Emerald Holding, Inc. · NYSE:EEX
Emerald — Q1 2024 Earnings Presentation
18 slides from Emerald's earnings presentation, May 7, 2024
Slide 1: Emerald Holding, Inc. First Quarter 2024
Emerald Holding, Inc. First Quarter 2024 May 7, 2024 Exhibit 99.2
Slide 2: Forward-Looking Statements
Notes Forward-Looking Statements The information provided in this presentation is for general informational purposes only. This document contains certain forward-looking statements regarding Emerald Holding, Inc. and its subsidiaries (the “Company”), including, without limitation, the Company’s abil
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key Q1 2024 Takeaways
Key Q1 2024 Takeaways Continued year-over-year growth supported by positive trends in exhibitor and attendee counts, square footage, and pricing. Strong re-booking trends provide forward visibility and support reiterated outlook of $415 to 425 million in Revenue and $110 to 115 million in Adjusted E
Slide 5: Revolutionizing the Trade Show Model
Revolutionizing the Trade Show Model Integrating technology and first party data to create a next-generation B2B platform Collection of leading B2B trade shows and conferences that bring together industry-specific communities Revenue is generated from the production of trade shows and conference eve
Slide 6: Enduring Value of Trade Shows
Enduring Value of Trade Shows (1) Source: Freeman, New Freeman Research Shows an Accelerated Return to In-Person Events. (2) Source: TSL, 2023 150+ Trade Show Stats That Reveal All. (3) Source: CEIR, Omnichannel Marketing Insights Report 1. (4) Source: Gartner, What Marketing Budgets Look Like in 20
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Action the holistic consolidated customer database 3-year brand operating plans across portfolio Value-based pricing structure Rigorous, perpetual brand reviews Improved customer retention Hi
Slide 8: Acquisitions and New Event Launches Driving Portfolio Optimization
Acquisitions and New Event Launches Driving Portfolio Optimization Strategic expansion into high growth industries and categories Select New Event Launches from Xcelerator New Event Launches Expected to Contribute 1-2 Percentage Points of Organic Revenue Growth per Year Educational platform that bri
Slide 9: Q1 Adj. EBITDA, Free Cash Flow, Net Income
9 Adj. EBITDA(1) Free Cash Flow(2) Net Income Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) Excludes insurance proceeds (1) See slide 13 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA excluding event cancellation insurance proc
Slide 10: Revenue and Adjusted EBITDA by Segment
10 ($ in Millions) Revenue and Adjusted EBITDA by Segment Quarterly Connections $4.4 $66.1 $30.5 $88.6 $60.8 $51.3 $81.9 $112.2 $75.6 $62.1 $90.3 $123.4 All Other $10.6 $10.4 $10.6 $9.9 $10.7 $11.0 $11.7 $10.1 $10.8 $10.5 $11.2 $10.0 Total $15.0 $76.5 $41.1 $98.5 $71.5 $62.3 $93.6 $122.3 $86.4 $72.6
Slide 11: 2024 Guidance Signals Continued Growth and Margin Expansion
11 2024 Guidance Signals Continued Growth and Margin Expansion Revenue ($ in Millions) Adjusted EBITDA ex-Insurance(1) ($ in Millions) $415 to $425 Guidance On average, revenue per event is progressing toward normalized levels Guidance implies ~27% Adj. EBITDA margins, with room for continued improv
Slide 12: Appendix
“ Appendix @ EMERALD
Slide 13: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA Other items for the three months ended March 31, 2024 included: (i) $0.3 million in acquisition-related transaction costs; (ii) $4.8 million in acquisition integration and restructuring-related transition costs, includi
Slide 14: Free Cash Flow Reconciliation
Free Cash Flow UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Three Months Ended March 31, 2024 2023 (dollars in millions) (unaudited) Net Cash Provided by Operating Activities $ 7.3 $ 8.9 Less: Capital expenditures 2.5 3.7 Free Cash Flow $ 4.8 $ 5.2 Event ca
Slide 15: Income Statement – Consolidated
Income Statement – Consolidated Emerald UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (dollars in millions) (unaudited) Consolidated Revenue $ 98.5 $ 71.5 $ 62.3 $ 93.6 $ 325.9 $ 122.3 $ 86.4 $ 72.6 $ 101.5 $ 382.8 $ 133.4
Slide 16: Income Statement – Connections Reportable Segment
Income Statement – Connections Reportable Segment UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CONNECTIONS REPORTABLE SEGMENT FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (dollars in millions) (unaudited) Consolidated Revenue $ 88.6 $ 60.8 $ 51.3 $ 81.9 $ 282.6 $
Slide 17: Income Statement – All Other Category
Income Statement – All Other Category UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – ALL OTHER CATEGORY FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (dollars in millions) (unaudited) Consolidated Revenue $ 9.9 $ 10.7 $ 11.0 $ 11.7 $ 43.3 $ 10.1 $ 10.8 $ 10.5 $ 11.2
Slide 18: Income Statement – Corporate-Level Activities
Income Statement – Corporate-Level Activities UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME – CORPORATE-LEVEL ACTIVITIES FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 (dollars in millions) (unaudited) Consolidated Other income, net $ -- $ -- $ 148.6 $ -- $ 148.6 $ --