Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 5

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 5
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 on certain drivers of consolidated direct operating expenses.

(In thousands)Three Months EndedSeptember 30,%Nine Months EndedSeptember 30,%20252024Change20252024ChangeSite lease expense$153,165 $137,402 11.5%$446,768 $401,795 11.2%Reductions of rent expense on lease and non-lease contracts from rent abatements12 251 (95.2)%1,432 5,879 (75.6)%Restructuring and other costs3 86 (96.5)%8 1,064 (99.2)%

Consolidated Selling, General and Administrative (“SG&A”) Expenses

Consolidated SG&A expenses increased by $2.7 million, or 4.3%, for the three months ended September 30, 2025, and by $8.4 million, or 4.5%, for the nine months ended September 30, 2025, compared to the same periods in 2024. These increases were primarily driven by higher employee compensation, reflecting additional sales headcount and higher incentive-based pay across segments. 

These increases were partially offset by lower restructuring and other costs, as the prior-year periods included expenses related to the Company’s decision to reduce the scale of its operations in Singapore. The table below provides additional information on restructuring and other costs included within SG&A expenses.

(In thousands)Three Months EndedSeptember 30,%Nine Months EndedSeptember 30,%20252024Change20252024ChangeRestructuring and other costs$— $300 (100.0)%$— $1,735 (100.0)%

Corporate Expenses

Corporate expenses decreased by $1.0 million, or 3.3%, for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to certain legal costs recorded in the prior year related to property and casualty settlements.

Corporate expenses decreased by $14.0 million, or 14.7%, for the nine months ended September 30, 2025, compared to the same period in 2024, primarily attributable to the receipt of $10.1 million in insurance proceeds in the current year, related to the ongoing recovery of certain amounts previously incurred in connection with a resolved legal matter. These proceeds are reflected in “Restructuring and other costs (reversals)” in the table below. The year-to-date