Emerald (NYSE:EEX) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Emerald (NYSE:EEX) issued its earnings results on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.19), FiscalAI reports. The company had revenue of $132.70 million during the quarter, compared to analyst estimates of $131.00 million. Emerald had a return on equity of 1.20% and a net margin of 1.05%.

Here are the key takeaways from Emerald’s conference call:

• Emerald delivered a transformational 2025 with $463.4M in revenue (+16.2% y/y) and $127.1M adjusted EBITDA (+25%), with pro forma organic revenue growth of ~4.8% when including 2025 acquisitions.
• Management initiated 2026 guidance of $490–495M revenue and $137.5–142.5M adjusted EBITDA (midpoint ≈ 6% revenue, 10% EBITDA growth) and says >70% of 2026 revenue is already contracted.
• Reported free cash flow was compressed in 2025 by acquisition timing (~$30M) and $6.5M of refinancing fees, but management expects normalized 2026 free cash flow of roughly $85–90M; balance sheet liquidity is healthy with $100.9M cash, $210.4M total liquidity and net leverage at 2.86x.
• The company continued active portfolio reshaping—exiting underperformers and completing tuck-ins (This is Beyond, Insurtech Insights, Generis) to target higher-growth verticals, while the board is continuing a strategic review with no update, creating potential optionality and near-term uncertainty.
• Operational improvements include completed Las Vegas Convention Center construction (removing a 2025 headwind), early AI rollouts to improve exhibitor scalability, and ongoing automation initiatives intended to drive margin expansion over time.

Emerald Stock Up 2.0%

NYSE EEX traded up $0.09 during trading on Friday, reaching $4.24. 17,619 shares of the company’s stock traded hands, compared to its average volume of 38,280. Emerald has a 12-month low of $3.21 and a 12-month high of $5.45. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $837.73 million, a price-to-earnings ratio of 141.21 and a beta of 0.63. The company’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $4.56.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $7.70 price target on shares of Emerald in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Emerald in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Emerald currently has a consensus rating of “Hold” and a consensus price target of $7.70.

Hedge Funds Weigh In On Emerald

Several institutional investors have recently bought and sold shares of EEX. Russell Investments Group Ltd. raised its stake in Emerald by 127.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after buying an additional 3,892 shares in the last quarter. Wells Fargo & Company MN boosted its position in Emerald by 79.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock valued at $68,000 after acquiring an additional 6,756 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Emerald in the 1st quarter valued at $116,000. XTX Topco Ltd increased its holdings in shares of Emerald by 103.7% in the 2nd quarter. XTX Topco Ltd now owns 30,127 shares of the company’s stock valued at $146,000 after acquiring an additional 15,339 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Emerald by 18.1% in the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company’s stock worth $162,000 after acquiring an additional 5,113 shares in the last quarter. 14.90% of the stock is owned by hedge funds and other institutional investors.

About Emerald

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.