CCO - Clear Channel Outdoor reports Q1 results; initiates Q2 and updates FY23 outlook

2023-05-09 06:12:10 ET

• Clear Channel Outdoor press release ( NYSE: CCO ): Q1 Revenue of $545.44M (+3.8% Y/Y) in-line.
• Guidance: Second Quarter of 2023 Consolidated Revenue of $635M - $660M vs. consensus of $671.38M.
• We have u pdated our full year 2023 guidance from the guidance previously provided in our earnings release issued on February 28, 2023 to reflect the sale of our business in Switzerland and a reduction in capital expenditures. Our revised full year 2023 guidance is as follows: Consolidated Revenue of $2,500M-$2,625M vs. consensus of $2.62B; Adjusted EBITDA of $525M-$585M

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