Overview

• U.S. out-of-home advertiser's Q1 revenue rose, beating analyst expectations

• Q1 adjusted EBITDA increased 31%, also beating analyst expectations

Outlook

• Company is not providing financial guidance due to pending merger

Result Drivers

• AMERICA SEGMENT GROWTH - Revenue up 9.6% in America, led by strong demand from technology advertisers, Super Bowl LX impact, and higher print and digital billboard revenue

• AIRPORTS SEGMENT GROWTH - Revenue up 19.1% in Airports, driven by San Francisco International Airport, Super Bowl LX, and increased conference activity

• HIGHER OPERATING COSTS - Direct operating and SG&A expenses rose due to higher site lease expense and employee compensation, partially offset by lower payment processing fees

Company press release: ID:nPn3Q2VVfa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advertising & marketing peer group is "buy."

• Wall Street's median 12-month price target for Clear Channel Outdoor Holdings Inc is $2.43, about 1.7% above its May 5 closing price of $2.39

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