CLEAR CHANNEL OUTDOOR Reports Second Quarter Earnings Results for FY2023
August 13, 2023
☀️Earnings Overview
On August 7, 2023, CLEAR CHANNEL OUTDOOR ($NYSE:CCO) reported their financial earnings for the second quarter of 2023, ending June 30. Revenue for the quarter stood at USD 637.2 million, a 1.0% drop from the same period in the previous year. Net income improved by 43.4% from -65.7 million to -37.3 million year-over-year.
Stock Price
The company’s stock opened at $1.6 and closed at $1.6, representing a 3.6% decrease from its previous closing price of $1.7. Despite the decrease in stock price, CLEAR CHANNEL OUTDOOR reported strong operational results for the quarter. CLEAR CHANNEL OUTDOOR attributed the positive performance to the company’s investments in innovation and technology, which enabled the company to capture more market share and drive higher levels of customer engagement. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CCO. More…
| Total Revenues | Net Income | Net Margin |
| 2.49k | -13.28 | 0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CCO. More…
| Operations | Investing | Financing |
| 66.37 | -123.28 | -30.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CCO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.84k | 8.25k | -7.07 |
Key Ratios Snapshot
Some of the financial key ratios for CCO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.3% | 74.7% | 12.2% |
| FCF Margin | ROE | ROA |
| -4.5% | -5.6% | 3.9% |
Analysis
As part of GoodWhale’s analysis of CLEAR CHANNEL OUTDOOR’s financials, our star chart classified the company as ‘sloth’, indicating that its revenue or earnings growth is slower than the overall economy. This type of company may be of interest to investors who are looking for a steady dividend income or a long-term investment. Additionally, we determined that CLEAR CHANNEL OUTDOOR has an intermediate health score of 4/10 with regard to its cashflows and debt, suggesting that it is likely to sustain future operations in times of crisis. Furthermore, it is strong in liquidity, medium in profitability, and weak in asset, dividend, and growth. These metrics provide valuable insights into the financial health and stability of CLEAR CHANNEL OUTDOOR. More…
Peers
Clear Channel Outdoor Holdings Inc is one of the world’s largest outdoor advertising companies. Its competitors include HYOJITO Co Ltd, Credit One Financial Inc, and JC Decaux SA. Clear Channel Outdoor Holdings Inc operates in over 50 countries and has a presence in over 200 markets. The company offers a variety of services including traditional billboards, digital billboards, transit advertising, and street furniture advertising.
– HYOJITO Co Ltd ($TSE:7368)
HYOJITO Co Ltd is a Japanese company that manufactures and sells construction materials. The company has a market cap of 6.98B as of 2022 and a ROE of 5.41%. HYOJITO Co Ltd is a publicly traded company listed on the Tokyo Stock Exchange.
– Credit One Financial Inc ($LTS:0MGO)
JCDecaux SA is a French out-of-home advertising company founded in 1964 by Jean-Claude Decaux. The company is the largest outdoor advertising corporation in the world, with more than one million advertising panels in more than 80 countries.
JCDecaux’s market cap as of 2022 is 3.25B. The company has a ROE of 7.68%.
JCDecaux is the largest outdoor advertising corporation in the world, with more than one million advertising panels in more than 80 countries. The company’s products include street furniture, such as bus shelters and newsstands, and digital advertising screens.
Summary
CLEAR CHANNEL OUTDOOR’s second quarter earnings report for the fiscal year 2023 revealed total revenue of USD 637.2 million, representing a 1.0% decrease from the same period of the previous year. Net income was -37.3 million, representing a 43.4% year-over-year improvement from -65.7 million. Despite the improved net income, investors were not pleased with the results and the stock price of CLEAR CHANNEL OUTDOOR decreased on the same day.
This could be indicative of investor sentiment that the company’s performance is not sufficient to meet market expectations. As such, potential investors should take this into consideration when evaluating the potential of this stock.
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