Clear Channel Outdoor Holdings
The 10-second takeaway
For the quarter ended March 31 (Q1), Clear Channel Outdoor Holdings met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. GAAP loss per share expanded.
Gross margins grew, operating margins grew, net margins contracted.
Clear Channel Outdoor Holdings chalked up revenue of $650.2 million. The six analysts polled by S&P Capital IQ wanted to see net sales of $654.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.22. The five earnings estimates compiled by S&P Capital IQ predicted -$0.14 per share. GAAP EPS were -$0.22 for Q1 against -$0.15 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.4%, 90 basis points better than the prior-year quarter. Operating margin was -0.2%, 110 basis points better than the prior-year quarter. Net margin was -11.4%, 470 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $770.3 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $3.01 billion. The average EPS estimate is -$0.11.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 84 members out of 119 rating the stock outperform, and 35 members rating it underperform. Among 40 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 give Clear Channel Outdoor Holdings a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Clear Channel Outdoor Holdings is hold, with an average price target of $5.80.
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