Emerald Reports First Quarter 2023 Financial Results
Organic Revenue Growth of
Repurchased 5.1 Million Shares in First Quarter
Financial Highlights
-
Revenues of
$122.3 million $23.8 million 24.2% , primarily on growth in events that staged in both Q1 2023 and Q1 2022-
Organic Revenues, a non-GAAP measure, which takes into account the impact of acquisitions and scheduling adjustments, of
$122.1 million $17.7 million 17.0% , from$104.4 million
-
Organic Revenues, a non-GAAP measure, which takes into account the impact of acquisitions and scheduling adjustments, of
-
Net income of
$7.1 million $16.1 million -
Adjusted EBITDA, a non-GAAP measure, of
$36.5 million $49.3 million $36.5 million $25.6 million -
Bought back 5.1 million shares, or
7.5% of common stock outstanding, at an average price of$3.34 -
Ended the quarter with
$217.3 million $110.0 million -
For the full year 2023, the Company continues to expect to generate in excess of
$400 million $100 million
Operational Highlights
- Post-COVID recovery cycle driving continued growth in exhibitor and attendee counts
- Successfully staged 35 in-person trade shows, conferences and other events in the first quarter as the Company builds back from the COVID-19 pandemic and customers eagerly returned to in-person events
-
Acquired Lodestone Events, producer of the successful Overland Expo series of vehicle-based, adventure travel consumer shows, in January 2023 for initial cash consideration of
$9.5 million
Hervé Sedky, Emerald’s President and Chief Executive Officer, said, “Emerald is off to an excellent start in 2023, with strong demand from exhibitors and attendees, contributing to the ongoing rebound in live events. The business continues to benefit from strong post-COVID-19 tailwinds across our business that we expect to persist well beyond 2023. In addition, the work we’ve done to grow the business through strategic acquisitions, operational efficiencies, and product enhancements have made us both a larger and more dynamic organization. Notably, we have an exciting pipeline of new event launches that leverage our scale and expertise in must attend live events and further our strategy of targeting new audiences in high-growth industries. Moving forward, we expect that our customers and shareholders alike will benefit from the new and improved Emerald as we continue to deliver premium marketing value to customers and attractive cash flow growth to investors.”
David Doft, Emerald’s Chief Financial Officer, added, “As we cycle past the prior-year COVID-19 impacts, we believe that our results are beginning to reflect the true embedded growth potential of the Emerald platform. This quarter, we delivered
First Quarter 2023 Financial Performance and Highlights
|
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Three Months Ended
|
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|||||||||||||
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2023 |
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2022 |
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Change |
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% Change |
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||||
|
|
(unaudited, dollars in millions, except percentages and per share data) |
|
|||||||||||||
Revenues |
|
$ |
122.3 |
|
|
$ |
98.5 |
|
|
$ |
23.8 |
|
|
|
24.2 |
% |
Net income |
|
$ |
7.1 |
|
|
$ |
16.1 |
|
|
$ |
(9.0 |
) |
|
|
(55.9 |
%) |
Net cash provided by operating activities |
|
$ |
8.9 |
|
|
$ |
33.0 |
|
|
$ |
(24.1 |
) |
|
|
(73.0 |
%) |
Diluted (loss) income per share |
|
$ |
(0.04 |
) |
|
$ |
0.04 |
|
|
$ |
(0.08 |
) |
|
NM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-GAAP measures: |
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|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted EBITDA |
|
$ |
36.5 |
|
|
$ |
49.3 |
|
|
$ |
(12.8 |
) |
|
|
(26.0 |
%) |
Adjusted EBITDA excluding event cancellation insurance proceeds |
|
$ |
36.5 |
|
|
$ |
25.6 |
|
|
$ |
10.9 |
|
|
|
42.6 |
% |
Free Cash Flow |
|
$ |
5.2 |
|
|
$ |
29.8 |
|
|
$ |
(24.6 |
) |
|
|
(82.6 |
%) |
Free Cash Flow excluding event cancellation insurance proceeds, net |
|
$ |
5.2 |
|
|
$ |
6.1 |
|
|
$ |
(0.9 |
) |
|
|
(14.8 |
%) |
-
First quarter 2023 revenues were
$122.3 million $23.8 million 24.2% versus the first quarter 2022, driven by revenue growth in events that staged in both periods as well a revenue from three events that staged in the first quarter of 2023 but staged later in the prior year.
-
First quarter 2023 Organic Revenues were
$122.1 million $17.7 million 17.0% versus the first quarter 2022, due primarily to a$17.4 million $1.2 million $0.3 million
-
First quarter 2023 net income was
$7.1 million $16.1 million
-
First quarter 2023 Adjusted EBITDA was
$36.5 million $49.3 million $36.5 million $25.6 million
For a discussion of the Company’s presentation of Organic revenues and Adjusted EBITDA, which are non-GAAP measures, see below under the heading “Non-GAAP Financial Information.” Refer to Schedule 1 for a reconciliation of Organic revenues to revenues (discussed in the first paragraph of this section), the most directly comparable GAAP measure, and refer to Schedule 3 for a reconciliation of Adjusted EBITDA to net income (discussed in the second paragraph of this section), the most directly comparable GAAP measure.
Cash Flow
-
First quarter 2023 net cash provided by operating activities was
$8.9 million $33.0 million
-
First quarter 2023 capital expenditures were
$3.7 million $3.2 million
-
First quarter 2023 Free Cash Flow excluding event cancellation insurance proceeds, net, which the Company defines as net cash provided by operating activities less capital expenditures, event cancellation insurance proceeds and taxes paid on event cancellation insurance proceeds, was
$5.2 million $6.1 million $0.7 million $1.7 million $1.8 million $0.8 million $0.1 million $0.4 million $4.2 million $1.3 million
-
During the first quarter 2023, the Company made common stock repurchases of
$16.9 million $9.5 million $217.3 million $239.1 million
For a review of the Company’s presentation of Free Cash Flow, which is a non-GAAP measure, see below under the heading “Non-GAAP Financial Information.” Refer to Schedule 4 for a reconciliation of Free Cash Flow to net cash provided by operating activities (discussed in the first paragraph of this section), the most directly comparable GAAP measure.
Emerald Share Repurchase Program
The Company bought back 5.1 million shares of common stock, or
Conference Call Webcast Details
As previously announced, the Company’s leadership will hold a conference call to discuss its first quarter 2023 results at 8:30 am EDT on Wednesday, May 3, 2023.
The conference call can be accessed by dialing 1-888-886-7786 (domestic) or 1-416-764-8658 (international). A telephonic replay will be available approximately two hours after the call by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 31699661. The replay will be available until 11:59 pm (Eastern Time) on May 10, 2023.
Interested investors and other parties can access the webcast of the live conference call by visiting the Investors section of Emerald’s website at http://investor.emeraldx.com. An online replay will be available on the same website immediately following the call.
About Emerald
Emerald’s talented and experienced team grows our customers’ businesses 365 days a year through connections, content, and commerce. We expand connections that drive new business opportunities, product discovery, and relationships with over 140 annual events, matchmaking, and lead-gen services. We create content to ensure that our customers are on the cutting edge of their industries and are continually developing their skills. And we power commerce through efficient year-round buying and selling. We do all this by seamlessly integrating in-person and digital platforms and channels. Emerald is immersed in the industries we serve and committed to supporting the communities in which we operate. As true partners, we create experiences that inspire, amaze, and deliver breakthrough results. For more: http://www.emeraldx.com/.
Non-GAAP Financial Information
This press release presents certain “non-GAAP” financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in
Organic Revenue
We define “Organic revenue growth” and “Organic revenue decline” as the growth or decline, respectively, in our revenue from one period to the next, adjusted for the revenue impact of: (i) acquisitions and dispositions, (ii) discontinued events and (iii) material show scheduling adjustments. We disclose changes in Organic revenue because we believe it assists investors and analysts in comparing Emerald’s operating performance across reporting periods on a consistent basis by excluding items that we do not believe provide a fair comparison of the trends underlying our existing event portfolio given changes in timing or strategy. Management and Emerald’s board of directors evaluate changes in Organic revenue to evaluate our historical and prospective financial performance and understand underlying revenue trends of our events.
Adjusted EBITDA
We use Adjusted EBITDA because we believe it assists investors and analysts in comparing Emerald’s operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management and Emerald’s board of directors use Adjusted EBITDA to assess our financial performance and believe it is helpful in highlighting trends because it excludes the results of decisions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate, and capital investments. Adjusted EBITDA should not be considered as an alternative to net income as a measure of financial performance or to cash flows from operations as a liquidity measure.
We define Adjusted EBITDA as net income before (i) interest expense, (ii) income tax benefit, (iii) depreciation and amortization, (iv) stock-based compensation, (v) deferred revenue adjustment, (vi) goodwill and other intangible asset impairment charges, and (vii) other items that management believes are not part of our core operations.
We have also presented Adjusted EBITDA excluding event cancellation insurance proceeds in order to illustrate the amount of Adjusted EBITDA from continuing operations.
Note: Schedule 3 provides reconciliations for 2023 and 2022 Adjusted EBITDA to net income, however, it is not possible, without unreasonable efforts, to estimate the impacts of show scheduling adjustments, acquisitions and the amount and timing of receipt of event cancellation insurance proceeds and certain other special items that may occur in 2023 as these items are inherently uncertain and difficult to predict. As a result, the Company is unable to quantify certain amounts that would be included in a reconciliation of 2023 projected Adjusted EBITDA to projected net income without unreasonable efforts and has not provided reconciliations for these forward-looking non-GAAP financial measures.
Free Cash Flow
We present Free Cash Flow because we believe it is a useful indicator of liquidity that provides information to management and investors about the amount of cash generated from our core operations that, after capital expenditures, can be used to maintain and grow our business, for the repayment of indebtedness, payment of dividends and to fund strategic opportunities. Free Cash Flow is a supplemental non-GAAP measure of liquidity and is not based on any standardized methodology prescribed by GAAP. Free Cash Flow should not be considered in isolation or as an alternative to cash flows from operating activities or other measures determined in accordance with GAAP.
We have also presented Free Cash Flow excluding event cancellation insurance proceeds, net in order to illustrate the amount of Free Cash Flow from continuing operations.
Other companies may compute these measures differently. No non-GAAP metric should be considered as an alternative to any other measure derived in accordance with GAAP.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains and our earnings call will contain certain forward-looking statements, including, but not limited to, our ability to return our business to pre-COVID levels; our guidance with respect to estimated revenues and Adjusted EBITDA; our ability or inability to obtain insurance coverage relating to event cancellations or interruptions; and our ability to successfully identify and acquire acquisition targets; our expectations arising from the ongoing impact of COVID-19 on our business; and how we integrate and grow acquired businesses. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of the Company’s control that may cause its business, industry, strategy, financing activities or actual results to differ materially. See “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.
Emerald Holding, Inc. Condensed Consolidated Statements of Income and Comprehensive Income (unaudited, dollars in millions, share data in thousands, except loss per share data) |
|||||||||
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|
Three Months Ended
|
|
|
Three Months Ended
|
|
|
||
Revenues |
|
$ |
122.3 |
|
|
$ |
98.5 |
|
|
Other income, net |
|
|
— |
|
|
|
23.7 |
|
|
Cost of revenues |
|
|
43.2 |
|
|
|
34.2 |
|
|
Selling, general and administrative expense |
|
|
48.8 |
|
|
|
46.6 |
|
|
Depreciation and amortization expense |
|
|
13.5 |
|
|
|
14.3 |
|
|
Goodwill impairment charge |
|
|
— |
|
|
|
6.3 |
|
|
Intangible asset impairment charge |
|
|
— |
|
|
|
1.6 |
|
|
Operating income |
|
|
16.8 |
|
|
|
19.2 |
|
|
Interest expense |
|
|
8.0 |
|
|
|
3.9 |
|
|
Interest income |
|
|
1.1 |
|
|
|
— |
|
|
Other expense |
|
|
0.1 |
|
|
|
— |
|
|
Income before income taxes |
|
|
9.8 |
|
|
|
15.3 |
|
|
Provision for (benefit from) income taxes |
|
|
2.7 |
|
|
|
(0.8 |
) |
|
Net income and comprehensive income attributable to Emerald Holding, Inc. |
|
$ |
7.1 |
|
|
$ |
16.1 |
|
|
Accretion to redemption value of redeemable convertible preferred stock |
|
|
(10.1 |
) |
|
|
(9.2 |
) |
|
Participation rights on if-converted basis |
|
|
— |
|
|
|
(4.4 |
) |
|
Net (loss) income and comprehensive (loss) income attributable to Emerald Holding, Inc. common stockholders |
|
$ |
(3.0 |
) |
|
$ |
2.5 |
|
|
Basic (loss) income per share |
|
|
(0.04 |
) |
|
|
0.04 |
|
|
Diluted (loss) income per share |
|
|
(0.04 |
) |
|
|
0.04 |
|
|
Basic weighted average common shares outstanding |
|
|
67,280 |
|
|
|
70,171 |
|
|
Diluted weighted average common shares outstanding |
|
|
67,280 |
|
|
|
70,280 |
|
|
|
|
|
|
|
|
|
|
||
Emerald Holding, Inc. Condensed Consolidated Balance Sheets (dollars in millions, share data in thousands, except par value) |
||||||||
|
|
March 31,
|
|
|
Year Ended
|
|
||
|
|
(unaudited) |
|
|||||
Assets |
|
|
|
|
|
|
||
Current assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
217.3 |
|
|
$ |
239.1 |
|
Trade and other receivables, net of allowance of |
|
|
104.8 |
|
|
|
74.9 |
|
Prepaid expenses and other current assets |
|
|
10.8 |
|
|
|
17.8 |
|
Total current assets |
|
|
332.9 |
|
|
|
331.8 |
|
Noncurrent assets |
|
|
|
|
|
|
||
Property and equipment, net |
|
|
2.0 |
|
|
|
2.2 |
|
Intangible assets, net |
|
|
198.3 |
|
|
|
204.8 |
|
Goodwill, net |
|
|
553.9 |
|
|
|
545.5 |
|
Right-of-use assets |
|
|
10.0 |
|
|
|
10.6 |
|
Other noncurrent assets |
|
|
3.4 |
|
|
|
3.5 |
|
Total assets |
|
$ |
1,100.5 |
|
|
$ |
1,098.4 |
|
Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Deficit |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Accounts payable and other current liabilities |
|
$ |
54.7 |
|
|
$ |
58.1 |
|
Income taxes payable |
|
|
2.3 |
|
|
|
1.2 |
|
Canceled event liabilities |
|
|
2.9 |
|
|
|
3.3 |
|
Deferred revenues |
|
|
161.8 |
|
|
|
151.2 |
|
Contingent consideration |
|
|
3.7 |
|
|
|
3.5 |
|
Right-of-use liabilities, current portion |
|
|
4.8 |
|
|
|
4.9 |
|
Total current liabilities |
|
|
230.2 |
|
|
|
222.2 |
|
Noncurrent liabilities |
|
|
|
|
|
|
||
Term loan, net of discount and deferred financing fees |
|
|
414.2 |
|
|
|
413.9 |
|
Deferred tax liabilities, net |
|
|
2.8 |
|
|
|
1.8 |
|
Right-of-use liabilities, noncurrent portion |
|
|
9.4 |
|
|
|
10.4 |
|
Other noncurrent liabilities |
|
|
12.3 |
|
|
|
10.8 |
|
Total liabilities |
|
|
668.9 |
|
|
|
659.1 |
|
Commitments and contingencies |
|
|
|
|
|
|
||
Redeemable convertible preferred stock |
|
|
|
|
|
|
||
|
|
|
482.5 |
|
|
472.4 |
|
|
Stockholders’ deficit |
|
|
|
|
|
|
||
Common stock, |
|
|
0.6 |
|
|
|
0.7 |
|
Additional paid-in capital |
|
|
585.5 |
|
|
|
610.3 |
|
Accumulated deficit |
|
|
(637.0 |
) |
|
|
(644.1 |
) |
Total stockholders’ deficit |
|
|
(50.9 |
) |
|
|
(33.1 |
) |
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit |
|
$ |
1,100.5 |
|
|
$ |
1,098.4 |
|
Schedule 1 Emerald Holding, Inc. UNAUDITED RECONCILIATION OF REVENUES TO ORGANIC REVENUES |
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|
|
Three Months Ended
|
|
|
Change |
|
|
||||||||||
|
|
2023 |
|
|
2022 |
|
|
$ |
|
|
% |
|
|
||||
|
|
(dollars in millions) |
|
|
|||||||||||||
(unaudited) |
|||||||||||||||||
Revenues |
|
$ |
122.3 |
|
|
$ |
98.5 |
|
|
$ |
23.8 |
|
|
|
24.2 |
% |
|
Add (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition revenues |
|
|
(0.2 |
) |
|
|
— |
|
|
|
|
|
|
|
|
||
Scheduling adjustments(1) |
|
|
|
|
|
5.9 |
|
|
|
|
|
|
|
|
|||
Organic revenues |
|
$ |
122.1 |
|
|
$ |
104.4 |
|
|
$ |
17.7 |
|
|
|
17.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Notes: |
|
|
|
(1) |
For the three months ended March 31, 2023, represents revenues from three events that staged in the first quarter of fiscal year 2023, but staged later in fiscal year 2022, offset by revenues from one event that staged in the first quarter of fiscal year 2022, but is scheduled to stage later in fiscal 2023. |
||
Schedule 2 Emerald Holding, Inc. UNAUDITED RECONCILIATION OF REVENUES TO DISAGGREGATED REVENUES |
|||||||||
|
|
Three Months Ended
|
|
|
|||||
|
|
2023 |
|
|
2022 |
|
|
||
|
|
(dollars in millions) |
|
|
|||||
(unaudited) |
|||||||||
Trade shows |
|
$ |
97.1 |
|
|
$ |
78.6 |
|
|
Other events |
|
|
14.2 |
|
|
|
9.1 |
|
|
Subscription software and services |
|
|
5.2 |
|
|
|
4.2 |
|
|
Other marketing services |
|
|
5.8 |
|
|
|
6.6 |
|
|
Total Revenues |
|
$ |
122.3 |
|
|
$ |
98.5 |
|
|
Schedule 3 Emerald Holding, Inc. UNAUDITED RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA |
|||||||||
|
|
Three Months Ended
|
|
|
|||||
|
|
2023 |
|
|
2022 |
|
|
||
|
|
(dollars in millions) |
|
|
|||||
(unaudited) |
|||||||||
Net income |
|
$ |
7.1 |
|
|
$ |
16.1 |
|
|
Add (deduct): |
|
|
|
|
|
|
|
||
Interest expense, net |
|
|
6.9 |
|
|
|
3.9 |
|
|
Provision for (benefit from) income taxes |
|
|
2.7 |
|
|
|
(0.8 |
) |
|
Goodwill impairment charge(1) |
|
|
— |
|
|
|
6.3 |
|
|
Intangible asset impairment charge(2) |
|
|
— |
|
|
|
1.6 |
|
|
Depreciation and amortization |
|
|
13.5 |
|
|
|
14.3 |
|
|
Stock-based compensation |
|
|
2.1 |
|
|
|
2.1 |
|
|
Deferred revenue adjustment |
|
|
— |
|
|
|
0.2 |
|
|
Other items(3) |
|
|
4.2 |
|
|
|
5.6 |
|
|
Adjusted EBITDA |
|
$ |
36.5 |
|
|
$ |
49.3 |
|
|
Deduct: |
|
|
|
|
|
|
|
||
Event cancellation insurance proceeds |
|
|
— |
|
|
|
23.7 |
|
|
Adjusted EBITDA excluding event cancellation insurance proceeds |
|
$ |
36.5 |
|
|
$ |
25.6 |
|
|
Notes: |
|
|
|
(1) |
For the three months ended March 31, 2022, represents non-cash charges of |
||
(2) |
Intangible asset impairment charges for the three months ended March 31, 2022 represent non-cash charges of |
||
(3) |
Other items for the three months ended March 31, 2023 included: (i) |
||
Schedule 4 Emerald Holding, Inc. UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW |
|||||||||
|
|
Three Months Ended
|
|
|
|||||
|
|
2023 |
|
|
2022 |
|
|
||
|
|
(dollars in millions) |
|
|
|||||
(unaudited) |
|||||||||
Net Cash Provided by Operating Activities |
|
$ |
8.9 |
|
|
$ |
33.0 |
|
|
Less: |
|
|
|
|
|
|
|
||
Capital expenditures |
|
|
3.7 |
|
|
|
3.2 |
|
|
Free Cash Flow |
|
$ |
5.2 |
|
|
$ |
29.8 |
|
|
Event cancellation insurance proceeds |
|
|
— |
|
|
|
(23.7 |
) |
|
Free cash flow excluding event cancellation insurance proceeds net |
|
$ |
5.2 |
|
|
$ |
6.1 |
|
|
Schedule 5 Emerald Holding, Inc. UNAUDITED RECONCILIATION OF REPORTABLE SEGMENTS RESULTS TO INCOME BEFORE TAXES |
|||||||||
|
|
Three Months Ended
|
|
|
|||||
|
|
2023 |
|
|
2022 |
|
|
||
|
|
(dollars in millions) |
|
|
|||||
(unaudited) |
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Revenues |
|
|
|
|
|
|
|
||
Commerce |
|
$ |
70.0 |
|
|
$ |
56.7 |
|
|
Design, Creative, and Technology |
|
|
46.7 |
|
|
|
37.5 |
|
|
All Other |
|
|
5.6 |
|
|
|
4.3 |
|
|
Total revenues |
|
$ |
122.3 |
|
|
$ |
98.5 |
|
|
|
|
|
|
|
|
|
|
||
Other income, net |
|
|
|
|
|
|
|
||
Commerce |
|
$ |
— |
|
|
$ |
1.1 |
|
|
Design, Creative, and Technology |
|
|
— |
|
|
|
21.9 |
|
|
All Other |
|
|
— |
|
|
|
0.7 |
|
|
Total other income, net |
|
$ |
— |
|
|
$ |
23.7 |
|
|
|
|
|
|
|
|
|
|
||
Adjusted EBITDA |
|
|
|
|
|
|
|
||
Commerce |
|
$ |
39.4 |
|
|
$ |
31.8 |
|
|
Design, Creative, and Technology |
|
|
13.1 |
|
|
|
32.6 |
|
|
All Other |
|
|
(0.9 |
) |
|
|
(2.3 |
) |
|
Subtotal Adjusted EBITDA |
|
$ |
51.6 |
|
|
$ |
62.1 |
|
|
|
|
|
|
|
|
|
|
||
General corporate and other expenses |
|
|
(15.1 |
) |
|
|
(12.8 |
) |
|
Interest expense, net |
|
|
(6.9 |
) |
|
|
(3.9 |
) |
|
Goodwill impairment charges |
|
|
— |
|
|
|
(6.3 |
) |
|
Intangible asset impairment charges |
|
|
— |
|
|
|
(1.6 |
) |
|
Depreciation and amortization expense |
|
|
(13.5 |
) |
|
|
(14.3 |
) |
|
Stock-based compensation expense |
|
|
(2.1 |
) |
|
|
(2.1 |
) |
|
Deferred revenue adjustment |
|
|
— |
|
|
|
(0.2 |
) |
|
Other items |
|
|
(4.2 |
) |
|
|
(5.6 |
) |
|
Income before taxes |
|
$ |
9.8 |
|
|
$ |
15.3 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20230503005168/en/
Emerald Holding, Inc.
Investor Relations
investor.relations@emeraldx.com
1-866-339-4688 (866EEXINVT)
Source: Emerald Holding, Inc.
