Welcome to our dedicated page for Clear Channel Outdoor Holdings news (Ticker: CCO), a resource for investors and traders seeking the latest updates and insights on Clear Channel Outdoor Holdings stock.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is a leading global player in the outdoor advertising industry, operating in over 30 countries across North America, Latin America, Europe, and Asia. The company boasts a robust presence in 43 of the top 50 U.S. markets, and its expanding digital platform includes more than 1,200 digital billboards across 28 U.S. markets. Clear Channel Outdoor helps advertisers craft impactful out-of-home campaigns using both traditional and digital formats in various environments such as roadside, urban, transit, airport, street furniture, and retail near the point of sale.
The company enables brands to engage with mobile consumers, integrating out-of-home advertising with mobile and social media to boost customer engagement and drive purchases. By leveraging its extensive portfolio of over 330,000 print and digital displays in 19 countries (excluding businesses held for sale), Clear Channel Outdoor connects advertisers with millions of consumers monthly.
Recent Achievements:
- Clear Channel Outdoor reported fourth-quarter consolidated revenue of $632.1 million, a 12.4% increase year-over-year, driven by strong performance in the Airports and Europe-North segments.
- The company sold its businesses in Switzerland, Italy, and Spain, generating $153.5 million in aggregate proceeds. These sales, reflecting the company's strategic focus on higher-margin U.S. markets, are part of an ongoing process to optimize its portfolio.
- Clear Channel Outdoor recently refinanced a significant portion of its debt, extending maturities and improving financial flexibility. This includes a new term loan facility and the issuance of $865 million in senior secured notes due 2030.
Financial Condition & Current Projects: The company continues to strengthen its balance sheet, with $193.2 million in cash and a clear focus on reducing leverage. As part of its strategic roadmap, Clear Channel Outdoor is enhancing its technology and digital infrastructure to increase operating leverage and organically grow EBITDA and free cash flow. The sale process of their Europe-North segment and Latin American businesses is ongoing.
Partnerships & Innovations: Clear Channel Outdoor is at the forefront of innovation within the out-of-home advertising industry. The company’s dynamic advertising platform includes data analytics and programmatic capabilities, making campaigns more measurable and easier to purchase. This innovation broadens the advertiser base, driving significant engagement across its diverse portfolio.
Visit the company’s website at clearchanneloutdoor.com for more information.
Clear Channel Outdoor (NYSE: CCO) partners with the Afterschool Alliance, National League of Cities, and National Summer Learning Association for the 23rd annual Lights On Afterschool campaign. The initiative will feature visibility on nearly 2,000 digital billboards nationwide, running throughout October, culminating in events on October 20. The campaign highlights afterschool programs' contributions to child safety, education, and community support amidst increasing demand. A recent survey indicates 24.7 million U.S. children would enroll in afterschool programs if available, underscoring the existing unmet demand.
Clear Channel Outdoor Americas (CCOA) has appointed Chris Pezzello as the new president of its Chicago market, responsible for operations across sales, marketing, and finance. With over 26 years of experience, Pezzello aims to enhance revenue growth and strengthen relationships with clients and municipalities. CCOA's digital transformation positions it well to capitalize on growth opportunities in the Out-of-Home (OOH) sector. The company reaches 91% of the DMA 18+ population weekly, with over 7 million passengers at O'Hare International Airport monthly.
Clear Channel Outdoor Holdings, Inc. (CCO) held its inaugural Investor Day on September 8, 2022, presenting its long-term strategy to enhance its competitive position in the out-of-home advertising sector. The firm detailed its technology investments and expanded financial disclosures for the Americas segment, aiming for a revenue range of $2.6 billion to $2.635 billion for 2022. Key strategic priorities include accelerating digital transformation and improving operational efficiency. Despite reaffirming guidance, the company expects a consolidated net loss between $150 million and $123 million for the full year.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) announced that CFO Brian Coleman will present at the Deutsche Bank Leveraged Finance Conference on September 20, 2022, at 9:20 a.m. MST. The presentation will be available via live audio webcast and can be accessed on their investor website. Clear Channel Outdoor is a leader in the out-of-home advertising industry, utilizing digital billboards and data analytics to enhance advertising effectiveness, reaching millions of consumers through over 500,000 displays across 25 countries.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that CEO Scott Wells will participate in a fireside chat at the Goldman Sachs Communacopia Conference on September 14, 2022, at 3 p.m. PT. Investors can tune in via a live audio webcast available on the company's investor website, which will remain accessible for 30 days post-event. Clear Channel Outdoor is a leader in the out-of-home advertising industry, known for its expansion of digital advertising and data-driven solutions that enhance campaign effectiveness across 500,000 displays in 25 countries.
The Port Authority of New York and New Jersey and Clear Channel Airports announced a new all-digital media network at LaGuardia's Terminal C, part of a broader modernization effort across major airports. The contract, signed in November 2020, focuses on enhancing advertising infrastructure with over 95% of the investment going into digital displays. Key features include large LED displays and video walls, designed to captivate travelers as air travel rebounds. This initiative aims to improve the advertising environment as business and leisure travel increase, creating opportunities for brands to engage with passengers.
Clear Channel Outdoor Holdings (NYSE: CCO) will hold its inaugural Investor Day on September 8, 2022, in New York City, starting at 9:00 a.m. Eastern Time. The event features presentations from CEO Scott Wells and CFO Brian Coleman, focusing on the company’s strategy, financial outlook, and technology's role in transforming the business. A live webcast will be available on the Investor Relations Website, with a replay to follow. This event marks a significant step in enhancing financial transparency and engaging stakeholders in the company's future plans.
Clear Channel Outdoor Holdings reported a strong second quarter for 2022, with consolidated revenue surpassing expectations. Revenue in the Americas rose by 27.4% to $346.1 million, while Europe saw a 13.4% increase, reaching $280.3 million. Notably, revenue excluding foreign exchange effects grew by 27.8% to $315.8 million in Europe. The company is focused on optimizing its European assets and expects third-quarter consolidated revenue between $625 million and $645 million.
AdQuick.com has partnered with Clear Channel Outdoor (CCO) to automate outdoor inventory selection, allowing for real-time data on printed and digital display availability. This collaboration aims to enhance the efficiency of Out-of-Home (OOH) advertising campaigns, enabling marketers to make quick and informed decisions. Matthew O'Connor, CEO of AdQuick, highlights the need for marketing agility in today's fast-paced environment. The partnership reflects CCO's commitment to integrating digital capabilities to meet client needs and streamline media buying processes.
Clear Channel Outdoor Holdings, Inc. (CCO) announced the release of its 2022 second quarter results on August 9, 2022, before market open at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results. Investors can connect via the designated conference call numbers or through a live audio webcast available on the Company's website. Relevant earnings materials will be accessible online post-release, providing insights into financial metrics and performance measures.
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