San Juan Capistrano, Calif. — Emerald Expositions Events Inc. released second quarter financial results that showed $74 million in revenue for the quarter, up 14% from the previous year. President and CEO David Loechner said in an earnings conference call that overall revenue is up 9% year-to-date compared to last year.
The company reported that acquired business accounted for $1.4 million in expenses in the quarter. Loechner noted that relocation of the Outdoor Retailer show to Denver accounted for some extra costs.
That relocation resulted from a boycott by major sponsor Patagonia and other companies after Utah Gov. Gary Herbert urged the Trump administration to rescind creation of the Bears Ears National Monument in Utah. The Utah legislature also took action that would downsize the Grand Staircase-Escalante National Monument.
Those actions came too late to relocate the 2017 show, Loechner said, but Emerald subsequently bought out its Salt Lake City contract (for 2018) and negotiated a new deal to hold the show in Denver.
Replying to questions about how the current space crunch at the Jacob K. Javits Center in New York will affect shows like NY NOW, Loechner said that Emerald will use some “ancillary space not at Javits Center,” but that the exhibit space next year will be “mostly the same as this year.”
The company further announced that Interbike will move from Las Vegas to Reno, Nev., next year and that a two-day consumer festival will be added before the show. “The industry is very receptive to the move,” he said. “We are optimistic about having a stronger show next year.”
Loechner said Emerald’s overall growth in the second quarter was “pretty much in line with expectations” and added that there is “a pipeline with a huge market of actionable targets” for future mergers and acquisitions in the coming year. “We don’t see a change of strategy.”
Reach David Loechner at (949) 226-5700 or firstname.lastname@example.org