Core Viewpoint - Clear Channel Outdoor Holdings, Inc. reported a 2.2% increase in consolidated revenue for Q1 2025, driven by growth in the America and Airports segments, and is optimistic about future performance due to a solid pipeline of business and strategic focus on U.S. operations [2][4][3]. Financial Performance - Consolidated revenue for Q1 2025 was $334.2 million, up from $326.8 million in Q1 2024, reflecting a 2.2% increase [5][35]. - America segment revenue increased by 1.8% to $254.2 million, while Airports segment revenue rose by 4.0% to $80.0 million [5][15]. - The company reported a net loss from continuing operations of $55.3 million, a 20.1% improvement compared to a loss of $69.2 million in the same period last year [5][22]. Adjusted EBITDA and AFFO - Adjusted EBITDA for Q1 2025 was $79.3 million, down 12.5% from $90.6 million in Q1 2024 [5][23]. - The company reported an Adjusted Funds From Operations (AFFO) of $(22.9) million, a decline of 78.4% compared to $(12.8) million in Q1 2024 [24][55]. Cost Management and Debt Reduction - The company successfully reduced corporate expenses by approximately $35 million annually and is focused on further reductions [3][19]. - Clear Channel Outdoor used proceeds from the sale of its Europe-North segment to fully prepay $375 million of its term loan facility, which is expected to lower interest expenses [8][30]. Strategic Focus - The company is transitioning to a U.S.-focused business model, having completed the majority of its international asset sales, which is expected to enhance financial resiliency and reduce operational risk [3][4]. - Future growth is anticipated from higher-margin U.S. assets and ongoing digital transformation initiatives [4][20]. Guidance - For Q2 2025, the company expects consolidated revenue between $393 million and $408 million, representing a 4% to 8% increase from the prior year [11]. - Full-year 2025 guidance for consolidated revenue remains unchanged at $1.562 billion to $1.607 billion, with an expected 7% increase year-over-year [12].

Revenue Performance - Consolidated revenue increased by $7.3 million, or 2.2%, to $334.2 million for the three months ended March 31, 2025, compared to $326.8 million in the same period in 2024[91] - Digital revenue rose by $12.1 million, or 9.5%, to $138.9 million, representing 41.6% of total consolidated revenue for the three months ended March 31, 2025[94] - The America segment reported revenue of $254.2 million, an increase of $4.4 million, or 1.8%, driven by the new MTA contract[106] - Digital revenue in the America segment increased by $5.4 million, or 6.4%, to $89.6 million, accounting for 35.3% of total segment revenue[107] - Airports revenue increased by $3.1 million, or 4.0%, to $79.983 million for the three months ended March 31, 2025, primarily due to strong national advertising demand[112] - Airports digital revenue grew by $6.647 million, or 15.6%, to $49.257 million, representing 61.6% of total segment revenue[112] Expenses - Consolidated direct operating expenses increased by $13.5 million, or 8.7%, to $168.5 million, primarily due to higher site lease expenses related to the new MTA contract[95] - Consolidated selling, general and administrative expenses rose by $4.4 million, or 7.4%, to $63.7 million, driven by higher credit loss expenses and increased employee compensation[96] - America direct operating expenses increased by $7.0 million, or 6.7%, to $111.0 million for the three months ended March 31, 2025, compared to the same period in 2024[109] - America SG&A expenses rose by $4.6 million, or 9.3%, driven by higher credit loss expenses and increased employee compensation[110] - Airports direct operating expenses increased by $7.0 million, or 14.4%, to $56.109 million, driven by higher site lease expenses[113] Income and Loss - Loss from continuing operations narrowed to $55.3 million for the three months ended March 31, 2025, compared to a loss of $69.2 million in the same period in 2024[91] - Income from discontinued operations was $118.5 million for the three months ended March 31, 2025, compared to a loss of $19.9 million for the same period in 2024[117] Cash Flow and Debt - Net cash provided by operating activities for Q1 2025 was $14.9 million, a significant improvement from a net cash outflow of $34.8 million in Q1 2024, driven by a $38.1 million decrease in cash paid for interest[138] - The company received net cash proceeds of $609.3 million from the sale of businesses during Q1 2025, including $593.3 million from the Europe-North segment[139] - The company expects cash interest payments to be approximately $313 million for the remainder of 2025[135] - The next debt maturity is in August 2027, with $1.25 billion of 5.125% Senior Secured Notes due[136] - The total first lien net debt as of March 31, 2025, was $2,898.0 million, after accounting for cash and cash equivalents of $395.8 million[144] Capital Expenditures and Financial Position - Total capital expenditures for the three months ended March 31, 2025, were $25.526 million, compared to $26.204 million in the same period in 2024[129] - As of March 31, 2025, the company had $401.3 million in cash and cash equivalents, including $5.5 million from discontinued operations[137] - The company has access to a total credit facility of $258.1 million, with excess availability of $166.3 million as of March 31, 2025[141] - The maximum borrowing limit under the Receivables-Based Credit Facility is $175.0 million, which fluctuates based on accounts receivable[141] Strategic Actions - The company sold its Europe-North segment businesses for $625.0 million and used part of the proceeds to prepay $375.0 million of its Term Loan Facility[83] - The company expects to prioritize using remaining net proceeds to retire advantageous debt in its capital structure[83] - The company plans to prioritize using net proceeds from business sales to retire advantageous debt in its capital structure[139] Forward-Looking Statements - The company cautions that forward-looking statements regarding future performance are subject to numerous risks and uncertainties[148] EBITDA and Leverage - EBITDA for the four quarters ended March 31, 2025, was reported at $472.0 million, reflecting operating income adjusted for various nonrecurring items[145] - As of March 31, 2025, the first lien net leverage ratio was 6.14 to 1.00, down from the covenant limit of 7.10 to 1.00[142]

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]

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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 ...