Earnings calls are all too often can’t-say-don’t-know-won’t-tell. Not so with Lamar. CEO Sean Reilly was direct, factual and upbeat on yesterday’s call. Read his comments and you’ll understand why Lamar stock went up 18% yesterday. Sean Reilly on the now versus 2008-2009 I was the chief operating officer of the […]
“We were off to a strong start to 2020. Then over course the coronavirus pandemic adversely affected us and our customers in late March and through April. We have used that time to prepare the company for the downturn and ensure we emerge even stronger on the other side.” That’s […]
Here’s what Clear Channel Outdoor executives said about expense cuts, selling Latin America or Europe and the future on yesterday’s first quarter 2020 earnings call. Worldwide CEO William Eccleshare on Expense Cuts We are targeting over a $100 million reduction in operating costs in Q2 and at least $25 million […]
Clear Channel Outdoor announced first quarter 2020 financials yesterday. Consolidated revenue was down 6% as increased revenues in the US were offset by declining revenues in Europe and China. Cashflow declined 46% due to losses in Europe and China as well as increased corporate overhead. Here’s a summary of the […]
Crisis or opportunity. It depends on your perspective. If you kept your debt low during the past few years you’ve got an opportunity now Circle City Outdoor revenues are down due to the covid crisis. But Circle City has minimal debt and views the coronavirus as an opportunity to buy […]
SAN ANTONIO, April 28, 2020 /PRNewswire/ — Clear Channel OutdoorHoldings, Inc. (NYSE: CCO) (the “Company”), today announced that Clear Channel KNR Neth Antilles N.C., an indirect wholly owned subsidiary of the Company, has tendered its shares representing the Company’s 50.91% stake in Clear Media Limited (“Clear Media”), an indirect, non-wholly owned […]
Outfront issued its 2020 proxy last week. Some things to note. Who Makes What Here are the highest paid OUTFRONT executives. Most of their compensation is stock and incentive pay. An Independent Board The OUTFRONT board is 86% outsiders. Women account for 29% of board seats versus 25% of […]
Good news as Congress has approved another $310 billion in new funding to add into the cash depleted Payroll Protection loan program. An additional $174 Billion is included in the coronavirus relief bill to fund primarily SBA disaster assistance loans ($60 billion), grants to hospitals ($75 billion) and coronavirus testing […]
Sean Reilly tells investor conferences that he’s managed through three recessions at Lamar. It’s instructive to look at what Lamar did during the last recession for tips on how to weather the covid-19 recession. From 2007-2009, Lamar’s revenue declined by 12% and cashflow declined by 18%, but the corporate cashflow […]
NEW YORK, April 20, 2020 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that it, along with certain subsidiaries, entered into an amendment to the credit agreement governing its $500.0 million revolving credit facility due November 2024. The revolving credit portion of our senior credit facilities is subject to a […]
