Billboard Valuation & Advisory Services
Q4 Reports From CCO, Lamar, and Outfront
Q4 Reports From CCO, Lamar, and Outfront.
Clear Channel Outdoor Holdings, Inc. had a strong year, driven by healthy demand from advertisers and a rebound from the pandemic, particularly from digital assets in the Americas and Europe, The company plans to focus on expanding its digital footprint, strengthening data analytics, and improving customer experience to improve revenue and gain business leverage. Additionally, Clear Channel is reviewing strategic options for its European businesses and plans to expand financial reporting to four segments to reflect changes in business management and resource allocation, with the goal of driving improved operating and free cash flow and value creation for shareholders. CCO Q4
Despite weakening demand from national customers, Lamar Advertising Company announced its operating results for the fourth quarter with net revenue increasing by 8.26%. Lamar reported solid financial results for the fourth quarter, with strong local sales helping them exceed their guidance range for full-year diluted AFFO per share. Looking forward, the company anticipates solid revenue growth for 2023, with full-year diluted AFFO per share expected to be between $7.40 and $7.55, despite interest expense posing a significant challenge. CCO Q4
OUTFRONT reported strong financial results for the fourth quarter of 2022, with reported revenues of $494.7 million, a 6.5% increase from the prior-year period, and adjusted OIBDA of $153.7 million, a 1.7% increase. Despite macroeconomic uncertainty, OUTFRONT achieved significant growth in 2022, with revenues increasing over 20%, adjusted OIBDA nearly 40%, and a record amount of digital inventory added. OUTFRONT expects to continue growing revenues, adjusted OIBDA, and AFFO in 2023. OUTFRONT Q4
