Clear Channel Outdoor(CCO) Prnewswire·2025-02-24 11:00Core 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].