EEX - Emerald Expositions reports Q2 earnings; reaffirms FY23 outlook

2023-08-02 06:28:48 ET

• Emerald Expositions press release ( NYSE: EEX ): Q2 GAAP EPS of -$0.29 beats by $0.01 .
• Revenue of $86.5M (+21.1% Y/Y) in-line.
• Organic Revenues, a non-GAAP measure, which takes into account the impact of acquisitions and scheduling adjustments, of $79.2 million for the second quarter 2023, an increase of $7.9 million, or 11.1%, from $71.3 million for the second quarter 2022.
• Ended the quarter with $204.7 million in cash and full availability of its $110.0 million revolving credit facility.
• For the full year 2023, the Company continues to expect to generate in excess of $400 million of revenue vs. consensus of $401.85M and $100 million of Adjusted EBITDA.
• David Doft, Emerald’s Chief Financial Officer, added, “Our outlook this year implies a more than 20% year-over-year increase in revenue and a 76% year-over-year increase in Adjusted EBITDA, reflecting both the strength of the recovery and our significant operating leverage. "

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