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 Holdings, Inc. (NYSE: CCO) announced on March 9, 2023, that its sale of the Swiss business to Goldbach Group has received regulatory approval from the Swiss Competition Commission. The transaction is expected to close late in Q1 or early Q2 of 2023, pending a customary tax ruling and completion of a reorganization. This strategic move aims to enhance their portfolio and optimize operations in the advertising sector, which includes over 500,000 displays across 24 countries, connecting advertisers with millions of consumers monthly. However, the company acknowledges various risks associated with future performance, including economic conditions and operational challenges.
Clear Channel Outdoor Holdings reported its Q4 2022 financial results, revealing consolidated revenue of $709.2 million, down 4.5% year-over-year. Excluding foreign exchange impacts, revenue was up 0.9% at $749.7 million. The Americas segment generated $374.2 million, a 0.8% increase, while Europe saw a 9.6% decline to $316.2 million. Net income rose 51.8% to $99.4 million with adjusted EBITDA down 7.6% to $204.8 million. The company plans to enhance operational efficiency by divesting non-core European assets and expanding financial reporting segments from two to four. For 2023, they project consolidated revenue between $2.575 billion and $2.700 billion, with a net loss expected between $110 million and $165 million.
On February 24, 2023, Clear Channel Outdoor Holdings (NYSE: CCO) announced that CEO Scott Wells and CFO Brian Coleman will present at J.P. Morgan's Global High Yield & Leveraged Finance Conference on March 7, 2023, at 2:00 PM ET. The presentation will be accessible via a live audio webcast, with the replay available on Clear Channel's investor website. This engagement underscores the company's commitment to innovation in the out-of-home advertising sector, leveraging digital billboards and data analytics to enhance advertising strategies.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that CEO Scott Wells will present at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 3:55 p.m. PT. Investors can access the live audio webcast and replay on the company's investor website. Clear Channel Outdoor is a leader in the out-of-home advertising space, focusing on innovation through digital billboards, data analytics, and programmatic capabilities. The company connects advertisers with a vast audience across over 500,000 displays in 24 countries, advancing measurable and accessible advertising campaigns.
QuSecure, a leader in post-quantum cybersecurity, has appointed Lisa Hammitt as its first independent director. With over 30 years of industry experience, Hammitt has held leadership roles at Intelsat, IBM, and Visa. Her expertise in AI and quantum technologies is expected to enhance QuSecure’s growth as it serves both federal and commercial clients. Hammitt’s appointment comes during a pivotal year for quantum cybersecurity, as enterprises increasingly seek quantum-resilient solutions. QuSecure's innovative technology aims to protect organizations from both classical and quantum threats, a necessity as quantum computing advances.
Clear Channel Airports has launched a cutting-edge digital media program at the newly opened Newark Liberty International Airport's Terminal A, which cost
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will release its 2022 fourth quarter results before market opening on February 28, 2023, at 7:00 a.m. Eastern Time. A conference call to discuss the results will follow at 8:30 a.m. Eastern Time. Investors can join the call by dialing 1-833-927-1758 (U.S.) or 1-929-526-1599 (international) with access code 845411. A live audio webcast will be accessible on the company’s website. Related earnings materials will be available post-release, including reconciliations of non-GAAP financial measures.
On December 22, 2022, Clear Channel Outdoor Holdings (NYSE: CCO) announced the sale of its Swiss business to Goldbach Group AG for CHF 86 million (US$ 92.7 million). This transaction aims to enhance financial flexibility and optimize the company’s portfolio. The Swiss business is projected to contribute US$ 9.7 million to Europe Segment Adjusted EBITDA for the year ending December 31, 2022. The deal, subject to regulatory approval, is anticipated to close in mid-2023. CEO Scott Wells emphasized the strategic nature of this sale in the context of ongoing reviews of European assets.
Clear Channel Outdoor Holdings, CCO (NYSE), announced that CEO Scott Wells will present at Citi's 2023 Communications, Media & Entertainment Conference on January 4, 2023, at 8:45 a.m. MT. The presentation will be available via live audio webcast on their investor website, ensuring accessibility for stakeholders. Clear Channel is a leader in out-of-home advertising, utilizing digital displays and data analytics to enhance advertising strategies and connect with millions of consumers across 24 countries.
Clear Channel Outdoor Americas (CCO) has teamed up with No Kid Hungry to launch a digital out-of-home media campaign aimed at addressing child hunger this holiday season. With 1 in 8 children in the U.S. at risk of hunger, the campaign will promote No Kid Hungry's Free Meals Finder, helping families locate free meals in their local communities. The initiative will run across CCO’s digital displays in major markets and airports, enhancing visibility for families in need.
FAQ
What is the current stock price of Clear Channel Outdoor Holdings (CCO)?
What is the market cap of Clear Channel Outdoor Holdings (CCO)?
What does Clear Channel Outdoor Holdings, Inc. do?
Where does Clear Channel Outdoor operate?
What recent achievements has Clear Channel Outdoor reported?
What are Clear Channel Outdoor's current projects?
How does Clear Channel Outdoor innovate within the advertising industry?
How many digital billboards does Clear Channel Outdoor operate?
What is Clear Channel Outdoor's financial condition?
What segments generate the most revenue for Clear Channel Outdoor?
Who are Clear Channel Outdoor's main clients?
Where can I find more information about Clear Channel Outdoor?
