Clear Channel Outdoor (CCO) Reports Q1 Earnings: What Key Metrics Have to Say

Clear Channel Outdoor (CCO) reported $481.75 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 11.7%. EPS of -$0.17 for the same period compares to -$0.23 a year ago.

The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $480.69 million. With the consensus EPS estimate being -$0.18, the EPS surprise was +5.56%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Clear Channel Outdoor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Geographic Revenue- Americas: $249.80 million compared to the $248.75 million average estimate based on three analysts. The reported number represents a change of +5.8% year over year.
  • Geographic Revenue- Other International: $15.66 million versus the three-analyst average estimate of $19.62 million. The reported number represents a year-over-year change of -17.9%.
  • Geographic Revenue- Europe-North: $139.40 million compared to the $137.23 million average estimate based on three analysts.
  • Revenue- Airports: $76.93 million compared to the $76.60 million average estimate based on three analysts.
  • Adjusted EBITDA- Airports: $19.08 million versus the three-analyst average estimate of $10.78 million.
View all Key Company Metrics for Clear Channel Outdoor here>>>

Shares of Clear Channel Outdoor have remained unchanged over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Clear Channel Outdoor Holdings, Inc. (CCO) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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