Emerald Expositions Events, Inc. (NYSE:EEX) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 11:00 am ET


Emerald Expositions Events, Inc. (NYSE:EEX) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Emerald Fourth Quarter and Full Year 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Mr. David Doft, incoming Chief Financial Officer. Please go ahead, sir.

David Doft

Thank you, operator, and good morning, everyone. We appreciate your participation today in our fourth-quarter and full-year 2019 earnings call. I'm very pleased to have Brian Field, Emerald's interim president and chief executive officer, with me here today. As a reminder, a replay of this call will be available on the Investors section of the company's website through 11:59 P.M. Eastern Time on February 20, 2020.

Before we begin, let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995. These include remarks about future expectations, beliefs, estimates, plans and prospects. Such statements are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by such statements. Such risks and other factors are set forth in the company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. We do not undertake any duty to update such forward-looking statements.

Additionally, during today's call, we will discuss non-GAAP measures, including organic revenue, adjusted EBITDA, adjusted net income and free cash flow, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with US GAAP. A reconciliation of these non-GAAP measures to the most comparable GAAP measure can be found in our earnings release.

Now I'll turn the call over to Brian.

Brian Field

Thank you, David. On today's call, we will begin by reviewing our strategic initiatives and progress we are making, followed by a review of our 2019 results, which we outlined in this morning's earnings press release. We'll then open the call to your questions. Before we begin, I would like to address Sally's resignation and our search for her replacement.

Sally is continuing her treatment in her fight against cancer and continues to be an incredible mentor, visionary, and leader to our team. Given the taxing nature of her treatment, however, Sally believed it was prudent to step down as CEO while remaining on the board and assuming a more limited day-to-day employment role as senior advisor. She will continue to provide guidance and leadership to our team as we execute the strategic initiatives designed to return the company to sustainable organic growth. While we continue to execute on our initiatives, the board has initiated a search for a permanent CEO. Candidates from both inside and outside the events industry are being considered, and I have personally expressed my interest in the role.

Turning to Emerald's performance at this point, it is mainly about execution. Sally and I have utilized the major aspects of our