Business
Clear Channel Outdoor Holdings, Inc. Reports Results for the Fourth Quarter and Full Year of 2024
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter and year ended December 31, 2024.
About this update from Clear Channel Outdoor Holdings, Inc.
[{"type":"text","content":"SAN ANTONIO, Feb. 24, 2025 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today reported financial results for the quarter and year ended December 31, 2024.","length":210,"tagName":"p"},{"type":"text","content":""With the announced agreement to sell our Europe-North segment as well as the sale of our businesses in Mexico, Chile and Peru, we continue to execute on our plan to focus on our higher margin U.S. markets," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "We are following a path aimed at enhancing our ability to drive organic cash flow with the ultimate goal of reducing leverage on our balance sheet. These steps are good progress as we continue to reduce risk and create optionality through our U.S. focus.","length":560,"tagName":"p"},{"type":"text","content":""During the fourth quarter, our America segment delivered record revenue of $310.7 million, representing an increase of 4.1%, driven by strength in digital and local sales. Airports continued to perform well with fourth quarter revenue increasing 4.3% to $116.0 million, a record against a robust performance in the prior year comparable period. On a consolidated basis, we delivered revenue of $426.7 million during the fourth quarter, representing an increase of 2.6%, which reflects the loss of a contract in Singapore. AFFO exceeded discretionary capex for both the quarter and the year, and we expect further expansion in 2025.","length":637,"tagName":"p"},{"type":"text","content":""In the year ahead, our roadmap for growth remains centered on continuing to innovate and modernize our platform, including expanding our digital footprint, further leveraging our data and analytics capabilities and strategically growing our sales force. We believe these efforts are making our products easier to plan, buy and measure, elevating our place in the digital advertising ecosystem and expanding the overall pool of advertisers we can serve."","length":464,"tagName":"p"},{"type":"text","content":"Financial Highlights:","length":21,"tagName":"p","attribs":{}},{"type":"text","content":"Financial highlights for the fourth quarter of 2024 as compared to the same period of 2023:","length":91,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","...