What Should Be My Days Sales Outstanding?

A reader asks Billboard Insider what Days Sales Outstanding  should be at an Out of Home advertising company.  Days sales outstanding tells you how long it takes you to convert your receivables to cash.  The formula is: Days Sales Outstanding = (accounts receivable/last 365 days sales) x 365 What should […]

Billboard/Poster Company Revenues Recovering Fastest From Covid

Here’s a chart showing of the change in revenues at the public out of home companies compared to each company’s reliance on roadside billboards.  There’s a correlation between how reliant a company is on billboard/poster revenues and how fast it is recovering from covid. Small wonder that Clear Channel Outdoor, […]

Boidman confirms OOH bid ask spread has widened for large transactions.

Last week Billboard Insider quoted PJ Solomon investment banker Mark Boidman suggesting the bid ask spread has widened on out of home transactions.  Yesterday Billboard Insider ran comments by some out of home investment bankers suggesting that the bid ask spread hadn’t widened especially for smaller transactions.  Mark Boidman tells […]

The Vaccine Increase

I would expect most all of us saw the encouraging news Monday morning indicating that Pfizer’s Covid -19 vaccine is 90% effective, based on preliminary trial data.  Once the news was released, the stock market moved quickly.  Most stocks moving upwards, unless you were NETFLIX, a gaming company or any […]

Investment Bankers Say OOH Valuations Steady Despite Covid

Last week PJ Solomon investment banker Mark Boidman suggested that bid ask spreads are widening in the out of home market.  Insider asked some out of home investment bankers to comment and they suggested that while some buyers are discounting bids for covid, other buyers aren’t. Max Drachman says there’s […]

Clear Channel Outdoor Outperforms Expectations for Third Quarter 2020

Clear Channel Outdoor announced better than expected third quarter 2020 results due to a rebound in Europe.  Here are the results of the earnings release, earnings presentation and conference call. Revenue declined 32% to $448 million in the third quarter of 2020 versus a decline of 55% during the second […]

JCDecaux Revenue Down 41% in 3Q 2020

Insider has two thoughts about last Friday’s JCDecaux third quarter earnings announcement. Billboards and street furniture are rebounding from covid the fastest. JCDecaux revenue was down 41% in the 3rd quarter of 2020.  The worst impact of covid was on the company’s transit business which is down 52%.  Covid needs to […]

Lamar Revenue Down 15% in Third Quarter 2020

Lamar is recovering from covid faster than OUTFRONT, Clear Channel Outdoor or JCDecaux and will aggressively deploy digital billboards in 2021.  Here are the results of the Lamar 3rd quarter earnings release and conference call. Revenues declined 15% to $386 million during the third quarter of 2020.  This was an […]

Outfront Revenue Down 39% for Third Quarter 2020

Not good, but improving is how Insider summarizes OUTFRONT’s third quarter 2020 earnings.  Here are the results from OUTFRONT’s 3Q 2020 earnings release, earnings deck and conference call. Revenues declined 39% to $282 million during the third quarter of 2020 as primarily because transit revenues are lagging due to low […]