OUTFRONT and Lamar Advertising outpaced the market during the first quarter of 2024.  OUTFRONT was up 20% for the first quarter on news that revenues are finally rebounding from covid and low to mid single digit revenue guidance for 2024.  Lamar Advertising rose 12% versus a 10% rise in the S&P 500.  Clear Channel Outdoor declined 9% on weak revenue performance in the first quarter.

Here’s the situation on a trailing 12 months.   Clear Channel Outdoor is up 53% after announcing asset sales, the S&P 500 is up 30%, Lamar up 25% and OUTFRONT up 9%.

And here’s what things look like on a trailing 5 years.  All of the out of home companies trail the S&P 500 poorer performance during and just after covid.  The S&P is up 85% for the past five years, Lamar up 51%, OUTFRONT is down 28% and Clear Channel Outdoor is down 69%.

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