Emerald Expositions Events, Inc. (EEX) Tops Q4 EPS by 7c, Slight Miss on Revenues; Offers FY18 EPS Guidance Above Consensus

Emerald Expositions Events, Inc. (NYSE: EEX) reported Q4 EPS of $0.01, $0.07 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $31.5 million versus the consensus estimate of $31.57 million.

Fourth Quarter 2017 Highlights

Revenues increased 3.6% to $31.5 million, compared to $30.4 million for fourth quarter 2016
Net income increased to $40.3 million, compared to a net loss of $24.2 million for fourth quarter 2016

2017 fourth quarter net income included the benefit of a $52.1 million tax credit related to the re-measurement of the Company’s net deferred tax liability at the lower federal corporate tax rate effective January 1, 2018

• Net cash provided by operating activities increased 159.4% to $41.5 million, compared to $16.0 million for fourth quarter 2016
• Adjusted EBITDA, a non-GAAP measure, increased to $1.0 million, compared to a loss of $0.2 million for fourth quarter 2016
• Adjusted Net Income, a non-GAAP measure, increased to $0.7 million, compared to a loss of $6.1 million for fourth quarter 2016
• Free Cash Flow, a non-GAAP measure, increased 164.9% to $39.2 million, compared to $14.8 million for fourth quarter 2016

Outlook (forward-looking statements) and Key Assumptions

For the year ending December 31, 2018, Emerald management expects:

• Total revenue growth of 7.4% to 9.7%, or revenue in a range of approximately $367 million to $375 million
• Organic revenue growth of 1.5% to 3.5%
• Adjusted EBITDA in the range of $158 million to $162 million, or growth of 0.1% to 2.6%
• Adjusted Net Income in the range of $90 million to $100 million, or growth of 12.1% to 24.5%
• Adjusted EPS in the range of $1.20 to $1.30, or growth of 8.1% to 17.1%
• Free Cash Flow in the range of $110 million to $120 million

GUIDANCE:

Emerald Expositions Events, Inc. sees FY2018 EPS of $1.20-$1.30, versus the consensus of $1.15.

For earnings history and earnings-related data on Emerald Expositions Events, Inc. (EEX) click here.

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