Clear Channel Outdoor Holdings, Inc. today reported its financial results for the third quarter ended September 30, 2024, showing consolidated revenue of $559.0 million, an increase of 6.1% year-over-year. Excluding movements in foreign exchange rates, revenue grew by 5.7%. The America segment's revenue rose 5.0% to $292.8 million, while the Airports segment saw a 9.0% increase to $82.3 million.
The company's loss from continuing operations improved significantly to $(31.5) million, compared to $(51.082) million in the prior year period. Adjusted EBITDA for the quarter was $142.8 million, up 2.6% year-over-year. Segment Adjusted EBITDA for America increased 5.8% to $128.4 million, and for Airports, it grew 9.0% to $16.9 million.
Clear Channel Outdoor also provided guidance for the fourth quarter and updated its full-year 2024 outlook. For Q4 2024, consolidated revenue is projected between $628 million and $653 million. Full-year 2024 consolidated revenue is expected to be between $2,222 million and $2,247 million, with Adjusted EBITDA between $560 million and $580 million. The company anticipates full-year Adjusted Funds From Operations (AFFO) to be between $90 million and $105 million, representing an 8% to 26% increase over the prior year.
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