Clear Channel reports robust 8.7% revenue increase

• Clear Channel Outdoor’s second-quarter revenue increased 8.7% to $438 million, supported by growth across America and Airports.
• Adjusted EBITDA rose 11.6% to $143.4 million, although the company recorded a consolidated net loss of $5.0 million.
• Clear Channel completed its $132.3 million Spain sale while awaiting completion of its $2.43-per-share take-private merger.

Clear Channel Outdoor (NYSE:CCO) reported second-quarter revenue of $438.0 million, up 8.7%, as roadside and airport advertising sales increased.

Revenue rose from $402.8 million, while adjusted EBITDA increased 11.6% to $143.4 million and AFFO climbed 61.6% to $44.9 million.

America revenue increased 7% to $324.3 million, while Airports revenue rose 14% to $113.6 million.

Operating income reached $89.1 million, but $99 million of net interest expense and $4.4 million of merger costs contributed to a $5 million consolidated net loss.

The company expects its take-private merger to close by the end of Q3 2026, and following the announcement, Clear Channel Outdoor's share price was down 0.4% at $2.42.

Clear Channel also completed the sale of its Spain business for approximately $132.3 million on August 4 and intends to use the net proceeds to reduce debt.

Shareholders approved the $2.43-per-share cash merger in May, although completion remains subject to regulatory approvals and other closing conditions.