Clear Channel Outdoor Holdings, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: CCO · Form: 10-Q · Filed: May 9, 2024 · CIK: 1334978
Sentiment: neutral
Topics: 10-Q, Quarterly Report, Financials, Advertising, Clear Channel Outdoor
TL;DR
<b>Clear Channel Outdoor Holdings, Inc. filed its Q1 2024 10-Q report on May 9, 2024.</b>
AI Summary
Clear Channel Outdoor Holdings, Inc. (CCO) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. The filing was submitted on May 9, 2024. The company's principal business is in Services-Advertising (SIC code 7310).
Why It Matters
For investors and stakeholders tracking Clear Channel Outdoor Holdings, Inc., this filing contains several important signals. This 10-Q filing provides the latest quarterly financial performance and operational updates for Clear Channel Outdoor Holdings, Inc. Investors and analysts can use this report to assess the company's financial health, profitability, and strategic direction in the advertising sector.
Risk Assessment
Risk Level: low — Clear Channel Outdoor Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile.
Analyst Insight
Monitor future filings for detailed financial results and management commentary to assess performance trends and strategic initiatives.
Key Players & Entities
- Clear Channel Outdoor Holdings, Inc. (company) — Filer of the 10-Q report
- 2024-03-31 (date) — Conformed period of report
- 2024-05-09 (date) — Filed as of date
- 7310 (other) — Standard Industrial Classification code for Services-Advertising
FAQ
When did Clear Channel Outdoor Holdings, Inc. file this 10-Q?
Clear Channel Outdoor Holdings, Inc. filed this Quarterly Report (10-Q) with the SEC on May 9, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Clear Channel Outdoor Holdings, Inc. (CCO).
Where can I read the original 10-Q filing from Clear Channel Outdoor Holdings, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Clear Channel Outdoor Holdings, Inc..
What are the key takeaways from Clear Channel Outdoor Holdings, Inc.'s 10-Q?
Clear Channel Outdoor Holdings, Inc. filed this 10-Q on May 9, 2024. Key takeaways: Filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of 2024.. The company's fiscal year ends on December 31st..
Is Clear Channel Outdoor Holdings, Inc. a risky investment based on this filing?
Based on this 10-Q, Clear Channel Outdoor Holdings, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile.
What should investors do after reading Clear Channel Outdoor Holdings, Inc.'s 10-Q?
Monitor future filings for detailed financial results and management commentary to assess performance trends and strategic initiatives. The overall sentiment from this filing is neutral.
How does Clear Channel Outdoor Holdings, Inc. compare to its industry peers?
Clear Channel Outdoor Holdings operates in the advertising industry, specifically focusing on outdoor advertising platforms.
Are there regulatory concerns for Clear Channel Outdoor Holdings, Inc.?
The company is subject to SEC regulations for public companies, requiring regular filings like the 10-Q.
Industry Context
Clear Channel Outdoor Holdings operates in the advertising industry, specifically focusing on outdoor advertising platforms.
Regulatory Implications
The company is subject to SEC regulations for public companies, requiring regular filings like the 10-Q.
What Investors Should Do
- Review the full 10-Q filing for detailed financial statements and disclosures.
- Analyze revenue trends and segment performance if available in the full report.
- Compare key financial metrics against previous periods and industry benchmarks.
Key Dates
- 2024-03-31: End of Reporting Period — Covers the first quarter of 2024 financial performance.
- 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal quarter ending March 31, 2024, providing the latest financial snapshot.
Filing Stats: 4,573 words · 18 min read · ~15 pages · Grade level 18 · Accepted 2024-05-08 18:11:21
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value per share CCO New York Stock
Filing Documents
- cco-20240331.htm (10-Q) — 1108KB
- exhibit311-ccoh2024q1.htm (EX-31.1) — 11KB
- exhibit312-ccoh2024q1.htm (EX-31.2) — 11KB
- exhibit321-ccoh2024q1.htm (EX-32.1) — 4KB
- exhibit322-ccoh2024q1.htm (EX-32.2) — 4KB
- cco-20240331_g1.jpg (GRAPHIC) — 28KB
- 0001334978-24-000012.txt ( ) — 6221KB
- cco-20240331.xsd (EX-101.SCH) — 38KB
- cco-20240331_cal.xml (EX-101.CAL) — 91KB
- cco-20240331_def.xml (EX-101.DEF) — 199KB
- cco-20240331_lab.xml (EX-101.LAB) — 552KB
- cco-20240331_pre.xml (EX-101.PRE) — 379KB
- cco-20240331_htm.xml (XML) — 813KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 32
Controls and Procedures
Item 4. Controls and Procedures 33
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 34
Risk Factors
Item 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 34
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 34
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 35
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIES INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Page Number
Financial Statements
Financial Statements: Consolidated Balance Sheets 3 Consolidated Statements of Loss 4 Consolidated Statements of Comprehensive Loss 5 Consolidated Statements of Changes in Stockholders' Deficit 6 Consolidated Statements of Cash Flows 7 Condensed Notes to Consolidated Financial Statements: Note 1. Basis of Presentation 8 Note 2. Dispositions and Discontinued Operations 8 Note 3. Segment Data 10 Note 4. Revenue 12 Note 5. Long-Term Debt 13 Note 6. Commitments and Contingencies 16 Note 7. Income Taxes 16 Note 8. Property, Plant and Equipment 16 Note 9. Intangible Assets and Goodwill 17 Note 10. Net Loss Per Share 18 Note 11. Other Information 19 2 Table of Contents CLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 193,236 $ 251,652 Accounts receivable, net 425,959 499,811 Prepaid expenses 48,830 49,398 Other current assets 22,173 25,227 Current assets of discontinued operations 128,495 131,313 Total Current Assets 818,693 957,401 PROPERTY, PLANT AND EQUIPMENT Structures, net 463,460 467,261 Other property, plant and equipment, net 183,833 199,083 INTANGIBLE ASSETS AND GOODWILL Permits, net 657,083 665,687 Other intangible assets, net 235,475 239,187 Goodwill 653,208 656,563 OTHER ASSETS Operating lease right-of-use assets 1,503,040 1,491,302 Other assets 44,651 45,991 Total Assets $ 4,559,443 $ 4,722,475 CURRENT LIABILITIES Accounts payable $ 63,298 $ 63,587 Accrued expenses 309,298 385,620 Current operating lease liabilities 211,258 216,578 Accrued interest 78,208 97,671 Deferred revenue 68,462 50,882 Current portion of long-term debt 617 612 Current liabilities of discontinued operations 64,885 68,778 Total Current Liabilities 796,026 883,728 NON-CURRENT LIABILITIES Long-term debt 5,651,485 5,631,291 Non-current o