Revenue: As of FY2026 Q2, the actual value is USD 438.04 M, beating the estimate of USD 426.07 M.

EPS: As of FY2026 Q2, the actual value is USD -0.01, beating the estimate of USD -0.0119.

EBIT: As of FY2026 Q2, the actual value is USD 89.06 M.

Consolidated Performance

Clear Channel Outdoor Holdings, Inc. reported a consolidated net loss of -$4,964 thousand for Q2 2026, compared to a net income of $10,649 thousand in Q2 2025. For the six months ended June 30, 2026, the consolidated net loss was -$52,958 thousand, a significant change from the $73,862 thousand net income in the same period of 2025.

Loss from continuing operations was -$10,002 thousand in Q2 2026, down from an income of $6,331 thousand in Q2 2025. For the six months ended June 30, 2026, the loss from continuing operations was -$59,449 thousand, compared to -$48,971 thousand in the prior year period, representing a 21.4% increase in loss.

Adjusted EBITDA increased by 11.6% to $143,432 thousand in Q2 2026 from $128,558 thousand in Q2 2025. For the six months ended June 30, 2026, Adjusted EBITDA grew by 19.0% to $247,279 thousand from $207,815 thousand.

Adjusted Funds From Operations (AFFO) rose by 61.6% to $44,941 thousand in Q2 2026 from $27,817 thousand in Q2 2025. For the six months ended June 30, 2026, AFFO significantly increased to $51,479 thousand from $4,954 thousand in the prior year period.

Segment Revenue

America Segment revenue increased by 7.0% to $324,316 thousand in Q2 2026, from $303,111 thousand in Q2 2025. For the six months ended June 30, 2026, America segment revenue was $602,803 thousand, up 8.2% from $557,304 thousand in 2025. Digital revenue in America was $122.0 million, up 7.2% from $113.8 million, with national sales representing 33.9% of America revenue.

Airports Segment revenue increased by 14.0% to $113,601 thousand in Q2 2026, from $99,685 thousand in Q2 2025. For the six months ended June 30, 2026, Airports segment revenue was $208,827 thousand, up 16.2% from $179,668 thousand in 2025. Digital revenue in Airports was $73.4 million, up 15.6% from $63.5 million, with national sales representing 57.8% of Airports revenue.

Operational Costs

Consolidated Direct Operating and SG&A Expenses rose by 5.9% to $266,146 thousand in Q2 2026 from $251,241 thousand in Q2 2025. For the six months ended June 30, 2026, consolidated expenses increased by 6.1% to $512,840 thousand from $483,432 thousand.

America Segment Direct operating and SG&A expenses were $182,000 thousand in Q2 2026, up 3.7% from $175,510 thousand in Q2 2025, driven by higher employee compensation and a 2.1% increase in site lease expense to $96.1 million.

Airports Segment Direct operating and SG&A expenses were $83,745 thousand in Q2 2026, up 11.2% from $75,338 thousand in Q2 2025, primarily due to a 12.0% increase in site lease expense to $67.1 million.

Corporate expenses increased by 17.5% to $36,581 thousand in Q2 2026 from $31,123 thousand in Q2 2025, mainly due to higher employee compensation. Adjusted Corporate expenses increased by 24.1% to $28,557 thousand.

Segment Adjusted EBITDA

America Segment Adjusted EBITDA increased by 11.6% to $142,377 thousand in Q2 2026 from $127,601 thousand in Q2 2025. For the six months ended June 30, 2026, it increased by 14.7% to $247,079 thousand from $215,472 thousand.

Airports Segment Adjusted EBITDA increased by 22.8% to $29,890 thousand in Q2 2026 from $24,347 thousand in Q2 2025. For the six months ended June 30, 2026, it increased by 36.6% to $52,816 thousand from $38,660 thousand.

Capital Expenditures

Consolidated Capital Expenditures totaled $17,177 thousand in Q2 2026, up 33.9% from $12,827 thousand in Q2 2025. For the six months ended June 30, 2026, consolidated capital expenditures were $29,735 thousand, up 14.1% from $26,058 thousand.

America Segment capital expenditures were $13,754 thousand in Q2 2026, up 55.8% from $8,827 thousand. Airports Segment capital expenditures were $2,157 thousand in Q2 2026, down -15.7% from $2,559 thousand.

Liquidity and Financial Position

As of June 30, 2026, Clear Channel Outdoor Holdings, Inc. had $202.3 million in cash and cash equivalents, including $10.1 million held by discontinued operations in Spain.

For the six months ended June 30, 2026, net cash provided by operating activities was $47,840 thousand, net cash used for investing activities was -$34,728 thousand, and net cash used for financing activities was -$20,989 thousand. Cash paid for interest was $205,848 thousand, and cash paid for income taxes, net of refunds, was $997 thousand.

Long-term debt (including current portion) was $5,107,629 thousand as of June 30, 2026. The company expects to pay approximately $197 million in cash interest during the second half of 2026 and $394 million in 2027. The next significant debt maturities are $899.3 million of 7.750% Senior Notes and $425.0 million under the term loan facility in 2028.

Operational Metrics

As of June 30, 2026, Clear Channel Outdoor Holdings, Inc. operated more than 64,500 print and digital out-of-home displays across 83 U.S. Designated Market Areas. The total number of displays was 64,521, including 5,145 digital and 59,376 printed displays.

Outlook / Guidance

Clear Channel Outdoor Holdings, Inc. is not providing financial guidance due to its pending take-private merger, which is expected to close by the end of the third quarter of 2026, subject to customary closing conditions and regulatory approvals. The company intends to use net proceeds from the sale of its Spain business to reduce outstanding debt, contingent on the merger’s outcome.