Clear Channel Outdoor Holdings, Inc. reported third‑quarter 2025 results that showed revenue of $405.6 million, an 8.1% increase from $374.5 million a year earlier. The lift was driven by a 5.9% rise in the America segment to $309.9 million, helped by a new 15‑year roadside billboard contract with the Metropolitan Transportation Authority in New York, and a 16.1% jump in Airports revenue to $95.6 million, buoyed by strong demand at San Francisco and New York‑Jersey hubs. Digital and programmatic sales grew 6.9% and 37.4% respectively, underscoring the company’s digital expansion strategy.
The company posted a loss from continuing operations of $49.6 million, up from a $28.1 million loss a year earlier. The widening loss reflects one‑time restructuring charges and the costs associated with the recent debt‑refinancing program. The company’s earnings per share were $‑0.12, missing the consensus estimate of $‑0.04 by $0.08. The miss is largely attributable to the restructuring and debt‑refinancing costs that were not fully offset by the revenue growth.
Clear Channel Outdoor completed a $2.05 billion senior‑secured note offering, redeeming $2.0 billion of existing debt and extending maturities to 2031–2033. The company also closed the sale of its Spanish business for €115 million (≈$134.9 million) and its Brazil business for $15 million, further reducing leverage and simplifying the portfolio to focus on core U.S. operations.
Management guidance for the fourth quarter remains unchanged, with revenue projected at $441–$456 million and full‑year revenue at $1,584–$1,599 million. Adjusted EBITDA guidance is $490–$505 million and AFFO guidance is $85–$95 million, reflecting confidence in continued revenue growth and margin expansion. CEO Scott Wells said the results “continue the steady trend we’ve seen all year with solid revenue growth and strong liquidity, positioning us well to achieve our year‑end guidance.” CFO David Sailer added that the company is “powering our cash flow flywheel and expects to increase Adjusted EBITDA between 6% to 8% annually through 2028.”
The divestitures of the Spanish and Brazil businesses and the debt‑refinancing program signal a strategic pivot toward a leaner, U.S.‑centric portfolio. By monetizing lower‑margin international assets and reducing debt, the company aims to sharpen its focus on high‑margin digital and premium inventory in the America and Airports segments, positioning itself for long‑term profitability in a competitive out‑of‑home advertising market.
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