The public out of home stocks trailed the US market in the second quarter of 2024. The S&P 500 grew 4%, Lamar grew 1.7%, Clear Channel Outdoor declined 14.5% and OUTFRONT declined 17.7%. Public Out of Home Stock Performance for 3 months ended June 30, 2024. S&P 500 (black), Lamar […]
Justin Powell of Huntington Outdoor asked the following question after reading our article on Billboard Cashflow: I understand that general depreciation shouldn’t count….but how about digital display replacement costs? Those are real and significant expenses you have every 10 years or so. If you don’t include those what you might actually […]
A Billboard Insider Reader writes: “I have always struggled when talking to owners about selling their signs and get the comment of “My cashflow is X and I heard they are selling for 12 times cashflow!” and then trying to explain to them that its Billboard Cashflow which also has […]
Here are highlights from Daktronics’ 4th quarter and fiscal year 2024 press release. Fiscal Q4 and full year 2024 financial highlights: Sales increased to a new record of $215.9 million for the fiscal fourth quarter, a 2.9 percent increase compared to the fiscal 2024 fourth quarter’s record revenue; full-year sales […]
Yesterday OUTFRONT Media closed the sale of Canadian out of home assets to Bell Media. Here is an analysis of the OUTFRONT Canada sale sponsored by SignValue. It makes OUTFRONT’s financials easier to understand The sale makes OUTFRONT a domestic US business. No currency risks and easier to evaluate and […]
NEW YORK, June 10, 2024 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) and Bell Media Inc., a wholly-owned subsidiary of BCE Inc. (TSX, NYSE: BCE), announced today that they have closed the sale of OUTFRONT Media’s Canadian business to Bell Media for a purchase price of C$410 million in cash, subject […]
Here are two tables, prepared by Moorgate Capital Partners, which calculate the weighted average cost of debt and leverage (net debt/adjusted cashflow) for the public out of home companies as of December 2023. Some observations: The cost of debt has been stable at the public out of home companies, after rising […]
Sky News reports that Clear Channel Outdoor is close to selling its British assets to Clairvest. The British inventory includes 2,000 sites across Greater London. Sky News quoted an industry source as saying the price would be several hundred million pounds and the pound is currently trading at $1.25 so […]
It is fashionable to say that out of home is a GDP-plus business, that is, that the US out of home business is growing faster than the US economy. This isn’t true if you compare historic US out of home advertising revenues against the change in the Nominal US Gross […]
Here’s a selection of Clear Channel CFO David Sailer’s comments at the TD Cowen Tech, Media and Telecom Conference yesterday. Problems in San Francisco I mean everyone was watching the news. It wasn’t good and our shelter business is in the city center and that really hurt us. It was […]
