Clear Channel Outdoor Holdings, Inc. Reports Results for the Third Quarter of 2024
SAN ANTONIO, Oct. 31, 2024 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) today reported financial results for the quarter ended September 30, 2024.
“Our third quarter consolidated revenue of $559 million increased 6.1%, or 5.7% excluding movements in foreign exchange rates, with growth across all of our business segments,” said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “Our America segment delivered a revenue increase of 5.0% during the period, reflecting improved national advertising sales and growth across all regions.
“We continue to pursue a range of initiatives aimed at leveraging our technology investments and enhanced sales teams to maximize our performance in the U.S. Utilizing our digital expertise and RADAR data analytics resources, we are making inroads into verticals that have traditionally not relied on out-of-home to reach their target audiences. We have also secured, effective November 1, 2024, a large 15-year contract for roadside advertising assets controlled by the New York MTA. These initiatives have broadened our revenue base as we pursue growth opportunities.
“Our business is performing well, and we remain on track to deliver on our full year 2024 consolidated financial guidance. We are committed to executing our strategic plan, including continuing the sales processes related to our international businesses. Our ultimate goals include organically growing cash flow and reducing leverage on our balance sheet.”
Read Full Results Here
