Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 38

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 38
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63.7 %56.0 %62.8 %55.7 %

28

National sales accounted for 59.3% and 57.7% of Airports revenue for the three months ended June 30, 2025 and 2024, respectively, and 61.6% and 56.5% for the six months ended June 30, 2025 and 2024, respectively. The remainder was derived from local sales.

Airports Direct Operating Expenses

Airports direct operating expenses increased by $7.4 million, or 12.8%, for the three months ended June 30, 2025, and by $14.4 million, or 13.5%, for the six months ended June 30, 2025, compared to the same periods in 2024. These increases were driven by higher site lease expense, primarily reflecting revenue growth, with the increase for the six-month period also impacted by lower rent abatements.

The table below provides additional information on Airports site lease expense and rent abatements:

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeSite lease expense$59,915 $52,827 13.4%$111,153 $96,840 14.8%Reductions of rent expense on lease and non-lease contracts from rent abatements1,121 799 40.3%1,420 5,598 (74.6)%

Airports SG&A Expenses

Airports SG&A expenses increased by $0.8 million, or 8.9%, for the three months ended June 30, 2025, and by $1.5 million, or 8.3%, for the six months ended June 30, 2025, compared to the same periods in 2024. These increases were primarily driven by higher employee compensation, reflecting a larger sales headcount and pay increases.

Income (Loss) from Discontinued Operations

Income from discontinued operations improved significantly year over year, primarily reflecting cost reductions and, for the year-to-date period, a net gain recognized on international business sales completed in the first quarter of 2025.

For the three months ended June 30, 2025, income from discontinued operations was $4.3 million, reflecting results from our businesses in Spain and Brazil, partially offset by a $7.