The public out of home companies underperformed the market for the second quarter of 2025 due to worries that tarrifs might slow the economy and generate a reduction in advertising.  Here’s a review of public stock performance, analyzed and sponsored by SignValue.   During the second quarter of 2025 the S&P 500 grew 11%, Lamar grew 7.9%, Clear Channel Outdoor grew 6.4% and Outfront grew 0.25%.

Stock Performance for 3 months ended June 30, 2025.  S&P 500 (red), Lamar (green), Clear Channel Outdoor (blue) and OUTFRONT (purple).

The trend looks worse year to date.  For the first half of 2025 the S&P 500 grew 5.5%, Lamar declined 0.31%, OUTFRONT declined 10.2% and Clear Channel Outdoor declined 14.6%.   Tariffs and economic uncertainty haven’t been good for out of home so far this year.

Stock Performance for 6 months ended June 30, 2025.  S&P 500 (red), Lamar (green), Clear Channel Outdoor (blue) and OUTFRONT (purple).

Here’s an 18 year lookback on public out of home stock performance.  The S&P has grown 397%, Lamar frew 163%, OUTFRONT has declined 45% and Clear Channel Outdoor has declined 94%.  The OUTFRONT (transit and urban) and Clear Channel Outdoor (international) strategies didn’t work.  This is why the emphasis on margins at OUTFRONT is a good thing.

Stock Performance for 18 years ended June 30, 2025.  S&P 500 (red), Lamar (green), Clear Channel Outdoor (blue) and OUTFRONT (purple).

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