Clear Channel Outdoor Q4 FFO Slips; Expects Annual Adj. FFO, Revenue To Improve

(RTTNews) - Clear Channel Outdoor Holdings, Inc. (CCO), an outdoor advertising company, on Monday reported a decline in its fourth-quarter Funds From Operations, or FFO, at $64.636 million, lesser than $83.112 million registered for the same period last year. Excluding items, FFO stood at $36.861 million as against the prior year's $36.506 million.

Net loss was $16.605 million, compared with a profit of $26.003 million a year ago. Revenue was $426.719 million, up from $416.014 million in 2023.

Looking ahead, for the first quarter, the company expects revenue of $329 million to $344 million, representing a year-on-year growth of 1 percent to 5 percent.

For the full year, Clear Channel Outdoor projects adjusted FFO of $73 million to $83 million, representing a year-on-year growth of 25 percent to 42 percent. Revenue is anticipated to be $1.562 billion to $1.607 billion, up 4 percent to 7 percent from last year.

Clear Channel Outdoor expects full-year capital expenditure of $75 million to $85 million.