Clear Channel Outdoor sees Q2 revenue $393M-$408M, consensus $393.07M

The company said, “We continue to make progress executing our strategic roadmap and are excited about our transition to a U.S.-focused business. Now that the majority of our international asset sales have closed, we believe that we have improved our financial resiliency and reduced our operational risk considerably. We have begun reducing debt, resulting in meaningful decreases in interest expense, and expect to continue to focus on the most advantageous debt in our capital structure, as permitted under our debt agreements. Additionally, we have successfully eliminated approximately $35 million in annual corporate expenses and expect to achieve further reductions in the future.”