Company: CCO
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001334978-25-000012
Chunk: 41

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 41
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 Interest expense, net(99,361)(101,695) Loss on extinguishment of debt— (2,393)Other income (expense), net249 (8,849) Loss from continuing operations before income taxes(54,122)(69,052) Income tax expense attributable to continuing operations(1,180)(172) Loss from continuing operations(55,302)(69,224) Income (loss) from discontinued operations118,515 (19,859)Consolidated net income (loss)63,213 (89,083)Less: Net income attributable to noncontrolling interests704 584  Net income (loss) attributable to the Company$62,509 $(89,667) 

(1)Excludes depreciation and amortization

Consolidated Revenue

Consolidated revenue increased by $7.3 million, or 2.2%, during the three months ended March 31, 2025 compared to the same period in 2024. The increase was primarily driven by the new roadside billboard contract with the Metropolitan Transportation Authority (“MTA”) in the America segment and higher national advertising demand in the Airports segment.

21

Overall, consolidated revenue growth was attributable to an increase in digital revenue, partially offset by a decline in print revenue. The table below provides additional information about consolidated digital revenue:

(In thousands)Three Months EndedMarch 31,%20252024ChangeDigital revenue$138,881$126,8299.5%Percent of total consolidated revenue41.6 %38.8 %

Consolidated Direct Operating Expenses

Consolidated direct operating expenses increased by $13.5 million, or 8.7%, during the three months ended March 31, 2025 compared to the same period in 2024. This increase was primarily driven by higher site lease expense, mainly due to the new MTA contract in the America segment, as well as reduced rent abatements and revenue growth in the Airports segment.

The table below provides additional information about certain drivers of consolidated direct operating expenses:

(In thousands)Three Months EndedMarch 31,%20252024ChangeSite lease expense$139,573 $126,861 10.0%Reductions of rent expense on lease and non-lease contracts from rent abatements299 4,814 (93.8)%Restructuring and other costs5 634 (99.2)%

Consolidated Selling