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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 significant financial recovery in Q3 2021, achieving 66% of pre-COVID revenue levels. Revenue soared to $233.6 million, compared to $62.8 million in Q3 2020. Net income reached $15.1 million with adjusted segment EBITDA at $55.4 million. Pursuit's revenue hit $117.6 million, 87% of 2019 levels, driven by strong domestic travel, while GES saw a 370% increase to $116.0 million. Cash flow from operations was approximately $37 million, and cash reserves stood at $111 million.
Viad Corp (NYSE: VVI) will hold a teleconference on November 4, 2021, at 5 p.m. (ET) to discuss its third quarter 2021 results. CEO Steve Moster and CFO Ellen Ingersoll will lead the call, with Pursuit President David Barry also participating. A press release detailing financial results will be issued that day and available on their website. Investors are encouraged to register prior to the call, and a live audio webcast will be accessible. Viad focuses on providing experiential leisure travel and live events.
Viad Corp (NYSE: VVI), a leader in experiential leisure travel and live events, announced that CEO Steve Moster will participate in two upcoming conferences in September 2021.
- Sidoti Virtual Investor Conference on September 22. Moster will present at 1:45 p.m. Eastern Time.
- Wells Fargo Consumer Conference on September 23. Investor meetings will take place at the Ritz-Carlton, Dana Point, California.
An updated investor presentation will be available on their website by September 22 at 8 a.m. Eastern Time.
GES has appointed Mike Haarvei as Vice President of Client Relations, enhancing its healthcare marketing strategy. Haarvei brings over 25 years of experience in leadership and healthcare program management, having previously served as VP Strategic Accounts for Sparks. His expertise will strengthen GES's ability to deliver innovative marketing solutions to healthcare clients. This strategic hire is expected to further develop GES's client relations and expand its healthcare client base, supporting the company's growth in experiential marketing.
Viad Corp (NYSE: VVI) reported a significant increase in its second quarter 2021 revenue, reaching $61.2 million, a 112% increase from $30.1 million in Q2 2020. The company is experiencing a recovery in demand for leisure travel and live events as pandemic restrictions ease, though a net loss of $42 million was reported. Pursuit generated 66% of its 2019 Q2 revenue, while GES saw a 30% sequential increase. The recent refinancing of $450 million in debt into a new $500 million facility enhances their financial flexibility and supports growth initiatives.
GES has appointed Jeff Stelmach as the new Global President of Brand Experiences, enhancing its leadership in experiential marketing. Stelmach brings over 30 years of industry expertise, having previously led top-tier agencies like Opus and Mosaic. His extensive experience includes partnerships with major brands such as Samsung and Coca-Cola, and he is a two-time winner of the Grand Ex Award for best experiential campaign. The appointment aims to strengthen GES's strategic direction and meet the growing demand for impactful brand experiences.
Viad Corp (NYSE: VVI) announced the details for its second quarter 2021 earnings call on August 5, 2021, along with its preliminary liquidity position as of June 30, 2021, showing approximately $196 million in total liquidity. Viad is refinancing its $450 million revolving credit facility, aiming for a new structure to enhance financial flexibility. Current bookings for Pursuit’s Glacier Park and Alaska experiences are outpacing 2019 levels, while GES reports increased activity as live events resume. These developments could strengthen Viad's market position.
Viad Corp (NYSE: VVI) announced participation in two virtual conferences in June 2021. Management will present at the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, at 4:35 p.m. ET, with investor meetings available. They will also participate in the Jefferies Virtual Consumer Conference on June 23, 2021, at 3:15 p.m. ET, also with available investor meetings. An updated investor presentation will be posted on Viad's website by June 16 at 8 a.m. ET. Viad provides experiential leisure and live events through its businesses, Pursuit and GES.
GES, a global leader in experiential marketing, launched the GES Plus Series℠, aiming to simplify exhibitor services and pricing structures. The first two programs, Material Handling+ and Electrical+, focus on transparent invoicing and practical pricing models. Material Handling+ shifts measurement to pounds for easy cost calculation, while Electrical+ includes all necessary items in a packaged price. The initiative underscores GES's commitment to improving the exhibiting experience for clients, with plans to expand the series throughout 2021.
GES has launched Visit GO! by GES℠, a global application designed for verifying COVID-19 test results and vaccination statuses, facilitating the safe return to live events. Implemented first at the London Mayoral Elections on May 11, 2021, this technology enhances safety for attendees by connecting health statuses with event badges. The user-friendly, mobile-optimized application reduces onsite testing needs and is compatible with various health agencies and test vendors globally. GES aims to ensure a secure environment for events while exceeding health and safety obligations.
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