That an exposition company lost money in 2020 is not surprising. That an exposition company (Emerald) that has cancellation insurance to cover lost revenues on every show they own that was cancelled during the year – and still lost $633.6 million in fiscal 2020 – is surprising.
Emerald Holding Inc.
Emerald Holding, Inc. (NYSE:EEX), formerly Emerald Expositions, reported their fiscal 2020 third quarter results this week and despite their best efforts to shift their business to online virtual conferences, the company reported revenues of just $8.5 million and generated a net loss of $22.3 million. This loss was even deeper than their loss of $19.7 million in the same quarter in 2019 which was well before the COVID-19 pandemic hit the U.S.
See more on the results for Emerald Holding this past fiscal quarter…[Read more…] about Despite 90 Virtual Events & $40M in Claims Income, Emerald Loses $22.3M
Emerald Holding, Inc. (Formerly Emerald Expositions Events, Inc.) [NYSE: EEX], the company that owns the CEDIA Expo show and CE Pro, announced last week that its Board of Directors has authorized company managers to purchase up to $20 Million of Emerald’s stock in a share buyback program. As Strata-gee noted back in May in a report on the company’s large fiscal first quarter loss, this program had previously been suspended when cash had tightened up after the cancellation of their events due to COVID-19.
Now the company has been recapitalized, thanks to help from sugar daddy Onex who now owns more than 80% of the company, and – gosh – the stock is so darn cheap. Maybe now is the time to buy…
See more on this stock purchase by Emerald[Read more…] about Change of Strategy: Emerald Board Tells Company Managers to Buy Stock…Theirs
Emerald Expositions announced today that CEDIA Expo Virtual drew 7,600 trade professional registrations for their three day run from September 15-17, 2020. Although this figure is less than half the attendance at the live, in-person version, Emerald considers it a great success as an all-virtual event.
See more on the results for CEDIA Expo Virtual[Read more…] about Emerald Expo Says CEDIA Expo Virtual Registers 7,600; Claims Virtual Success
Owner of CEDIA Expo & CEPro Looks to Turn the Corner from COVID…Some Day
Emerald Holding Inc. (NYSE:EEX) – formerly Emerald Expositions Events, Inc. – released their fiscal 2020 second quarter results this week and it’s no surprise that they were brutal, as the company continues to find itself caught in a COVID catastrophe that is killing in-person events, like the very expositions they produce. With the second quarter covering the period of April – June, the previous peak of the pandemic’s infections and deaths (since exceeded), the company performance – as expected – was really challenged, with the bulk of their various trade shows and in-person events cancelled or postponed.
But the company did have one piece of good news…the insurance companies providing event cancellation insurance to the company have begun paying against their claims.
See an analysis of Q2 results for Emerald…[Read more…] about A COVID Catastrophe – Emerald Reports 93% Drop in Q2 Revenues; Confirms Insurance Payments
COVID-19, the massive pandemic that changed everything this year, probably infected your business and perhaps made it ill in a way that will take time to recover. But for Emerald Expositions, the national expositions company that owns the CEDIA Expo show and CE Pro – COVID-19 almost killed them.
Now Emerald’s sugar daddy, Onex Corporation, is ready to throw them a lifeline…a $400 million lifeline to be exact.
Learn more about Emerald’s lifeline…[Read more…] about Sugar Daddy Onex Throws Emerald Expositions a Lifeline
Status of CEDIA Expo Remains in Doubt
Emerald Holding Inc. (NYSE: EEX), formerly known as Emerald Expositions Events Inc. – a national exposition company that is home to both the CEDIA Expo and CE Pro magazine – has announced that they are postponing all events for the first two quarters of 2020 due to the rapid spread of the global pandemic Coronavirus (COVID-19). Given their position as one of the largest producers of B-to-B trade shows in the U.S., this is a major development with huge impact on the various industries their shows serve.