Emerald Holding(EEX)
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Emerald Holding(EEX) - 2020 Q3 - Quarterly Report
2020-11-03 21:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share EEX New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission Fil ...
Emerald Holding(EEX) - 2020 Q3 - Earnings Call Transcript
2020-11-03 03:36
Emerald Holding, Inc. (NYSE:EEX) Q3 2020 Earnings Conference Call November 2, 2020 5:00 PM ET Company Participants David Doft - CFO Brian Field - Interim President and CEO Conference Call Participants Seth Weber - RBC Capital Markets Operator Good afternoon, ladies and gentlemen, and welcome to the Emerald Holding Third Quarter 2020 Earnings Conference Call. During today's call, all parties will be in a listen-only mode. Following the prepared remarks, the conference will be opened for questions with instru ...
Emerald Holding(EEX) - 2020 Q2 - Quarterly Report
2020-08-05 10:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share EEX New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Num ...
Emerald Holding(EEX) - 2020 Q2 - Earnings Call Transcript
2020-08-04 02:40
Emerald Holding, Inc. (NYSE:EEX) Q2 2020 Earnings Conference Call August 3, 2020 5:00 PM ET Company Participants David Doft - CFO & Principal Accounting Officer Brian Field - Interim President & CEO Conference Call Participants Jeff Meuler - Baird Ryan Leonard - Barclays Bank Seth Weber - RBC Capital Markets Operator Good afternoon, ladies and gentlemen, and welcome to the Emerald Holding Second Quarter 2020 Earnings Conference Call. During today's call, all parties will be in a listen-only mode. Following ...
Emerald Holding(EEX) - 2020 Q1 - Quarterly Report
2020-05-08 10:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share EEX New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Nu ...
Emerald Holding(EEX) - 2020 Q1 - Earnings Call Transcript
2020-05-05 02:48
Financial Data and Key Metrics Changes - Revenues decreased by $37.7 million or 27.4% compared to Q1 2019, primarily due to a $34.3 million reduction from the cancellation of seven events due to COVID-19 [27] - Adjusted EBITDA for Q1 was $23.6 million compared to $57.5 million in the same period last year, reflecting a decrease of $33.9 million [28] - Free cash flow for Q1 was $7.7 million compared to $11.3 million in the previous year [29] - A non-cash goodwill impairment charge of $554 million and a non-cash charge of $59.4 million related to intangible assets were recorded in Q1 due to the impact of COVID-19 [29] Business Line Data and Key Metrics Changes - Organic revenues for Q1 declined by $2.6 million or 2.6% compared to the prior year [28] - The G3 Communications acquisition contributed $3.9 million of revenues in Q1 2020 [27] Market Data and Key Metrics Changes - 14 events have been postponed to the second half of 2020, equating to approximately $12 million of 2019 revenue [10] - 29 events were canceled, accounting for approximately $118 million of 2019 revenue [10] Company Strategy and Development Direction - The company is focusing on ensuring employee and customer safety during the COVID-19 pandemic while maintaining liquidity and resources [6] - There is an emphasis on digital product offerings to provide value through education and networking, which has already resulted in a 15% increase in new customers [23] - The company is committed to maintaining its event cancellation insurance, which covers up to $191 million for 2020 and 2021, including losses from communicable diseases [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term viability of the tradeshow business, noting that exhibitors expect to return to pre-COVID spending levels once the health situation improves [12] - The company is optimistic about the support from customer communities and believes demand for marketplaces remains intact [10] - Management acknowledged the uncertainty in the economic environment but emphasized the importance of their insurance coverage and liquidity position [36] Other Important Information - The company has avoided over $30 million of direct costs for canceled events and is actively managing its expense structure to optimize costs [31] - A significant decline in deferred revenue has occurred due to event cancellations, with a pending refund liability of $72 million on the balance sheet [33] Q&A Session Summary Question: Will Emerald still put on shows if participation levels are significantly lower? - Management indicated that decisions will depend on customer interest and the viability of the event, emphasizing the importance of managing customer expectations and experiences [38][39] Question: What are the implications for insurance coverage in the future? - Management noted uncertainty regarding the availability and cost of insurance coverage for 2022 and beyond, acknowledging that it may cost more but is currently locked in for 2021 [41][42] Question: Can you provide a near-term liquidity update? - Management confirmed that the net revolver balance was essentially zero at the end of March and that insurance proceeds are expected to offset refunds [44] Question: What is the current cash burn rate? - Management stated that direct costs for shows are being minimized, and SG&A has been reduced by 25%-30% in Q2 [48] Question: Is there a pandemic exclusion in the insurance policy? - Management clarified that they paid extra for a rider that specifically covers pandemics [50] Question: How is the expense base structured? - Management explained that direct costs are approximately 30% fixed and 70% variable, while over half of SG&A is fixed [52][53] Question: How does the insurance policy cover lost revenue? - Management confirmed that the insurance policy is designed to cover gross profit associated with lost revenue, with a total coverage of $191 million [60][61]
Emerald Holding(EEX) - 2019 Q4 - Earnings Call Transcript
2020-02-14 17:51
Emerald Holding, Inc. (NYSE:EEX) Q4 2019 Earnings Conference Call February 13, 2020 11:00 AM ET Company Participants David Doft - CFO & Principal Accounting Officer Brian Field - Interim President, CEO Conference Call Participants David Chu - Bank of America Merrill Lynch Seth Weber - RBC Capital Markets Ryan Leonard - Barclays Bank Ashish Sabadra - Deutsche Bank Jeffrey Meuler - Robert W. Baird & Co. Operator Good morning, ladies and gentlemen, and welcome to the Emerald Fourth Quarter and Full Year 2019 E ...
Emerald Holding(EEX) - 2019 Q3 - Earnings Call Transcript
2019-11-10 13:50
Emerald Expositions Events, Inc. (NYSE:EEX) Q3 2019 Earnings Conference Call November 5, 2019 11:00 AM ET Company Participants Philip Evans - CFO & Treasurer Sally Shankland - CEO, President & Director Brian Field - COO Conference Call Participants Jeffrey Meuler - Robert W. Baird & Co. Ryan Leonard - Barclays Bank David Chu - Bank of America Merrill Lynch Kevin McVeigh - Crédit Suisse Ashish Sabadra - Deutsche Bank Gunnar Hansen - RBC Capital Markets Operator Good morning, ladies and gentlemen, and welcome ...
Emerald Holding(EEX) - 2019 Q3 - Quarterly Report
2019-11-05 11:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share EEX New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission Fil ...
Emerald Holding(EEX) - 2019 Q2 - Earnings Call Transcript
2019-08-04 18:27
Emerald Expositions Events, Inc. (NYSE:EEX) Q2 2019 Earnings Conference Call August 1, 2019 11:00 AM ET Company Participants Philip Evans - CFO Sally Shankland - President & CEO Conference Call Participants Ashish Sabadra - Deutsche Bank Ryan Leonard - Barclays Seth Weber - RBC Capital Markets Operator Good morning, ladies and gentlemen, and welcome to Emerald Expositions' Second Quarter 2019 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like ...