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Mar 31, 2021
Clear Channel Q1 2021 Earnings Report
Reported financial results, reflecting the continued impact of the pandemic on global advertising spend coupled with a tough comparison against the strong performance in the comparable period last year.
Key Takeaways
Clear Channel Outdoor Holdings, Inc. reported financial results for the quarter ended March 31, 2021, with revenue impacted by the pandemic. The company is focusing on technology investments and cost management to drive future growth.
Americas revenue was $211.9 million, a decrease compared to $295.8 million in the same period last year.
Europe revenue was $149.5 million, a decrease compared to $211.7 million in the same period last year.
Consolidated net loss was $333.5 million, compared to $289.2 million in the same period last year.
The company is directing investments in technology, including expanding the digital platform and strengthening data analytics.
Revenue by Segment
Forward Guidance
For the second quarter, Clear Channel expects Americas revenue to be between $265 million and $275 million and Europe revenue to be between $200 million and $220 million.
Positive Outlook
- Americas revenue expected to be between $265 million and $275 million.
- Adjusted EBITDA margin improving sequentially from the first quarter in Americas.
- Europe revenue expected to be between $200 million and $220 million, excluding foreign exchange impacts.
- Company expects the market environment to continue to improve as the year progresses.
- Consolidated revenue returning to growth in the second quarter as compared to the prior year.
Challenges Ahead
- The restructuring charges are preliminary estimates and may be materially different.
- There is no guarantee that the Company will achieve the cost savings that it expects.
- Second quarter expected results may be impacted by factors outside of the Company’s control.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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