Emerald Holding, Inc. (EEX) Market Cap
Emerald Holding, Inc. has a market capitalization of —.
No quote data available.
CEO: Herve Sedky
Sector: Communication Services
Industry: Advertising Agencies
IPO Date: 2017-04-28
Website: https://www.emeraldx.com
Emerald Holding, Inc. (EEX) - Company Information
Market Cap: -|Sector: Communication Services
Company Profile
Emerald Holding, Inc. specializes in orchestrating business-to-business (B2B) industry exhibitions across the United States. These events span a diverse array of sectors, including retail, architecture and construction, technology, industrial equipment, and protective solutions. Beyond live expos, the company also maintains digital content and marketing platforms, along with related online offerings, and publishes various print materials. Furthermore, Emerald operates the Elastic Suite platform, designed to simplify the wholesale purchasing journey for both brands and their retail clients, as well as the Flex platform. Founded in 2013 as Emerald Expositions Events, Inc., the firm maintains its headquarters in New York City.
Analyst Sentiment
From 2 Active Polls
1Y Forecast: $7.90
▲ +0.0% Potential Upside
Consensus Target Metrics
Low Bound
$8
Median
$8
High Bound
$8
Average
$8
Price & Moving Averages
🎯 Wall Street Analyst Intelligence Report
1-Year structural target targets, chart projections, and sentiment maps.
Consensus Trend Projection
Trailing closures vs. 12-month metrics map.
Analyst Vote Distribution
Aggregate institutional coverage sentiment weights.
Sentiment volume allocation data unavailable.
Historical valuation matrix unavailable.
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📊 AI Financial Analysis
Powered by StockMarketInfo"Q1 2026 revenue was $155.4M (+17.1% QoQ, +5.1% YoY) while net income rebounded to $7.2M (from -$30.2M in Q4 2025 and -$14.4M in Q3 2025; +82.4% YoY vs. $15.3M down to a smaller base—net income was higher than last year’s seasonally weak quarter). EPS was $0.04, up from -$0.15 in Q4 2025 and up from -$0.073 in Q3 2025, though below Q1 2025’s $0.076. Profitability improved materially: gross margin rose to 64.0% (vs. 55.0% in Q4 2025 and 56.1% in Q3 2025), and operating margin expanded to 12.5% (from 18.9% in Q4 2025 but turning positive vs. negative prior quarters). Net margin improved to 4.6% (vs. -22.8% in Q4 2025). Operating cash flow was $28.7M and free cash flow $28.5M, supporting a quarter of positive cash generation. Balance sheet resilience remains mixed: total assets were $1.24B and equity $338.4M, but retained earnings are deeply negative (-$673.6M). Shareholder returns appear constructive given strong momentum: the stock is up 32.8% over 1Y (and dividend yield is ~0.33%, with no dividends paid this quarter). Analyst consensus price target ($7.9) is well above the current price ($4.74), implying upside if execution sustains."
Revenue Growth
Revenue grew +17.1% QoQ (from $132.7M to $155.4M) and +5.1% YoY (vs. $147.7M). Growth improved vs the prior two quarters.
Profitability
Margins improved sharply vs Q4/Q3 2025: gross margin 64.0% vs 55.0% (Q4) and 56.1% (Q3); net margin turned positive to 4.6% (vs -22.8% in Q4). However, profitability is not yet back to Q1 2025 levels (net margin ~10.4%).
Cash Flow Quality
Q1 2026 generated strong operating cash flow of $28.7M and free cash flow of $28.5M, with no dividends paid. This supports earnings recovery, even though earlier quarters showed cash volatility.
Leverage & Balance Sheet
Total assets were stable at ~$1.24B, but retained earnings remain severely negative (-$673.6M). Equity is stable around $338M; net debt is favorable at -$110.8M (net cash).
Shareholder Returns
Total return momentum is strong: price is up 32.8% over 1Y. Dividend yield is low (~0.33%) and dividends were $0 in the quarter, so appreciation is the main driver.
Analyst Sentiment & Valuation
Consensus target is $7.9 vs current $4.74, indicating upside. Still, the trailing price/earnings and quarter-to-quarter earnings swings suggest valuation confidence depends on maintaining margin recovery.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Fundamentals Overview
EEX delivered strong FY 2025 growth, with total revenue up 16.2% to $463.4M and adjusted EBITDA up 25% to $127.1M, driven largely by newly acquired businesses (This is Beyond, Insurtech Insights, Generis) plus modest organic momentum (FY organic +1.1%; +4.8% pro-forma). Despite earnings improvement, reported free cash flow declined slightly to $34.3M, primarily due to acquisition timing (noted $30M OCF offset vs operating cash flow) and $6.5M of refinancing fees—together cited as a $36.6M drag versus underlying operations. Management guides 2026 revenue of $490M–$495M and adjusted EBITDA of $137.5M–$142.5M, implying ~6% revenue and ~10% EBITDA growth at the midpoint, with expected free cash flow of $85M–$90M (high EBITDA-to-FCF flow-through, subject to acquisition/integration spend). Operational upside centers on automation/AI agents and finance stack modernization for scalable margin expansion. Key near-term uncertainty is early-2026 integration costs and macro/tariff monitoring, while Middle East disruption appears immaterial (<1% revenue).
Growth Catalysts
- High rebooking activity and strong customer engagements supporting momentum entering 2026
- Operational efficiencies via automation, process optimization and scalable platforms aimed at margin expansion
- Expansion of Content monetization via launched lead generation business leveraging content (started sales in October 2025)
Business Development
- Acquisitions completed in 2025: This is Beyond, Insurtech Insights, Generis
- Ongoing M&A conversations / pipeline in high-growth sectors (no specific targets named)
Financial Highlights
- Q4 2025 revenue: $132.7M vs $106.8M prior year (+24.3% YoY reported); reported organic revenue +0.3% YoY; pro-forma organic revenue +5.3% YoY assuming 2024 includes newly acquired businesses
- FY 2025 revenue: $463.4M (+16.2% YoY); FY reported organic revenue +1.1% YoY; pro-forma organic revenue +4.8% YoY assuming acquisitions included in 2024
- Q4 2025 adjusted EBITDA: $36.3M vs $33.1M (+9.7% YoY)
- FY 2025 adjusted EBITDA: $127.1M vs $101.7M (+25% YoY)
- Expense pressure: SG&A FY $241.2M vs $170.4M, driven by contingent consideration remeasurement adjustments plus transaction/integration costs
- FCF: Q4 2025 $10.1M vs $18.4M; FY 2025 $34.3M vs $37.0M, impacted by acquisition timing (noted $30M of OCF generated if owned at start of year) and $6.5M refinancing fees; total FCF impact quantified at $36.6M for FY 2025
- Balance sheet: net debt to covenant EBITDA 2.86x (below sub-3.0x target)
- 2026 guidance: revenue $490M–$495M; adjusted EBITDA $137.5M–$142.5M (midpoint ~6% revenue growth and ~10% adjusted EBITDA growth YoY)
Capital Funding
- Q4 2025 share repurchases: 282,386 shares at avg $4.56
- FY 2025 share repurchases: 4,058,604 shares at avg $4.32
- Remaining authorization at Dec 31, 2025: $24.6M
- Quarterly dividend declared: $0.015 per share
- Cash at Dec 31, 2025: $100.9M (vs $95.4M Sep 30, 2025); total liquidity $210.4M including $110M available on revolver
- Debt refinancing fees: $6.5M (Jan and Aug 2025) cited as flowing through financials and impacting FY free cash flow
Strategy & Ops
- Portfolio reshaping: exit of underperforming brands post-COVID and increased exposure to higher-growth end markets
- Automation initiative: AI agents implemented across several events to improve exhibitor experience; expected to scale across more events
- AI scalability effects: expected reduction in calls into sales/customer success; modernization of finance stack in 2026 with automation to drive incremental flow-through
- Las Vegas Convention Center disruption: construction completed end of 2025; company expects to cycle past impacts in 2026; next event scheduled Monday/Tuesday next week
Market Outlook
- 2026 revenue guidance: $490M–$495M
- 2026 adjusted EBITDA guidance: $137.5M–$142.5M; midpoint implies ~10% YoY adjusted EBITDA growth
- Revenue contract level: >70% of the year's revenue already contracted; more to sell in back half for 1H vs 2H split
- Middle East exposure: less than 1% of revenue from exhibitors from Middle East/contiguous regions; no meaningful impact to travel/exhibitor willingness observed
Risks & Headwinds
- FCF volatility: acquisition timing and financing fees materially reduced reported free cash flow in 2025 (quantified $36.6M impact); potential for higher acquisition/integration expense in early 2026
- Las Vegas Convention Center construction impacted some brands in 2025; risk of carryover effects until cycling through in 2026
- SG&A elevated due to contingent consideration remeasurement adjustments and integration/transaction costs
- Tariff uncertainty: company monitors and incorporated potential impacts into 2026 planning (no numeric tariff basis stated)
Sentiment: MIXED
Note: This summary was synthesized by AI from the EEX Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.