Brief: Emerald Expositions Reports 26.7% Q3 Revenue Decline

Emerald Holding

05/11/2019 11:57

Nov 5 (Reuters) - Emerald Expositions Events Inc  EEX.N :
    * QTRLY REVENUES DECREASED 26.7% TO $75.6 MILLION, COMPARED
TO
$103.1 MILLION FOR Q3 2018
    * Q3 INCLUDED A NON-CASH CHARGE OF $26.3 MILLION RELATED TO
IMPAIRMENT OF GOODWILL AND CERTAIN INTANGIBLE ASSETS
    * SEES FY REVENUE IN A RANGE OF APPROXIMATELY $362 MILLION
TO $369
MILLION
    * SEES FY ORGANIC REVENUE DECLINE IN THE RANGE OF 3.9% TO
5.6%
    * EMERALD EXPOSITIONS EVENTS QTRLY LOSS PER SHARE $0.27 PER
SHARE
    * SEES FY ADJUSTED DILUTED EPS IN THE RANGE OF $0.95 TO
$0.88
    * SEES 2019 ORGANIC REVENUE DECLINE IN THE RANGE OF 3.9% TO
5.6%
    * SEES FY ADJUSTED EBITDA IN THE RANGE OF $118 MILLION TO
$125
MILLION
    * SEES 2019 FREE CASH FLOW IN THE RANGE OF $60 MILLION TO
$65
MILLION
    * FY2019 EARNINGS PER SHARE VIEW $0.89, REVENUE VIEW $365.3
MILLION -- REFINITIV IBES DATA
    * Q3 EARNINGS PER SHARE VIEW $0.13, REVENUE VIEW $79.4
MILLION --
REFINITIV IBES DATA
    * EMERALD - JULY ASD MARKET WEEK SHOW WAS FLAT IN REVENUES
DESPITE
ADVERSE IMPACT ON SOURCING CATEGORY OF ONGOING TRADE DISPUTE
BETWEEN U.S. & CHINA
    * EMERALD EXPOSITIONS EVENTS- THIRD QUARTER RESULTS WERE IN
LINE
WITH EXPECTATIONS, ALBEIT ADVERSELY IMPACTED BY SEVERAL
TRANSITORY, ONE-TIME ISSUES
    * FY 2019 FREE CASH FLOW IN RANGE OF $60 MILLION TO $65
MILLION
    * EMERALD EXPOSITIONS-  MAINTAINING FY GUIDANCE, SUBJECT TO
IMPACT
ON TOTAL REVENUE OF CANCELLATION OF SURF EXPO, ISS ORLANDO DUE
TO HURRICANE DORIAN

Source text for Eikon: (http://bit.ly/2pGWPnG)
Further company coverage:  EEX.N 

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