Finance

Clear Channel Outdoor Revenue down 6% due to to asset sales.

Clear Channel Outdoor released financials for the fourth quarter of 2016 (3 months ended December 31, 2016).  For more details see the 2016 financials and Seeking Alpha Earnings call transcript.  Consolidated Clear Channel Outdoor revenue excluding foreign exchange decreased by 6% to $746 million during the fourth quarter of 2016 due to outdoor plant sales earlier in the year.  Americas revenue was up 3.1% when adjusted for assets sales which tops Lamar’s acquisition adjusted growth of 2% and Outfront’s acquisition […]

by billboardinsider· · 0 comments · Finance

Lamar revenue up 9% in 4Q 2016

Lamar released fourth quarter 2016 financials yesterday.  Here are the highlights from the financials and the Seeking Alpha earnings call transcript.  All of the quotes come from the Seeking Alpha transcript. Revenue increased 8.6% to $386 million.  Acquisition adjusted revenue increased 2% or slightly in excess of GDP. The rest of growth was attributable to the acquisition of 6 Clear Channel Outdoor markets which in the first quarter of 2016. Adjusted cashflow increased 9.4% to $174 million.  The fact that […]

by billboardinsider· · 0 comments · Finance

Outfront Organic Revenue up 2.8% in 4Q 2016

Here are the highlights from Outfront’s  fourth quarter 2016 financials and Seeking Alpha Earnings call. Revenues decreased 0.3% to $397 million during the fourth quarter of 2016 as a 2.9% acquisition adjusted increase in revenues was offset by the disposition of the company’s Latin American business.  The 2.8% increase in organic revenues is higher than Lamar’s 2.0% figure and well in excess of GDP growth.   The increase was due to higher pricing and additional revenue from the conversion of static […]

by billboardinsider· · 0 comments · Finance

Clear Channel Outdoor Pays Dividend

As previously announced, on February 9, 2017, the Board of Directors of Clear Channel Outdoor Holdings, Inc. (the “Company”) declared a special cash dividend payable on February 23, 2017 (the “Payment Date”) to Class A and B stockholders of record at the closing of business on February 20, 2017 (the “Record Date”), in an aggregate amount equal to $282.5 million. As of the closing of business on the Record Date, there were 47,300,987 shares of Class A Common Stock and 315,000,000 shares of Class B Common Stock […]

by John Weller· · 0 comments · Finance

Daktronics revenue down 6% in third quarter of fiscal 2017

Digital sign manufacturer Daktronics reported a net loss of $2 million on revenue of $116 million for the third quarter of fiscal 2017 (3 months ended January 28, 2017).  The third quarter is historically Daktronics’ weakest due to seasonality in the sports business, construction cycles and a decrease in production days due to holidays.  Here are the highlights from the earnings release and the Seeking Alpha earnings call transcript. Revenue declined 6% to $116 million in the third quarter of […]

by billboardinsider· · 0 comments · Finance

Jim Johnsen And Insider Talk Acquisitions

Insider asked out of home investment banker Jim Johnsen of Johnsen Fretty for an interview.  Like any savvy dealmaker, Johnsen turned the tables and asked to interview Insider.   Yesterday Johnsen and Insider talked about billboard lending.  Today Johnsen and Insider talk about Billboard Insider and Circle City Outdoor. Dave, besides being the publisher of Billboard Insider and an active lender, it turns out you are also an operator in the business.   How do you possibly find the time […]

by billboardinsider· · 0 comments · Finance

Jim Johnsen and Insider talk billboard lending

Insider asked out of home investment banker Jim Johnsen of Johnsen Fretty for an interview on what it’s like to be an out of home industry investment banker.  Like any savvy dealmaker, Johnsen turned the tables and asked to interview Insider.  Part 1 of the interview discusses billboard lending and interest rates. Dave, you’ve done a terrific job building Billboard Insider into a great source of information.  I enjoy reading it first thing each morning.  I feel very honored to […]

by billboardinsider· · 0 comments · Finance

Advice to Out of Home Newcomers

Insider is often approached by people who want 100% financing for their first billboard.  Here’s what he tells them. Build your first board with your own money.  Nothing like a cook eating their own cooking.  If you are super confident your project is going to be a success take out a second mortgage and go for it.  Don’t ask a lender to take all the risk for a 10%/year return.  Don’t ask an investor to put up all the money […]

by billboardinsider· · 1 comment · Finance

Drachman says out of home M&A steady.

Max Drachman is an out of home advertising investment banker with Kalil and Co.  Insider talked with Drachman about trends in the out of home transactions market. What’s new on the out of home advertising  M&A front?  Things have been steady.  We just closed a deal in Wisconsin selling Hartlind Outdoor to Link Media.  This deal was a strategic buy for Link, and expands their footprint into the western side of the state.  The seller retained a custom sign business […]

by billboardinsider· · 0 comments · Finance

5 Years Stock Returns for US Outdoor Companies

Insider put together a chart showing the performance of the Lamar, Outfront Media and Clear Channel Outdoor versus NASDAQ (the index of approximately 3,000 common stock listed on the NASDAQ stock exchange) .  NASDAQ is a better benchmark for performance than the S&P 500 because Lamar, Clear Channel Outdoor and Outfront are not large enough to be in the S&P 500. Lamar has outperformed NASDAQ over the past five years.  Outfront and Clear Channel Outdoor have underperformed NASDAQ over the […]

by billboardinsider· · 0 comments · Finance