Clear Channel Outdoor Holdings Q2 2024 10-Q Filed
Ticker: CCO · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 1334978
Sentiment: neutral
Topics: 10-Q, earnings, financials
Related Tickers: CCO
TL;DR
**CCO Q2 2024 10-Q is IN! Check financials & ops.**
AI Summary
Clear Channel Outdoor Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates for the second quarter of 2024. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Clear Channel Outdoor Holdings, Inc., crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.
Key Numbers
- 2024 Q2 — Reporting Period (Indicates the quarter for which financial data is reported.)
Key Players & Entities
- Clear Channel Outdoor Holdings, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240807 (date) — Filing date
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive overview of Clear Channel Outdoor Holdings, Inc.'s financial performance and operational status for the second quarter of 2024, ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on August 7, 2024.
What is the fiscal year-end for Clear Channel Outdoor Holdings, Inc.?
The company's fiscal year ends on December 31.
What is the Standard Industrial Classification (SIC) code for Clear Channel Outdoor Holdings, Inc.?
The SIC code is 7310, which falls under SERVICES-ADVERTISING.
Where is Clear Channel Outdoor Holdings, Inc. headquartered?
The company's business and mailing address is listed as 4830 NORTH LOOP 1604W, SUITE 111, SAN ANTONIO, TX 78249.
Filing Stats: 4,768 words · 19 min read · ~16 pages · Grade level 18.2 · Accepted 2024-08-06 20:50:05
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share CCO New York Stock
Filing Documents
- cco-20240630.htm (10-Q) — 1471KB
- exhibit103-ccoh2024q2.htm (EX-10.3) — 190KB
- exhibit311-ccoh2024q2.htm (EX-31.1) — 11KB
- exhibit312-ccoh2024q2.htm (EX-31.2) — 11KB
- exhibit321-ccoh2024q2.htm (EX-32.1) — 4KB
- exhibit322-ccoh2024q2.htm (EX-32.2) — 4KB
- cco-20240630_g1.jpg (GRAPHIC) — 28KB
- 0001334978-24-000022.txt ( ) — 7594KB
- cco-20240630.xsd (EX-101.SCH) — 40KB
- cco-20240630_cal.xml (EX-101.CAL) — 91KB
- cco-20240630_def.xml (EX-101.DEF) — 218KB
- cco-20240630_lab.xml (EX-101.LAB) — 593KB
- cco-20240630_pre.xml (EX-101.PRE) — 405KB
- cco-20240630_htm.xml (XML) — 1078KB
—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 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures
Item 4. Controls and Procedures 38
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 39
Risk Factors
Item 1A. Risk Factors 39
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 39
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 39
Other Information
Item 5. Other Information 39
Exhibits
Item 6. Exhibits 41
– 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 15 Note 6. Commitments and Contingencies 18 Note 7. Income Taxes 18 Note 8. Property, Plant and Equipment 18 Note 9. Intangible Assets and Goodwill 19 Note 10. Net Loss Per Share 20 Note 11. Other Information 21 2 Table of Contents CLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 189,300 $ 251,652 Accounts receivable, net 457,782 499,811 Prepaid expenses 48,045 49,398 Other current assets 18,890 25,227 Current assets of discontinued operations 139,657 131,313 Total Current Assets 853,674 957,401 PROPERTY, PLANT AND EQUIPMENT Structures, net 456,994 467,261 Other property, plant and equipment, net 171,044 199,083 INTANGIBLE ASSETS AND GOODWILL Permits, net 640,903 665,687 Other intangible assets, net 232,054 239,187 Goodwill 653,382 656,563 OTHER ASSETS Operating lease right-of-use assets 1,492,680 1,491,302 Other assets 43,632 45,991 Total Assets $ 4,544,363 $ 4,722,475 CURRENT LIABILITIES Accounts payable $ 64,965 $ 63,587 Accrued expenses 315,495 385,620 Current operating lease liabilities 216,038 216,578 Accrued interest 93,635 97,671 Deferred revenue 79,291 50,882 Current portion of long-term debt 602 612 Current liabilities of discontinued operations 62,944 68,778 Total Current Liabilities 832,970 883,728 NON-CURRENT LIABILITIES Long-term debt 5,654,084 5,631,291 Non-current op