initiatives - The company has entered into agreements to sell its Europe-North segment for $625 million and has completed the sale of its businesses in Mexico, Peru, and Chile for $20 million, with additional earn-out potential [6][7]. - The proceeds from these sales will be used to reduce debt, specifically to prepay $375 million of outstanding term loans [6][33]. Future Guidance - For Q1 2025, the company expects consolidated revenue between $329 million and $344 million, representing a 1% to 5% increase from the prior year [10]. - For the full year 2025, consolidated revenue is projected to be between $1.562 billion and $1.607 billion, indicating a 4% to 7% growth [10]. Operational Metrics - As of December 31, 2024, the company operated over 61,800 advertising displays in the U.S., with a presence in 81 Designated Market Areas [25][26]. - Digital revenue increased by 7.6% to $122.7 million, driven by new contracts and strong demand [16][22]. Debt and Liquidity - As of December 31, 2024, the company had $164.3 million in cash and cash equivalents, with total debt amounting to $5.66 billion [30][42]. - The company anticipates cash interest payments of approximately $422 million in 2025, with plans to reduce this through debt prepayments from sale proceeds [33][34].

Core Viewpoint - Clear Channel Outdoor (CCO) is expected to report a significant decline in quarterly earnings and revenues, with earnings per share (EPS) projected at $0.01, an 80% decrease year-over-year, and revenues forecasted at $449 million, a 29% decline compared to the previous year [1] Earnings Projections - Analysts have maintained the consensus EPS estimate for the quarter over the last 30 days, indicating a reassessment of initial estimates [1][2] - Revisions to earnings projections are crucial for predicting investor behavior and stock price performance [2] Revenue Estimates - 'Revenue- Other' is estimated to be $24.14 million, reflecting a year-over-year decrease of 21.1% [4] - 'Revenue- Airports' is projected at $114.13 million, indicating a slight increase of 2.6% from the same quarter last year [4] - 'Geographic Revenue- Europe-North' is expected to reach $194.67 million, a 1.5% increase year-over-year [4] - 'Geographic Revenue- Americas' is forecasted at $314.56 million, showing a 5.4% increase from the prior-year quarter [5] Adjusted EBITDA Estimates - 'Adjusted EBITDA- Airports' is anticipated to be $28.53 million, down from $30.11 million in the same quarter last year [5] - 'Adjusted EBITDA- Other' is estimated at $3.75 million, compared to $7.80 million a year ago [6] - 'Adjusted EBITDA- Europe-North' is projected to be $51.02 million, slightly down from $52.45 million in the previous year [6] - 'Adjusted EBITDA- Americas' is expected to reach $140.65 million, up from $136.16 million year-over-year [6] Stock Performance - CCO shares have declined by 6.7% over the past month, contrasting with the Zacks S&P 500 composite's increase of 4.7% [7] - CCO holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [7]

Core Insights - Clear Channel Outdoor Holdings, Inc. is scheduled to present at Morgan Stanley's Technology, Media & Telecom Conference on March 4, 2025, at 2:35 p.m. Pacific Time [1] - The presentation will be available via live audio webcast and replay on the company's investor website [1] Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation [2] - The company is expanding its advertising platform through digital billboards and displays, as well as integrating data analytics and programmatic capabilities [2] - By leveraging its diverse portfolio, the company connects advertisers with millions of consumers each month [2]

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. has completed the sale of its businesses in Mexico, Peru, and Chile to Global Media US LLC, enhancing its focus on the American and Airports segments while improving its liquidity position [1][2][3]. Financial Summary - The company received $20 million in cash at closing, based on a $34 million Enterprise Value, and is eligible for an additional $1.25 million earn-out, subject to customary adjustments [2]. - The sale will be reported as discontinued operations in accordance with U.S. Generally Accepted Accounting Principles, affecting the presentation of prior period amounts in the financial statements [4]. Strategic Goals - The sale aligns with the company's strategic goals to optimize its portfolio and strengthen its balance sheet, as stated by the CEO [3]. - The transaction is expected to drive business growth for Global Vía Pública, leveraging their media platform for outdoor advertising campaigns [3]. Advisory and Support - Moelis & Company LLC was engaged as the financial advisor to assist with the sale process of the Latin American businesses [5]. Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation through digital billboards and data analytics to enhance advertising effectiveness [6].

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. is set to release its fourth quarter results for 2024 on February 24, 2025, and will host a conference call to discuss these results [1][2]. Group 1: Earnings Release and Conference Call - The earnings release will occur before the market opens at 7:00 a.m. Eastern Time [1]. - A conference call to discuss the results will take place at 8:30 a.m. Eastern Time, with specific numbers provided for both U.S. and international callers [2]. - Related earnings materials will be available on the company's website by 7:00 a.m. Eastern Time [2]. Group 2: Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation [4]. - The company is expanding its advertising platform through digital billboards and data analytics, enhancing the effectiveness of advertising campaigns [4]. - By leveraging its diverse portfolio, the company connects advertisers with millions of consumers each month [4].

Core Insights - Clear Channel Outdoor has secured a 10-year partnership extension with Huntsville-Madison County Airport Authority, continuing a relationship that began in 1989, thus extending a 35-year partnership [1][2][3] Group 1: Partnership and Investment - The new advertising concession deal will introduce high-tech media solutions to Huntsville International Airport, enhancing brand experiences for the airport's 1.5 million annual passengers [1][3] - Clear Channel Outdoor's investment in the new media program aims to modernize advertising opportunities and align with the airport's terminal renovation project [4][3] Group 2: Airport Features and Recognition - Huntsville International Airport has been recognized as the 1 Best Small Airport in the 2024 Newsweek Readers' Choice Awards, known for its customer service and technological advancements [3] - The airport offers nonstop service to 14 destinations, making it the largest commercial airport in North Alabama [3] Group 3: Advertising Innovations - The new advertising network will feature impressive large LED video walls, a digital network integrated into the renovated gate hold area, and dynamic four-sided digital columns [6] - The advertising strategy will reduce static displays to enhance visibility and allow for more engaging ad campaigns throughout the airport [6]

Initiative Overview - The 'Game Changers' initiative, launched in 2023, aims to address the representational gap in mentorship by encouraging more Black men to become mentors and supporters [1] - In January, the digital billboard campaign will feature women 'Game Changers' from BBBSA's newest cohort, focusing on creating access and opportunity for youth, particularly girls and young women [2] - The initiative is driven by the belief that positive mentorship can significantly enhance self-esteem and confidence among girls, helping them navigate adolescence [3] Key Participants - The campaign includes prominent figures such as Carey Arensberg, Croix Bethune, Eden Bridgeman, Kardea Brown, Gizelle George-Joseph, Tammy Henault, Jeannie Mai, Sadé Muhammad, Paula Price, Marissa Solis, Sehr Thadhani, Lexi Underwood, Sybil Wilkes, Michelle Wong, Shelley Zalis, and Michelle Bell [4] Societal Impact and Data - Recent CDC data shows that 3 in 5 teen girls in the U.S. are facing significant mental health challenges, and the 2023 ROX Survey indicates declining confidence levels among girls compared to boys [5] - The partnership between Big Brothers Big Sisters of America and Clear Channel Outdoor aims to amplify the voices of these leaders and inspire more mentors to make a lasting impact on the next generation [6] Organizational Background - Big Brothers Big Sisters of America, founded in 1904, is the largest youth mentoring organization in the U.S., with over 230 local agencies serving more than 5,000 communities across all 50 states [7] - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, leveraging digital billboards, data analytics, and programmatic capabilities to deliver measurable campaigns [9]

Transaction Overview - Clear Channel Outdoor Holdings Inc has entered into a definitive agreement to sell its Europe-North segment to Bauer Radio Limited for an expected purchase price of $625 million [1] - The all-cash consideration represents a transaction multiple of approximately 6.5x Europe-North segment results for the twelve months ended September 30, 2024 [2] - The transaction is expected to close in 2025, subject to regulatory approvals [3] Use of Proceeds - The company plans to use the anticipated net proceeds from the sale to prepay in full the outstanding CCIBV term loans in the principal amount of $375 million, plus any accrued interest [2] - The remaining expected net proceeds will be subject to the asset sale provisions of the agreements governing the remainder of the company's indebtedness [2] Strategic Rationale - The sale of the Europe-North segment is part of the company's strategic plan to optimize its portfolio and focus on growing its America and Airports segments to improve cash flow and reduce leverage [3] - Upon completion of this transaction, the company will have divested the substantial majority of its European operations [3] Accounting Treatment - The company's plan to sell the Europe-North segment met the criteria to be reported as discontinued operations during the fourth quarter of 2024 [4] - Starting with the release of the company's fourth quarter 2024 results, assets and liabilities of these discontinued operations will be presented separately in the company's Consolidated Balance Sheets [4] - Results of discontinued operations will be reported as a separate component of consolidated net loss in the company's Consolidated Statements of Loss [4] Financial Advisors - The company engaged Moelis & Company LLC and Deutsche Bank Securities Inc as financial advisors to assist with the process to sell the Europe-North segment [6] Company Overview - Clear Channel Outdoor Holdings Inc is at the forefront of driving innovation in the out-of-home advertising industry [7] - The company's dynamic advertising platform is broadening the pool of advertisers through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities [7][8] - The company leverages the scale, reach and flexibility of its diverse portfolio of assets to connect advertisers with millions of consumers every month [8]

Early Arrival Multi-Year Deal Lands as Air Travel Soars, Offers Brands Exclusive Access to Ultra-High-Net-Worth Travelers NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Clear Channel Outdoor's Airports Division, the Americas-based airports business of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), today announced that through a five-year contract renewal with Signature Aviation (formerly Signature Flight Support), the world's largest network of private aviation terminals, it will continue to revolutionize advert ...