Q2 Reports From Lamar, Outfront, Clear Channel, JCDecaux

Q2 Reports From Lamar, Outfront, Clear Channel and JCDecaux

Lamar Advertising announced its operating results for the second quarter ended June 30, 2023. The company reported a 4.5% increase in net revenues, from $517.9 million in Q2 2022 to $541.1 million in Q2 2023. Operating income also increased by $10.3 million, from $166.5 million in Q2 2022 to $176.8 million in Q2 2023. The company attributed its strong performance to the recovery of the advertising market and the demand for its digital and transit products.

Outfront Media announced its financial results for the second quarter of 2023. The company reported a 4.1% increase in revenues, from $450.2 million in Q2 2022 to $468.8 million in Q2 2023, driven by higher billboard yields and growth from both its local and national businesses. Transit revenues increased 1%. The company also declared a quarterly dividend of $0.30 per share, payable on September 29, 2023.

Clear Channel Outdoor announced its financial results for the second quarter of 2023 on August 7, 2023. The company reported a slight decrease in overall revenues, from $641.5 million in Q2 2022 to $637.2 million in Q2 2023, mainly due to the impact of foreign exchange rates and the sale of its business in Italy and Spain. The company’s America’s division grew a modest 1%. However, the company also reported a significant reduction in net loss, from $65.8 million in Q2 2022 to $36.6 million in Q2 2023. The company also announced that it is in exclusive discussions to sell its business in France and that it continues to review strategic alternatives for its other European businesses.

JCDecaux announced its operating results for the second quarter ended June 30, 2023. The company reported a 7.5% increase in adjusted revenue, from €1,475.6 million in Q2 2022 to €1,585.0 million in Q2 2023. The company attributed its strong performance to the recovery of the advertising market and the growth of its digital and transit products. JCDecaux announced on May 30, 2023, that it has entered into agreements with Clear Channel Outdoor Holdings, Inc. to acquire its businesses in Italy and Spain.