Emerald Holding(US:EEX)2025-05-01 10:30Financial Performance - Revenues for Q1 2025 were $147.7 million, an increase of $14.3 million or 10.7% compared to Q1 2024, driven by organic revenue growth and acquisitions[8] - Organic Revenues for Q1 2025 were $139.2 million, reflecting a growth of $7.4 million or 5.6% from $131.8 million in Q1 2024[8] - Net income for Q1 2025 was $15.3 million, up from $11.0 million in Q1 2024, representing a 39.1% increase[11] - Adjusted EBITDA for Q1 2025 was $53.6 million, a 31.4% increase from $40.8 million in Q1 2024[11] - Revenues for the three months ended March 31, 2025, were $147.7 million, a 10.7% increase from $133.4 million in the same period of 2024[35] - Adjusted EBITDA for the same period was $53.6 million, up from $40.8 million year-over-year, reflecting a significant improvement in operational performance[40] - The Connections segment generated revenues of $138.3 million in Q1 2025, up from $123.4 million in Q1 2024, an increase of 12.9%[42] - Adjusted EBITDA for the Connections segment increased to $66.2 million in Q1 2025, up from $56.1 million in Q1 2024, a growth of 17.9%[42] - Income before income taxes improved to $20.7 million in Q1 2025, compared to $14.5 million in Q1 2024, indicating a 42.8% increase[42] Cash Flow and Liquidity - The company ended Q1 2025 with $276.8 million in cash and full availability of its $110.0 million revolving credit facility[8] - Free Cash Flow for Q1 2025 was $10.8 million, a significant increase of 125.0% compared to $4.8 million in Q1 2024[24] - Net cash provided by operating activities increased to $12.6 million in Q1 2025 from $7.3 million in Q1 2024, representing a 72.6% growth[41] - Free cash flow rose to $10.8 million in Q1 2025, up from $4.8 million in Q1 2024, marking a 125% increase[41] Dividends and Stock Repurchase - The Board of Directors declared a dividend of $0.015 per share for the quarter ending June 30, 2025[17] - Emerald repurchased $8.8 million of its common stock in Q1 2025 at an average price of $4.33 per share[8] - The company expects to continue paying regular quarterly dividends, subject to Board approval and various financial factors[32] Acquisitions and Regulatory Approvals - The acquisition of This is Beyond, a London-based organizer of B2B trade shows, received regulatory approval and is expected to close soon[8] Assets and Expenses - Total assets as of March 31, 2025, were $1,183.0 million, up from $1,048.7 million at the end of 2024, showing a growth of 12.8%[37] - The company’s cash and cash equivalents increased to $276.8 million from $194.8 million, representing a 42.1% rise[37] - Interest expense for Q1 2025 was $17.4 million, compared to $12.1 million in Q1 2024, reflecting increased borrowing costs[35] - Capital expenditures decreased to $1.8 million in Q1 2025 from $2.5 million in Q1 2024, a reduction of 28%[41] - General corporate expenses decreased to $13.3 million in Q1 2025 from $15.5 million in Q1 2024, a decline of 14.2%[42] - Interest expense, net increased to $15.1 million in Q1 2025 from $9.8 million in Q1 2024, a rise of 53.1%[42] Guidance and Projections - The company reaffirms its full-year 2025 guidance of $450 - 460 million in revenue and $120 - 125 million in Adjusted EBITDA[9] - The company is unable to provide reconciliations for projected Adjusted EBITDA to projected net income for 2025 due to uncertainties related to acquisitions and scheduling adjustments[29] Other Income - Other income, net for the Connections segment was $0 in Q1 2025, down from $1.0 million in Q1 2024[42]