Clear Channel Outdoor Holdings Files Q3 2024 10-Q
Ticker: CCO · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1334978
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
CCO's Q3 2024 10-Q is in. Check financials.
AI Summary
Clear Channel Outdoor Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations during the third 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 data for Clear Channel Outdoor Holdings, enabling them to assess the company's performance and make informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health or risks.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the specific quarter for which financial data is reported.)
Key Players & Entities
- Clear Channel Outdoor Holdings, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241031 (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 third quarter of 2024, ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on October 31, 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 SERVICES-ADVERTISING [7310].
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: 4,722 words · 19 min read · ~16 pages · Grade level 18.2 · Accepted 2024-10-30 19:22:09
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share CCO New York Stock
Filing Documents
- cco-20240930.htm (10-Q) — 1493KB
- exhibit102-ccoh2024q3.htm (EX-10.2) — 110KB
- exhibit311-ccoh2024q3.htm (EX-31.1) — 11KB
- exhibit312-ccoh2024q3.htm (EX-31.2) — 11KB
- exhibit321-ccoh2024q3.htm (EX-32.1) — 4KB
- exhibit322-ccoh2024q3.htm (EX-32.2) — 4KB
- cco-20240930_g1.jpg (GRAPHIC) — 28KB
- 0001334978-24-000030.txt ( ) — 7632KB
- cco-20240930.xsd (EX-101.SCH) — 39KB
- cco-20240930_cal.xml (EX-101.CAL) — 91KB
- cco-20240930_def.xml (EX-101.DEF) — 219KB
- cco-20240930_lab.xml (EX-101.LAB) — 596KB
- cco-20240930_pre.xml (EX-101.PRE) — 414KB
- cco-20240930_htm.xml (XML) — 1091KB
—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 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 40
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 41
Risk Factors
Item 1A. Risk Factors 41
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 41
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 41
Other Information
Item 5. Other Information 41
Exhibits
Item 6. Exhibits 43
– 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) September 30, 2024 December 31, 2023 (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 201,111 $ 251,652 Accounts receivable, net 495,807 499,811 Prepaid expenses 54,590 49,398 Other current assets 19,888 25,227 Current assets of discontinued operations 134,768 131,313 Total Current Assets 906,164 957,401 PROPERTY, PLANT AND EQUIPMENT Structures, net 463,238 467,261 Other property, plant and equipment, net 175,442 199,083 INTANGIBLE ASSETS AND GOODWILL Permits, net 624,723 665,687 Other intangible assets, net 228,562 239,187 Goodwill 662,415 656,563 OTHER ASSETS Operating lease right-of-use assets 1,538,452 1,491,302 Other assets 45,530 45,991 Total Assets $ 4,644,526 $ 4,722,475 CURRENT LIABILITIES Accounts payable $ 57,080 $ 63,587 Accrued expenses 322,589 385,620 Current operating lease liabilities 225,561 216,578 Accrued interest 121,757 97,671 Deferred revenue 102,799 50,882 Current portion of long-term debt 570 612 Current liabilities of discontinued operations 74,006 68,778 Total Current Liabilities 904,362 883,728 NON-CURRENT LIABILITIES Long-term debt 5,656,821 5,631,291 Non-cur