Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 31

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 31
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 discussion of our results of operations focuses on continuing operations and is presented on both a consolidated and segment basis.

•Our operating segment profit measure is Segment Adjusted EBITDA, which is calculated as revenue less direct operating expenses and selling, general and administrative expenses, excluding restructuring and other costs. Restructuring and other costs are defined as costs associated with cost-saving initiatives such as severance, consulting and termination costs and other special costs.

•Corporate expenses, depreciation and amortization, other operating income and expense, non-operating income and expenses, and income taxes are managed on a total company basis and are therefore only included in our discussion of consolidated results of continuing operations.

•Results of discontinued operations are presented and discussed below separately from results of continuing operations.

24

Consolidated Results of Continuing Operations

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,% 20252024Change20252024ChangeRevenue$402,808 $376,483 7.0%$736,988 $703,323 4.8%Operating expenses:Direct operating expenses185,530 167,168 11.0%354,059 322,222 9.9%Selling, general and administrative expenses65,711 64,427 2.0%129,373 123,699 4.6%Corporate expenses31,123 34,047 (8.6)%50,903 63,921 (20.4)%Depreciation and amortization43,335 42,501 2.0%86,339 84,553 2.1%Other operating income, net(315)(90)(6,100)(3,387)Operating income77,424 68,430 122,414 112,315 Interest expense, net(96,026)(100,120) (195,387)(201,815) Gain (loss) on extinguishment of debt28,796 — 28,796 (2,393)Other income (expense), net663 449  912 (8,400) Income (loss) from continuing operations before income taxes10,857 (31,241) (43,265)(100,293) Income tax benefit (expense) attributable to continuing operations(4,526)5,827  (5,706)5,655  Income (loss) from continuing operations6,331 (25,414