Welcome to our dedicated page for Viad news (Ticker: VVI), a resource for investors and traders seeking the latest updates and insights on Viad stock.
The news associated with the historical Viad Corp ticker VVI now centers on Pursuit Attractions and Hospitality, Inc., whose common stock trades on the New York Stock Exchange under the symbol PRSU. Company press releases describe Pursuit as an attractions and hospitality company that owns and operates a collection of experiences in iconic destinations in the United States, Canada, Iceland, and Costa Rica. Its portfolio includes point-of-interest attractions and distinctive lodges, supported by integrated restaurants, retail and transportation.
News updates for this company frequently cover quarterly earnings results, including revenue, income from continuing operations and adjusted EBITDA for Pursuit’s attractions and hospitality platform. These releases also discuss the treatment of the former GES business as a discontinued operation following its sale, so readers can distinguish between historical and continuing operations.
Another recurring theme in Pursuit’s news is its Refresh, Build, Buy growth framework. Articles describe investments to refresh and reposition existing properties, build new experiences, and acquire targeted businesses that fit its focus on iconic destinations. Examples include announcements about the acquisition of Tabacón Thermal Resort & Spa in Costa Rica’s Arenal region and the purchase of the remaining minority interest in Glacier Park, Inc., which owns lodging, dining and retail outlets in and around Glacier National Park.
Investors and followers of the former VVI listing can use this news feed to review Pursuit’s earnings announcements, capital investment updates, acquisition activity and credit facility changes as disclosed in press releases. Regularly checking this page provides a consolidated view of how the attractions and hospitality business associated with the former Viad Corp entity is communicating its performance and strategic actions.
Viad Corp reported solid first-quarter results for 2024, with Pursuit delivering 14% revenue growth and a successful launch of the FlyOver Chicago attraction. GES saw margin expansion with healthy revenue growth. The company maintains a positive outlook for strong full-year growth based on continued positive trends in both businesses.
Revenue for the first quarter increased by 4.9% to $273.5 million, with Pursuit revenue growing by 14% and GES revenue by 3.6%. Adjusted EBITDA improved by 27.1% to $4.3 million. The company expects consolidated adjusted EBITDA growth of approximately 16% to 30% in 2024, with strong free cash flow.
Despite a net loss increase of $4.2 million primarily due to higher non-operational items and income tax expense, adjusted net loss improved by $0.3 million. Viad's cash flow from operations was an outflow of $7.5 million, with total liquidity of $137.2 million and a debt of $488.4 million. The company's 2024 outlook shows positive projections for revenue, adjusted EBITDA, cash flow from operations, and capital expenditures.
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