Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 57

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 57
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8.6%SG&A expenses(1)55,116 54,269 1.6%109,023 103,571 5.3%Segment Adjusted EBITDA127,601 126,980 0.5%215,472 222,444 (3.1)%

(1)Includes restructuring and other costs that are excluded from Segment Adjusted EBITDA.

America Revenue

America revenue increased by $12.9 million, or 4.4%, for the three months ended June 30, 2025, and by $17.3 million, or 3.2%, for the six months ended June 30, 2025, compared to the same periods in 2024. These increases were primarily driven by the MTA contract and improved performance in the San Francisco/Bay Area market. 

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By format, growth was driven by digital revenue, reflecting the addition of new digital billboards to our portfolio, including boards operated under the MTA contract, and increased demand. The table below provides additional information on America digital revenue:

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeDigital revenue$113,800$102,42711.1%$203,424$186,6469.0%Percent of total segment revenue37.5 %35.3 %36.5 %34.6 %

By sales channel, the increases were primarily driven by local sales, reflecting continued strength in local advertising demand across various markets. National sales accounted for 33.7% and 35.0% of America revenue for the three months ended June 30, 2025 and 2024, respectively, and 34.0% and 34.8% for the six months ended June 30, 2025 and 2024, respectively. The remainder was derived from local sales.

America Direct Operating Expenses

America direct operating expenses increased by $11.3 million, or 10.4%, for the three months ended June 30, 2025, and by $18.4 million, or 8.6%, for the six months ended June 30, 2025, compared to the same periods in 2024. These increases were primarily driven by higher site lease expense, largely attributable to the MTA contract. The table below provides information on America site lease expense:

(In thousands)Three