The digital billboard manufacturer Daktronics announced higher profits for the second quarter of fiscal 2017. You can listen to the earnings webcast here download the firm’s investor slides here. Net sales increased 8% to $170 million during the second quarter of fiscal 2017 (3 months ended October 29, 2016). Commercial unit sales, […]
You should never finance an Alabama billboard with a lease instead of a loan. The State of Alabama has a punitive rental tax which applies to leases and rentals. Here’s the Alabama tax law: 810-6-5-.09 Leasing and Rental of Tangible Personal Property. (1) The term “rental tax” as used in […]
Here are the highlights from Clear Channel Outdoor’s third quarter 2016 financials and webcast. You can also read a Seeking Alpha transcript of the webcast here. Clear Channel Outdoor consolidated revenue declined by 3.3% to $673 million due to asset sales and the impact of foreign exchange fluctuations. Organic revenue growth […]
Landmark Infrastructure has announced third quarter 2016 financials. Here are the highlights of the firm’s press release and webcast. Third quarter revenue increased by 59% to 8.8% million due to acquisitions. Third quarter adjusted EBIDTA increased by 63% to $8.3 million. The company has been busy raising capital for acquisitions. […]
Outfront announced financials for the third quarter of 2006. Here are the highlights from the earnings release and webcast. Revenues declined 1% to $383 million during the third quarter of 2016 due to the disposition of the company’s Latin American operations. Organic revenues (excluding the impact of acquisitions and […]
Lamar released financials for the third quarter 2016. Here are the highlights. Revenue increased 10.5% to $388 million during the third quarter due to additional revenue from the Clear Channel Outdoor acquisitions. Revenue increased 3.6% when adjusted for acquisitions due to healthy increase in digital sign revenue (up 6.6%) and […]
Max Drachman is a outdoor advertising industry investment banker with Kalil and Co. Insider interviewed Drachman last week about trends in the outdoor advertising M&A market. Max, have you closed any transactions since the last time we checked in with you in early September? Yes, we have closed four more […]
Seeking Alpha reports that Landmark Infrastructure, the outdoor lease and easement purchaser, has issued 3 million shares in new common stock. Insider calculates that the company raised $49 million based on 10/14/16 share price of $16.33. Landmark is using the cash to pay down revolving debt. It will ultimately […]
Non-competes are an important but often overlooked aspect of selling an outdoor company. We asked Gabe Oliverio to discuss what sellers should be thinking about when they negotiate a non-compete. Gabe is a managing director at Johnsen, Fretty & Co, an investment bank which specializes in divestitures, acquisitions, […]
Public outdoor company valuations shrank slightly during the third quarter of 2016 as this chart demonstrates: Public Company Outdoor Values September 2016 The average revenue multiple for the four public outdoor companies shrank from 3.74 times to 3.60 times. JCDecaux, Clear Channel Outdoor and Outfront trade at a lower revenue […]
