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NEW YORK -On Friday, Emerald Holding, Inc. (NYSE:EEX) reported fourth quarter revenue that missed analyst expectations, while earnings fell short.
The company also announced two strategic acquisitions to bolster its event portfolio. Shares rose 3.28% in premarket trading following the news.
The trade show and conference producer posted revenue of $106.8 million for the quarter, lower than the consensus estimate of $114.75 million. Additionally, adjusted earnings per share came in at $0.03, below the $0.09 analysts were expecting.
Emerald’s fourth quarter revenue increased 5.2% year-over-year to $106.8 million, driven by organic growth of 6.5%. For the full year 2024, revenue rose 4.2% to $398.8 million.
The company announced it signed an agreement to acquire This is Beyond, a London-based luxury travel event business, and completed the acquisition of Insurtech Insights, an insurance technology conference operator. The combined purchase price for the two acquisitions is approximately $160 million.
"These strategic acquisitions expand and diversify our portfolio, reinforcing Emerald’s leadership in high-value, growth-oriented industries while sharpening our competitive position," said CEO Hervé Sedky.
For 2025, Emerald expects revenue of $450-460 million and adjusted EBITDA of $120-125 million, including contributions from the new acquisitions.
The company also repurchased $8.4 million of its common stock in the fourth quarter at an average price of $4.68 per share.
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