SAN ANTONIO, Oct. 31, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter ended September 30, 2024. "Our third quarter consolidated revenue of $559 million increased 6.1%, or 5.7% excluding movements in foreign exchange rates, with growth across all of our business segments," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Our America segment delivered a revenue increase of 5.0% during the p ...

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 September 30, 2024 ☐ 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) Delaware 88-0318078 | --- | ...

Exhibit 99.1 1 This is a non-GAAP financial measure. See "Supplemental Disclosures" section herein for more information. Clear Channel Outdoor Clear Channel Outdoor Holdings, Inc. Reports Results for the Third Quarter of 2024 ---------------- San Antonio, TX, October 31, 2024 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter ended September 30, 2024. "Our third quarter consolidated revenue of $559 million increased 6.1%, or 5.7% excluding mov ...

Group 1 - Koninklijke Philips N.V. reported third-quarter adjusted EPS of 0.32 euros ($0.35), missing the consensus estimate of 0.35 euros [2] - The company reported sales of 4.38 billion euros ($4.74 billion), down 2% year over year, and also below the consensus of 4.54 billion euros [2] - Following the earnings report, Koninklijke Philips shares fell 17.2% to $26.24 in pre-market trading [2] Group 2 - Tevogen Bio Holdings Inc. shares declined 10.8% to $2.72 after a previous surge of 19% [3] - Borr Drilling Limited shares dipped 6.8% to $4.38, announcing the pricing of an offering of additional 10.375% senior secured notes due 2030 for gross proceeds of $175 million [3] - Bowhead Specialty Holdings Inc. shares fell 5.6% to $27.77 after pricing its 4 million common share secondary offering at $29 per share [3] - Clear Channel Outdoor Holdings, Inc. shares fell 4.3% to $1.5500 after terminating an agreement to sell its business in Spain following regulatory review [3] - Obsidian Energy Ltd. shares fell 2.9% to $5.74 ahead of its third quarter 2024 financial and operational results release on October 31 [3]

Core Viewpoint - Clear Channel Outdoor Holdings, Inc. announced that JCDecaux SE has terminated its agreement to acquire the Company's business in Spain due to regulatory challenges from the Spanish National Markets and Competition Commission (CNMC) [1][2] Company Operations - The Company will continue its operations in Spain and focus on executing its strategic priorities in the America and Airports segments [1][2] - The CEO expressed gratitude to the European teams for their efforts during the regulatory review process, highlighting strong business performance in Spain despite the ongoing sale process [2] Strategic Focus - Clear Channel is committed to its strategic plan, which includes organic cash flow growth and reducing leverage on its balance sheet [2] - The Company is expanding its advertising platform through digital billboards and data analytics, aiming to connect advertisers with millions of consumers monthly [3]

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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]