Clear Channel Outdoor: A Speculative Play Facing Headwinds

Matthew Smith profile picture
Matthew Smith


  • Rising interest rates are providing another headwind for CCO management's deleveraging plan.
  • Over the next 2-3 quarters, YoY comps will be impacted by higher interest expense and management might have to slightly adjust CapEx plans for 2023.
  • Even with this additional headwind, management has about 3 years to deleverage the balance sheet ahead of their large debt maturities, which appears doable at this time.
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In our high-risk, high-reward portfolio, Clear Channel Outdoor (NYSE:CCO) has been a clear laggard this year as they have been hit with quite a few headwinds over the last few quarters. In the midst of trying to divest assets in

This article was written by

Matthew Smith profile picture
Follow us on Twitter here: @theinvestar Previously a Trader/Portfolio Manager for a Treasury Office managing anywhere from $10-20 billion (treasury assets, retirement benefits, endowment related funds), currently part of a team that oversees an outside investment manager managing almost $30 billion. Previously the founder of, LLC., LLC was a leading news provider on the potash and uranium mining industries supplying data services, commentary, interviews, investment news, newsletters and quarterly industry publications.

Disclosure: I/we have a beneficial long position in the shares of CCO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: We may add to positions of CCO in personal or client portfolios over the next 24-72 hours.

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