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Emerald Expositions Events, Inc. (EEX) Reports Q1 EPS of $0.44

May 25, 2017 6:32 AM EDT

Emerald Expositions Events, Inc. (NYSE: EEX) reported Q1 EPS of $0.44, versus $0.45 reported last year. Revenue for the quarter came in at $135.7 million, versus $127.8 million reported last year.

  • Revenues increased 6.1% to $135.7 million, compared to $127.8 million for first quarter 2016
  • Net income increased by approximately $0.1 million to $28.3 million, compared to $28.2 million for first quarter 2016
  • Adjusted EBITDA, a non-GAAP measure, increased 1.7% to $72.9 million, compared to $71.7 million for first quarter 2016
  • Free Cash Flow, a non-GAAP measure, decreased by approximately $1.0 million to $28.5 million, compared to $29.5 million for first quarter 2016
  • Completed two acquisitions (CEDIA Expo and InterDrone) for a combined purchase consideration of approximately $44 million

“I am pleased with our first quarter results where we delivered total revenue growth of 6%, approximately half organic and half from acquisitions,” said David Loechner, President and Chief Executive Officer of Emerald. “We also added two leading shows to the portfolio in the first quarter and our thesis of acquiring shows from associations, as well as from independent owners, continues to be realized.”

GUIDANCE:

  • Emerald Expositions Events, Inc. sees FY2017 revenue of $348-355 billion.
  • Organic revenue growth of zero percent to 2.0%
  • Adjusted EBITDA of $154 million to $160 million, or growth of 1.2% to 5.2%

Mr. Loechner noted, “While several very specific issues related to a few of our shows are likely to constrain 2017’s overall organic growth rate, I am pleased with the positioning of our business in the industries that we serve, and I am confident that this portfolio will deliver solid organic growth going forward. Strategic acquisitions will also be an important long-term growth driver for our company to supplement this organic growth.”

The range for 2017 Adjusted EBITDA does not include the impact of the SIA Snow Show acquisition as the 2017 event took place prior to our acquisition of the show; however, it does include approximately $3 million of incremental costs in 2017 associated with operating as a public company and strengthening our internal M&A capabilities.

For earnings history and earnings-related data on Emerald Expositions Events, Inc. (EEX) click here.



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