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 $193.2 million in cash and a clear focus on reducing leverage. As part of its strategic roadmap, Clear Channel Outdoor is enhancing its technology and digital infrastructure to increase operating leverage and organically grow EBITDA and free cash flow. The sale process of their Europe-North segment and Latin American businesses is ongoing.
Partnerships & Innovations: Clear Channel Outdoor is at the forefront of innovation within the out-of-home advertising industry. The company’s dynamic advertising platform includes data analytics and programmatic capabilities, making campaigns more measurable and easier to purchase. This innovation broadens the advertiser base, driving significant engagement across its diverse portfolio.
Visit the company’s website at clearchanneloutdoor.com for more information.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will release its 2022 fourth quarter results before market opening on February 28, 2023, at 7:00 a.m. Eastern Time. A conference call to discuss the results will follow at 8:30 a.m. Eastern Time. Investors can join the call by dialing 1-833-927-1758 (U.S.) or 1-929-526-1599 (international) with access code 845411. A live audio webcast will be accessible on the company’s website. Related earnings materials will be available post-release, including reconciliations of non-GAAP financial measures.
On December 22, 2022, Clear Channel Outdoor Holdings (NYSE: CCO) announced the sale of its Swiss business to Goldbach Group AG for CHF 86 million (US$ 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.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that CFO Brian Coleman will present at the BofA Securities Leveraged Finance Conference 2022 on November 30, 2022, at 9:30 a.m. Eastern Time. The event will be available via a live audio webcast and a replay on the company’s investor website. Clear Channel Outdoor is a leader in the out-of-home advertising sector, utilizing innovative digital platforms and data-driven analytics to enhance advertising effectiveness across more than 500,000 displays globally.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that CEO Scott Wells will present at the Wells Fargo TMT Summit on November 29, 2022, at 1:50 p.m. PT. A live audio webcast and replay will be accessible on their investor website. Clear Channel is a leader in the out-of-home advertising industry, innovating with digital billboards and data analytics to enhance advertising reach. With over 500,000 displays across 24 countries, they connect millions of consumers monthly.
Clear Channel Outdoor Holdings (NYSE: CCO) reported Q3 2022 financial results, showing consolidated revenue of $602.9 million, a 1.1% increase year-over-year. Adjusted EBITDA was $129.5 million, down 5.0%, while net loss widened to $38.8 million. Americas revenue rose 8.6% to $346.5 million, but Europe saw an 8.9% decline. The company is focused on digital transformation and optimizing its European segment. Q4 guidance estimates revenue between $740 million and $765 million. They maintain a cautious outlook for costs amidst changing business trends.
Clear Channel Outdoor Americas (CCO) collaborates with the USO for a nationwide digital billboard campaign throughout November. The initiative aims to encourage public support for over 1.3 million service members deployed globally during the holiday season. With over 2,000 digital billboards across major markets and airports, the campaign promotes USO programs like Care Packages and entertainment to connect service members with their families. The partnership highlights the unique challenges faced by military personnel and emphasizes the importance of community support in their service.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) will release its 2022 third quarter results before the market opens on November 8, 2022, at 7:00 a.m. Eastern Time. A conference call to discuss the results will follow at 8:30 a.m. Eastern Time, available for U.S. callers at 1-833-927-1758 and international callers at 1-929-526-1599, using access code 913379. Earnings materials will be accessible on the Company's website after the results are released. Clear Channel Outdoor operates an expansive advertising platform across 500,000 print and digital displays in 25 countries.
Clear Channel Airports and PenFed Credit Union have launched a groundbreaking partnership, creating The PenFed Tunnel at Washington Dulles International Airport. This multi-year, multimillion-dollar campaign features a unique digital media tunnel, comprising nearly 4,000 square feet of LED displays and audio systems, capturing the attention of millions of travelers daily. This brand takeover allows PenFed a full marketing presence in Terminal C, promoting its financial services to a diverse audience as travel rebounds to pre-pandemic levels.
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