Clear Channel Outdoor Revenue and Cashflow Down in 1Q 2017

Clear Channel Outdoor released 1Q 2017 financials yesterday.  Revenue and cashflow declined,  Here are links to the Seeking Alpha earnings call transcript and the first quarter investor powerpoint.  Insider’s analysis focuses on Clear Channel Outdoor Americas, which includes the company’s North American billboards.

  • Americas Outdoor Revenue declined by $3 million (1%) to $279 million due to assets sales.  Organic revenues were up 0.2% when adjusted for divestitures.

 

  • Americas Outdoor Expenses increased $3 million (2%) to $197 million during the first quarter of 2017 due to higher site lease expenses, airport expenses and printed display expense.

 

  • Americas Cashflow (OIBDAN) declined by $7 million (7%)  to $83 million during the first quarter.

 

  • Clear Channel Outdoor installed 23 new digital billboards in north america during the first quarter and added 31 digital billboards from the Atlanta/Indy swap, bringing the total number of digital billboards to 1,167.

 

  • Clear Channel Outdoor remains leveraged with Senior Debt/Cashflow of 4.3 and Total Debt/Cashflow of 8.2.  Debt has been stable while cashflow is declining.  Never a good thing.

Here’s a table from the investor powerpoint summarizing performance of the Americas Outdoor group.

 


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