Emerald Holding Q4 revenue rises 24% on acquisitions

Overview

• U.S. trade show organizer's Q4 revenue rose 24% yr/yr, driven by acquisitions

• Adjusted EBITDA for Q4 rose 10% yr/yr, reflecting contributions from recent acquisitions

• Company posted a Q4 net loss due to higher non-recurring acquisition-related expenses

Outlook

• Emerald expects 2026 revenue of $490–$495 mln and adjusted EBITDA of $137.5–$142.5 mln

• Company says current sales trends provide visibility for continued growth in 2026

• Emerald highlights a resilient, diversified portfolio and healthy customer demand entering 2026

Result Drivers

• ACQUISITIONS - Q4 revenue growth was primarily driven by $25.4 mln in revenue from acquisitions, according to the company

• NEW EVENT LAUNCHES - Organic revenue growth in the Connections reportable segment was mainly due to new event launches

• NON-RECURRING EXPENSES - Q4 net loss was mainly due to higher non-recurring acquisition-related expenses, including contingent consideration remeasurement adjustments

Company press release: ID:nBw3dsYl0a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the business support services peer group is "buy"

• Wall Street's median 12-month price target for Emerald Holding Inc is $7.85, about 89.2% above its March 12 closing price of $4.15

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 21 three months ago

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