Viad Corp - VVI STOCK NEWS

Viad Corp (NYSE: VVI) has completed the sale of ON Services, its US-based audio-visual services business, for approximately $30 million. This move is part of Viad's strategy to simplify its operations at GES and improve its cost structure. The audio-visual services revenue represented about 6% of GES's total revenue for the first nine months of 2022. The proceeds will strengthen Viad's balance sheet and support investments in its Pursuit division, focusing on high-return travel experiences.

Viad Corp (NYSE: VVI) has announced its participation in two significant investor events in December 2022. President and CEO Steve Moster and CFO Ellen Ingersoll will attend a Non-Deal Roadshow in New York on December 7 and the Truist Securities Summit in Boston on December 8. An updated investor presentation will be available on Viad's website on December 7 by 7 a.m. ET. Viad is recognized for providing extraordinary experiences through its businesses, Pursuit and GES, and is part of the S&P SmallCap 600.

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.