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 ...

8 students from across the nation awarded scholarships for their winning TV, Radio and Billboard creative NEW YORK, June 28, 2024 /PRNewswire/ -- In its 13th year, the Ad Council and Project Yellow Light announced the winners of the annual Project Yellow Light scholarship competition. This contest offers students an opportunity to create TV, radio and billboard PSAs to educate their peers about the dangers of distracted driving, specifically cell phone usage while driving. The winning PSAs will be seen in N ...

BALTIMORE, June 28, 2024 /PRNewswire/ -- Clear Channel Outdoor, Airports Division, the Americas-based airports business of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), today announced a new partnership and sponsorship with Visit Annapolis & Anne Arundel County (VAAAC), a nonprofit Destination Marketing/Management Organization whose mission is to foster a welcoming destination and promote tourism on behalf of its visitors, partners, and community, to activate a cutting-edge, first-of-its-kind brand take ...

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Eileen McLaughlin - Investor Relations Scott Wells - Chief Executive Officer David Sailer - Chief Financial Officer Justin Cochrane - Chief Executive Officer, Clear Channel UK and Europe Conference Call Participants Cameron McVeigh - Morgan Stanley Daniel Osley - Wells Fargo Avi Steiner - JPMorgan Lance Vitanza - TD Cowen Aaron Watts - Deutsche Bank Jim Goss - Barrington Research Eile ...

Financial Performance - Consolidated net loss was $89 million, a 151.5% increase[5] - Adjusted EBITDA was $97 million, a 53.6% increase[5] - Adjusted EBITDA increased by 53.0% excluding movements in FX[5] - AFFO was $(16) million, a 62.6% increase[5] - AFFO increased by 61.6% excluding movements in FX[5] Revenue - Consolidated Revenue for Q1 2024 was $478 million excluding movements in FX rates, up 9.3%[7] - America revenue increased by 10.1% to $482 million[33] - Airports revenue increased by 43.0% to $77 million[39] - Europe-North revenue increased by 8.5% to $139 million, or 5.9% excluding movements in FX[115] - Other revenue decreased by 17.9% to $16 million[145] Segment Performance - America's Segment Adjusted EBITDA increased by 17.3% to $95 million[34] - Airports' Segment Adjusted EBITDA increased by 204.6% to $19 million[39] - Europe-North's Segment Adjusted EBITDA increased by 99.7% to $14 million, or 92.5% excluding movements in FX[115] - Other's Segment Adjusted EBITDA decreased by 45.8%[145] Guidance - The company confirms FY 2024 Revenue guidance mid-single digital growth over FY 2023, excluding movements in FX rates[23] - Q2 2024 Consolidated Revenue is expected to be between $547 million and $572 million[45] - Full year 2024 Consolidated Revenue is expected to be between $2200 million and $2260 million[45] - Full year 2024 Adjusted EBITDA is expected to be between $550 million and $585 million[45] - Full year 2024 AFFO is expected to be between $80 million and $105 million[45]

Clear Channel Outdoor (CCO) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.56%. A quarter ago, it was expected that this outdoor advertising company would post earnings of $0.04 per share when it actually produced earnings of $0.05, delivering a surprise of 25%.Over the last four quarters, ...