Here are two tables, prepared by Moorgate Capital Partners, which calculate the weighted average cost of debt and leverage (net debt/adjusted cashflow) for the public out of home companies as of December 2023. Some observations: No surprise that the cost of debt goes up as leverage goes up. Clear Channel […]
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 […]
Here are five things about Lamar Advertising Billboard Insider learned from reading Lamar Advertising’s 2023 10-k. Billboards, Billboards, Billboards Lamar is all about roadside billboards. Roadside billboards have averaged 88-89% of Lamar’s total revenue for the past 10 years. The company’s highway sign logo business has accounted for 4-6% of […]
In July 2021 Lamar purchased a 20% stake in programmatic out of home sales company Vistar Media for $30 million. Lamar also has a seat on the Vistar Media board. The investment is accounted for using the equity method which means that Lamar recognizes 20% of Vistar Media net income […]
Lamar CEO Sean Reilly introduced Lamar’s 4Q 23 earnings release with a familiar script: “Revenue growth accelerated as we moved through the fourth quarter, primarily because of strength in local sales. In addition, our team continued to do an outstanding job controlling expenses…” Here are the results from Lamar’s 4Q […]
Here are Billboard Insider’s 5 most viewed stories during 2023. The most viewed Billboard Insider story during 2023 was our analysis of the purchase of a large block of Clear Channel Outdoor stock by an investor group which includes Artie Moreno and Verde Outdoor… Look Who Bought Clear Channel Outdoor […]
In the dynamic world of advertising, staying ahead of the curve is crucial for brands and marketers. As we step into 2024, the landscape is evolving rapidly, and Ian Dallimore’s predictions offer a glimpse into what lies ahead. Here’s a closer look at some of the exciting trends and changes […]
After reviewing Billboard Insider’s 10 year financial analysis of Lamar, OUTFRONT and Clear Channel Outdoor, out of home investment banker Jim Johnsen writes, “Thanks for interesting analysis Dave. How about looking at an ROA and an ROE statistic as well as Free cash flow per share? That would give us […]
Moorgate Capital Partners has compiled an interesting table showing the public OOH company M&A activity from 2019 to 2023. Some Billboard Insider observations. Acquisitions have slowed dramatically at the public out of home companies. They closed only $163 million in acquisitions during the first 9 months of 2023, down from […]
Moorgate Capital Partners has analyzed out of home leverage and cost of debt trends thru September 2023. Some chart’s in Moorgate’s report caught Billboard Insider’s eye. Weighted average debt costs have increased at the public out of home companies over the past two years although the rise has slowed during […]
