Insider has reported on the Payroll Protection Program in which the SBA was tasked with supporting small businesses through a loan program that was ultimately funded to the tune of $659 billion. The PPP program was due to expire at midnight on June 30 with funds remaining, but just hours […]
How has COVID impacted the spending of the US public out of home companies? Here’s Insider’s analysis. Expenses Down 26% Now is not a good time to ask for a raise. The big three cut their expenses by a total of $284 million or 26% during the the second quarter […]
Who would think that the management of a major public out of home company would celebrate a 35% revenue decline but COVID has changed everyone’s perspective. Here are comments of Clear Channel Outdoor Worldwide CEO William Eccleshare and CFO Brian Coleman on last Friday’s earnings call. William Eccleshare on the […]
Better than JCDecaux but worse than OUTFRONT or Lamar or Link Media was how you could summarize Clear Channel Outdoor’s second quarter 2020. Here are the results from the second quarter 2020 earnings release. Consolidated revenue declined 55% to $315 million during the second quarter of 2020. Americas was down […]
Boston Omaha, the public parent of Link Media Outdoor released second quarter 2020 financials. Here are the results of the second quarter 2020 earnings release. We’ve broken out Link Media’s performance below. Link Media Outdoor Performance for Second Quarter 2020 (000’s) Link Media Outdoor revenues declined 7% to $6.7 million […]
Lamar revenues declined 22% during the second quarter 2020. Revenues have improved but the company projects revenues will be down 13-14% for the full year 2020. Here are the results from Lamar’s 2Q 2020 earnings release. Revenues declined 22% to $347 during the second quarter of 2020. CEO Sean Reilly […]
OUTFRONT’s urban and transit plant had a 49% drop in revenue and cashflow during the second quarter of 2020 and CEO Jeremy Male expect third quarter revenues to be down 35-40% from the prior year. Here are the results from the OUTFRONT earnings release, OUTFRONT investor presentation and OUTFRONT earnings call. […]
PJ Solomon issued its 2020 advertising trends reports yesterday. Here’s a page from the report summarizing 2020 forecasts for out of home. Industry revenues will be down 15-20% in 2020. OUTFRONT and Clear Channel Outdoor will be hit harder than Lamar because they have more concentration in international, urban, transit […]
Jean-Francois Decaux’s comments on last seek’s JCDecaux earnings call highlighted the uncertainty as to how fast transit and airport advertising markets will recover from covid. Here are two slides which illustrate the company’s predicament together with Jean-Francois Decaux’s comments. Many JCDecaux’s transit markets haven’t recovered. As of last week, you […]
JCDecaux released first half 2020 financials yesterday and the results weren’t pretty for this urban out of home and transit advertising company. We’ve translated the financials from euros to dollars. JCDecaux Financials for first half of 2020 (million’s) Revenues declined by 42% to $1.2 billion of the first 6 months […]
