UPDATE: Emerald Expositions Events, Inc. (EEX) Tops Q2 EPS by 1c, Revenues In-Line
Emerald Expositions Events, Inc. (NYSE: EEX) reported Q2 EPS of $0.23, $0.0.1 better than the analyst estimate of $0.22. Revenue for the quarter came in at $78.4 million versus the consensus estimate of $78.44 million.
Second Quarter 2018 Highlights
- Revenues increased 5.8% to $78.4 million, compared to $74.1 million for second quarter 2017
- Net income increased by $12.0 million to $5.9 million, compared to a net loss of $6.1 million for second quarter 2017
- Net cash provided by operating activities increased 14.2% to $33.8 million, compared to $29.6 million for second quarter 2017
- Adjusted EBITDA, a non-GAAP measure, decreased 1.4% to $29.2 million, compared to $29.6 million for second quarter 2017
- Adjusted Net Income, a non-GAAP measure, increased 45.9% to $17.8 million, compared to $12.2 million for second quarter 2017
- Free Cash Flow, a non-GAAP measure, increased 7.8% to $31.6 million, compared to $29.3 million for second quarter 2017
“The second quarter of the year played out much as we expected, with good growth in our trade show portfolio, led by strength in Hospitality Design Expo, Couture, and the International Contemporary Furniture Fair, combined with a solid contribution from last November’s Connecting Point Marketing Group acquisition, which hosted two successful events in the quarter. This strength was partially offset by a decline in one of our large conferences, together with continued soft results in several of our publications, in both cases in line with our expectations,” reported David Loechner, President and Chief Executive Officer of Emerald Expositions.
Mr. Loechner added, “As we continued to focus on delivering increased value to exhibitors and attendees across our trade show portfolio, we also remained active assessing potential acquisitions through the second quarter and have targets at various stages of evaluation in our robust deal pipeline. While we continue to see a significant opportunity to deliver growth through accretive acquisitions in what is a very fragmented B2B exposition sector, we have remained selective to ensure that we deliver value to shareholders. That said, we are optimistic that we will successfully execute against our M&A strategy over the coming quarters to drive an acceleration in our growth.”
For earnings history and earnings-related data on Emerald Expositions Events, Inc. (EEX) click here.