Clear Channel Outdoor Holdings Inc. (NYSE:CCO) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:30 am ET


Clear Channel Outdoor Holdings Inc. (NYSE:CCO) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen thank you for standing by. Welcome to the 2019 Third Quarter Earnings Conference Call for Clear Channel Outdoor Holdings Inc. [Operator Instructions].

I'll now turn the conference over to your host Eileen McLaughlin Vice President Investor Relations. Please go ahead.

Eileen McLaughlin

Good morning and thank you for joining Clear Channel Outdoor Holdings 2019 Third Quarter Earnings Call. On the call today are William Eccleshare Worldwide Chief Executive Officer; and Brian Coleman Chief Financial Officer of Clear Channel Outdoor Holdings Inc. In addition Scott Wells CEO Clear Channel Outdoor Americas is on the call. We'll provide an overview of the 2019 third quarter operating performances of Clear Channel Outdoor Holdings Inc. After an introduction and review of the quarter we'll open up the lines for questions. Before we begin I'd like to remind everyone that this conference call includes forward-looking statements. These statements include management's expectations beliefs and projections about performance and represent management's current beliefs. There can be no assurance that management's expectations beliefs or projections will be achieved or that actual results will not differ from expectations.

Please review the statements of Redis contained in our earnings press releases and findings with the SEC during today's call will provide certain performance measures that do not conform to generally accepted accounting principles. We provide schedules that reconcile these nine gap managers with our reporter results on gap data as part of our earnings press releases, and earnings conference call presentation, which can be found in the financial section of our website, www dot investor dot Clear Channel. com. Please note that our earnings release and the slide presentation are also available on our website, www dot investor Clear Channel calm in our integral to our earnings conference call. They provide a detailed breakdown of foreign exchange and non cash compensation expense items as well as segment revenues operating income and are evident among other important information. For that reason we ask that you view each side as William and Brian comments on them. Also, please note that the information provided on this call speaks only to management us as of today November six 2019 and may no longer be accurate at the time number replay.

With that I will now turn the call over to William Eccleshare.

William Eccleshare

Thank you Eileen. Good morning everyone and thank for taking the time to participate in today's call. As we discussed this summer our vision is to create a unique mass-reach global media platform delivering our client's messages across our distinctive portfolio of digital and traditional displays. With that in mind given that it is only our first full quarter reporting of financial results as an independent company I want to take this opportunity to explain our business our end market and our plan to execute on our vision and create shareholder value. Not only is 2019 a transition year for us in terms of separation from iHeart we believe it represents the transition in terms of operating performance as well. With challenging