CCO Stock Recent News

While the top- and bottom-line numbers for Clear Channel Outdoor (CCO) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Clear Channel Outdoor (CCO) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.24 per share a year ago.

Clear Channel Outdoor jumped despite third-quarter results that were technically mixed relative to expectations. The out-of-home advertising company has made significant progress divesting its Europe-South segment over the past year, and plans to use proceeds to deleverage its balance sheet.

The U.S. Securities and Exchange Commission said on Thursday that advertising company Clear Channel Outdoor Holdings agreed to pay more than $26 million to resolve charges it bribed Chinese government officials to obtain outdoor advertising contracts in violation of U.S. law.

Hold rating recommended for Clear Channel Outdoor due to uncertainty in near-term performance and lack of confidence in macroeconomic recovery. Clear Channel Outdoor provides out-of-home display advertising, but faces competition from online advertising, which is taking a larger share of the market. The airport segment, while performing well recently, may face challenges from rent abatements and tough year-over-year comparisons.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO ) Q2 2023 Earnings Conference Call August 7, 2023 8:30 AM ET Company Participants Eileen McLaughlin - Vice President of Investor Relations Scott Wells - Chief Executive Officer Brian Coleman - Executive Vice President and Chief Financial Officer Justin Cochrane - Chief Executive Officer, UK and Europe Conference Call Participants Ben Swinburne - Morgan Stanley Steven Cahall - Wells Fargo Richard Choe - JP Morgan Avi Steiner - JPMorgan Jonnathan Navarrete - TD Cowen Jim Goss - Barrington Research Operator Operator Ladies and gentlemen, thank you for standing by. Welcome to Clear Channel Outdoor Holdings 2023 Second Quarter Earnings Conference Call.

Although the revenue and EPS for Clear Channel Outdoor (CCO) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Clear Channel Outdoor (CCO) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.04 per share a year ago.

Clear Channel Outdoor Holdings Inc. CCO, +0.60% said Monday it has entered exclusive talks with Equinox Industries, a Paris-based industrial holding company, on the sale of its French business. Under the terms being discussed, Dider Quillot, a senior adviser to Equinox, would take a stake alongside the holding company, and would become non-executive chairman of Clear Channel France upon completion.

The billboard giant can become a U.S. pure play or weigh a sale of a few of its stateside assets.