Emerald Holding Reports Strong Financial Growth

By Tamara Parker • Friday, March 14 15:17 • Permanent Link

Emerald Holding, Inc. has reported its financial results for the fourth quarter and fiscal year ending December 31, 2024, showing a positive increase in various key metrics. Here are the specific facts and figures from the press release:

Revenues for 2024 were $398.8 million, a 4.2% increase over 2023, driven by organic revenue growth and revenues from acquisitions, offset by discontinued events.
Organic revenues for 2024 were $385.3 million, a 5.9% increase over 2023.
Net income for 2024 was $2.2 million, compared to a net loss of $8.2 million in 2023.
Adjusted EBITDA for 2024 was $101.7 million, compared to $97.8 million in 2023, representing a 4.0% increase. Excluding event cancellation insurance, adjusted EBITDA for 2024 increased by 5.5% to $100.2 million.
The company ended the year with $194.8 million in cash and full availability of its $110.0 million revolving credit facility.

Operational and capital structure updates: Emerald acquired This is Beyond, a London-based luxury travel event business, and completed the acquisition of Insurtech Insights for approximately $160 million. The company repurchased $8.4 million of its common stock in the fourth quarter and declared a dividend of $0.015 per share for the quarter ending March 31, 2025. * Emerald completed the refinancing and upsizing to $515 million of its first lien term loan and extended the maturity date of its revolving credit facility.

Hervé Sedky, Emerald’s President and CEO, stated that 2024 was a transformative year for the company, driven by strategic acquisitions and portfolio optimization.

David Doft, Emerald’s CFO, highlighted the company's full-year revenue and adjusted EBITDA results, aligning closely with expectations. He emphasized the strategic moves and disciplined acquisitions positioning the company for a solid year ahead.

In the fourth quarter of 2024, revenues increased by $5.3 million or 5.2% compared to the fourth quarter of 2023. Organic revenues from the Connections reportable segment and the All Other category also showed positive increases.

The acquisition of This is Beyond and Insurtech Insights is expected to further diversify and strengthen Emerald’s portfolio. The company’s share repurchase program and debt refinancing activities also demonstrate strategic financial management.

Following these announcements, the company's shares moved 9.7%, and are now trading at a price of $4.0. If you want to know more, read the company's complete 8-K report here.

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