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]

Chicago is the third-largest DMA in the U.S. and home to 15 ranked companies on the 2024 Fortune 500 list. National and local brands can activate exclusive takeover campaigns on the fleet's brand new K9MD all-electric buses from BYD which are equipped with state-of-the-art ride technology, including Wi-Fi. These buses reach audiences in a highly valuable part of downtown Chicago where there are limited opportunities to reach their targeted consumers. According to the 2023 Census Estimates, the residential p ...

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].

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]