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.
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.
Viad Corp (NYSE: VVI) reported its first quarter 2021 financial results, revealing revenue of $28.9 million, a significant decline from $294.7 million in Q1 2020, largely due to pandemic impacts. The net loss for the quarter was $43.2 million. Despite challenges, the company maintained a liquidity position of approximately $220 million and made progress in cash flow management. Notably, demand for leisure travel is increasing, and GES is seeing a gradual recovery in event bookings. The firm continues to prepare for a stronger summer tourism season with new attractions opening soon.
Viad Corp (NYSE: VVI) announced a teleconference scheduled for May 4, 2021, at 5 p.m. ET, where CEO Steve Moster and CFO Ellen Ingersoll will discuss the company's Q1 2021 financial results. Pursuit President David Barry will also join the call. A press release with the financial results will be issued the same day and made available on Viad's website. Stakeholders can register for the call and access a live audio webcast for the event. Viad operates in experiential leisure travel and marketing, primarily through its Pursuit and GES divisions.
Viad Corp (NYSE: VVI) announced a strategic acquisition of a 60% interest in the Golden Skybridge, a new attraction in Canada, costing approximately $12 million. This addition enhances Pursuit’s portfolio aimed at boosting growth in the post-pandemic landscape. The company also filed a 'universal shelf' registration statement with the SEC, facilitating timely capital raises for future opportunities. Viad's liquidity remained strong at approximately $227 million post-acquisition. CEO Steve Moster highlighted the acquisition's potential to bolster shareholder value as the travel sector recovers.
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