Clear Channel Outdoor Holdings (CCO) Reports Q4 Revenues Beat

Clear Channel Outdoor Holdings (NYSE: CCO) reported Q4 revenue for the quarter came in at $755.24 million versus the consensus estimate of $737.05 million.

"2019 was a transformative year for Clear Channel Outdoor," said William Eccleshare, Worldwide Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Our priority has been and continues to be capitalizing on the fundamental strength of the out-of-home industry, particularly in the Americas which accounts for about 70% of OIBDAN and delivered 7% revenue, 16% operating income, and 9% OIBDAN growth in 2019.

"In addition, we continue to actively evaluate additional opportunities to further improve our capital structure, pay down debt and unlock shareholder value. This may include potential dispositions, to the extent we have an opportunity to accelerate this path to value, and fairly reflects the future value of a business or region. Our focus is on taking the necessary steps to de-lever our balance sheet, enhance our financial flexibility, and invest in technology to drive growth in our higher margin markets, particularly in the Americas.

"Through the unwavering dedication and hard-work of our teams, we continue to manage the business through evolving market dynamics while enhancing our ability to meet our advertising partners' needs and positioning ourselves to achieve our vision of creating a unique, mass reach, media platform. I am confident in our ability to execute on our strategic plan in 2020 and beyond as we continue to take a disciplined approach in driving sustainable, profitable value for our shareholders."

For earnings history and earnings-related data on Clear Channel Outdoor Holdings (CCO) click here.

You May Also Be Interested In

• BofA lists top 5 themes driving next $1tn in incremental semi sales
• Prosperity Bancshares (PB) Reiterated at Overweight by Cantor Fitzgerald as Estimates Revised
• AMC Entertainment prices $200M stock offering to redeem senior notes