Clear Channel Outdoor(CCO) - 2025 Q1 - Quarterly Results

Revenue Performance - Consolidated revenue for Q1 2025 was $334.2 million, a 2.2$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 $(55.3) million, a 20.1$(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$393 million and $408 million, representing a 4$1.562 billion to $1.607 billion, with a 4$(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]