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.
Viad Corp (NYSE: VVI) is a distinguished S&P SmallCap 600 diversified services company, operating under three primary segments: Pursuit, Spiro, and GES Exhibitions. Viad Corp has established itself as a leader in providing unparalleled marketing and travel experiences across North America, the United Kingdom, Europe, and the United Arab Emirates.
Pursuit is dedicated to offering inspirational and memorable travel experiences. This segment includes recreational attractions, hotels and lodges, food and beverage services, retail, sightseeing, and ground transportation. Pursuit's comprehensive portfolio ensures guests have remarkable journeys and experiences that last a lifetime.
Spiro is a prominent marketing agency that collaborates with global brands to enhance their experiential marketing initiatives. Spiro specializes in creating dynamic and engaging marketing campaigns, ensuring brands connect with their audiences in meaningful ways.
GES Exhibitions partners with exhibition and conference organizers to deliver a full range of strategic and logistical solutions. This segment is a full-service provider, managing the intricacies of shows and ensuring seamless execution. GES Exhibitions supports organizers in crafting impactful and successful events that resonate with attendees.
Viad Corp's recent achievements and ongoing projects highlight its commitment to innovation and excellence. The company's financial health is robust, underpinned by strategic partnerships and a diverse portfolio of services. Viad Corp continues to excel in delivering high-quality, place-based marketing services, positioning itself as an industry leader in both travel and experiential marketing sectors.
Viad Corp (NYSE: VVI) reported a record revenue of $382.7 million for Q3 2022, marking a nearly 64% increase from 2021. Net income increased to $40.1 million, up $25 million year-over-year, driven by strong demand in its Pursuit and GES segments. Pursuit's revenue grew by 39% due to higher visitation, while GES saw an 89% revenue rise from increased live events. Consolidated Adjusted EBITDA reached $82 million, surpassing pre-pandemic levels. With total liquidity at $165.8 million, Viad expects continued growth into Q4.
Viad Corp (NYSE: VVI) will hold a teleconference on November 3, 2022, at 5 p.m. Eastern Time, to discuss its third-quarter financial results. The company will issue a press release with detailed financial metrics that same day, available on its website. Investors are encouraged to register for the call at least 10 minutes in advance. Viad is known for offering unique travel and live event experiences through its divisions, Pursuit and GES, and is part of the S&P SmallCap 600 index.
Viad Corp (NYSE: VVI) has announced that David Barry, president of its Pursuit business, will take a medical leave of absence for surgery, potentially lasting several months. Derek Linde will serve as interim president of Pursuit while continuing his current roles at Viad. CFO Sam Auck will also expand his responsibilities during this period. David will continue to lead Pursuit until his leave begins, ensuring business continuity. CEO Steve Moster expressed confidence in the interim leadership as Pursuit continues to recover post-pandemic and execute its growth strategy.
Viad Corp (NYSE: VVI) reported a net income of $19.8 million for Q2 2022, a significant improvement from a loss of $42.0 million in Q2 2021. Revenue surged to $319.2 million, with GES and Pursuit achieving substantial year-over-year growth. GES revenue reached 75% of pre-pandemic levels, while Pursuit's revenue exceeded Q2 2019 by 40%. The company raised its full-year guidance for Adjusted EBITDA due to strong momentum across its businesses despite some weather-related challenges. Viad maintained liquidity of $127 million and net debt totaled approximately $492 million.
Viad Corp (NYSE: VVI) will host a teleconference on August 4, 2022, at 5 p.m. Eastern Time to discuss its second quarter 2022 financial results. The call will feature President Steve Moster, CFO Ellen Ingersoll, and Pursuit President David Barry. A press release detailing the financial results will be issued on the same date and made available on their website. Investors must register at least 10 minutes prior to the call.
Viad, a provider of experiential leisure travel and live events, aims to deliver significant growth and returns for shareholders.
Viad Corp (NYSE: VVI) reported strong Q1 2022 results, with revenues reaching $177.4 million, up from $28.9 million in Q1 2021. GES revenue surged by $134.4 million due to the resurgence of live events, while Pursuit achieved a record $23.8 million in revenue from increased visitation and new experiences. Despite a net loss of $29.0 million, consolidated Adjusted EBITDA improved significantly. Positive cash flow management led to $145.3 million in total liquidity. The company raised full-year expectations, citing strong advance bookings and sustained demand for in-person events.
Viad Corp (NYSE: VVI) has announced a teleconference on May 5, 2022, at 5 p.m. Eastern Time, to discuss its first quarter 2022 results. The call will feature President and CEO Steve Moster and CFO Ellen Ingersoll, alongside Pursuit President David Barry. A press release detailing the financial results will be issued on the same day and available on their website. Interested participants can register for the live call through a provided link, and a replay will be accessible post-call.
GES, a leader in exhibition services, has launched Spiro™, a new integrated marketing solutions agency aimed at enhancing brand experience and live events. The agency will offer comprehensive services including event management, hybrid experiences, and community-centered design. GES's Executive Vice President, Jeff Quade, noted the shift in corporate needs, highlighting Spiro's evolution from Brand Experiences to meet client demands year-round. This move positions GES to better serve its corporate accounts and amplify its legacy of excellence in the event industry.
GES has launched Spiro™, a new brand experience agency aimed at enhancing event management in a post-pandemic landscape. This initiative reflects GES's commitment to adapting to the evolving nature of events, integrating in-person, virtual, and hybrid formats. Spiro aims to elevate audience engagement and community building through innovative strategies. With a focus on immersive storytelling, the agency is expected to draw larger audiences and improve brand loyalty for its clients. GES continues to support traditional exhibition services while expanding its capabilities with Spiro.
Viad Corp (NYSE:VVI) announced an agreement to acquire Glacier Raft Company, enhancing its Glacier Park Collection. This acquisition will be funded by existing liquidity and is expected to close in April 2022. Simultaneously, the company amended its 2021 credit agreement for added flexibility through Q1 2023, increasing its leverage ratio to 5.25x. As of March 22, 2022, liquidity stood at approximately $158 million. With improved business conditions boosting cash flow and a positive outlook for growth, Viad is focused on maximizing EBITDA and capital stewardship.
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