Local is up but national and transit are down so OUTFRONT is treading water. That’s a summary of the OUTFRONT 3Q 23 earnings release, OUTFRONT 3Q 23 earnings presentation and conference call. Revenue increased by 0.2% to $455 million. Transit revenue was down 8.6%. Billboard revenues were up 2.6%. National […]
“The operating environment remained choppy in Q3 with customers continuing to take a cautious approach to their campaigns particularly on the national side,” was how Sean Reilly opened the Lamar 3Q earnings conference call. Here are the results of the Lamar 3Q 23 earnings release, Lamar 3Q 23 10Q and […]
Clear Channel Outdoor closed the sale of its business in France and retained investment bankers Moelis and Co and Deutsche Bank Securities to assist it in selling Europe North (e.g. UK and Scandinavia). It will also conduct a strategic review of the Latin American business (Mexico, Brazil, Chile, Peru), investor […]
Not a pretty picture for out of home stocks. All the public out of home companies failed to beat the market during the past three months due to fears about a recession impacting ad spending. The S&P 500 declined 10%. Lamar was off 17%, Boston Omaha down 27%, Clear […]
Billboard Insider asked SignValue’s Paul Wright to talk about OUTFRONT’s Canadian sale and new equity investors. Wright also talked about the return of airport traffic which is good news for OUTFRONT, JCDecaux and Clear Channel Outdoor. What’s your take on the OUTFRONT Canada sale? We like OUTFRONT’s sale of their […]
OUTFRONT shares increased 8% this week following news that the OUTFRONT is selling OUTFRONT Canada to Bell Media for $300 million US. Three things about the sale. Stock purchase The transaction is a purchase of the shares of OUTFRONT Canada, not a purchase of assets. This carries more risk for […]
Earlier this year Arte Moreno, Ernie Garcia and Verde Investments were part of a group that purchased 7.3% of the stock of Clear Channel Outdoor. They are at it again. This week Garcia’s Verde Investments and Artie Moreno purchased 5.2% of OUTFRONT Media’s common stock. Billboard Insider Values the groups […]
Two questions from Billboard Insider readers on our article suggesting that out of home projects should have a 15-25% hurdle rate. When you say an acceptable “hurdle rate” for OOH projects is 15% to 25%, does this mean that you should be able to have the project paid for in 6.5 […]
Clear Channel Outdoor has signed an agreement to sell its French out of home assets to Equinox Industries. Clear Channel Outdoor’s french business has 800 employees and annual revenues of $258 million equivalent in US dollars. The sale price is $76 million equivalent in US dollars including the $32 million […]
A hurdle rate is the minimum acceptable return on new capital expenditures. It is the excess cashflow (EBITDA) on a new out of home capital project divided by the incremental cost of the out of home capital project. Two-thirds of Billboard Insider’s readers have a hurdle rate for new out […]
