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Viad Corp - VVI STOCK NEWS

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.

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Viad Corp (NYSE: VVI), a global provider of extraordinary experiences, will host a teleconference to discuss its Q2 2024 financial results. The call, led by CEO Steve Moster and CFO Ellen Ingersoll, is scheduled for August 6, 2024, at 5 p.m. Eastern Time. Pursuit President David Barry will also join the discussion. The press release and earnings presentation will be available on Viad's website ahead of the call. The conference can be accessed via phone or a live audio webcast, with replays available afterward.

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Viad Corp (NYSE: VVI) announced the acquisition of Jasper SkyTram, a prominent attraction in Jasper National Park. The transaction, pending approval by Parks Canada, is expected to close in July, amounting to $25 million CAD (~$18 million USD). Jasper SkyTram, operating for 60 years, serves over 130,000 visitors annually and offers panoramic views from Whistlers Mountain at 2,263 meters (8,081 feet). Viad expects the acquisition to add $4 million in revenue in 2024 with an adjusted EBITDA margin that enhances Pursuit's overall margin. This deal includes a renewable long-term lease with nearly 30 years remaining, contributing to economies of scale and strong demand.

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Viad Corp (NYSE: VVI) has announced the promotion of Derek P. Linde to President of GES, effective June 3, 2024. Linde, currently the Chief Operating Officer at Viad, has been pivotal in advancing strategic goals and driving revenue growth, profitability, and cash flow. He has played a key role in launching the Spiro experiential marketing agency and implementing margin initiatives within GES Exhibitions. Linde, who joined Viad in 2018, has a background in legal leadership roles at Illinois Tool Works and Winston & Strawn LLP. His new role aims to capitalize on GES's global reach and growth opportunities.

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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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Viad Corp (NYSE: VVI) to hold teleconference to review first quarter 2024 results with President, CEO, and CFO. The call will be on May 2, 2024, at 5 p.m. (Eastern Time) with Pursuit President in attendance. Details for accessing the call and webcast provided in the press release.
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Viad Corp (NYSE: VVI) executives to participate in investor conferences and update investor presentation on website.
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Viad Corp reported record results with 17% full year revenue growth and continued margin expansion. The company expects strong growth and margin improvement again in 2024. Pursuit delivered record revenue with a 23.6% increase in the fourth quarter and a 17.0% increase for the full year. GES also outperformed expectations with a 16.6% increase in revenue for the fourth quarter and a 7.3% increase for the full year. However, net income attributable to Viad decreased by 31.0% from the previous year, and diluted EPS decreased by 43.4%.
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Cintas Corporation (Nasdaq: CTAS) has appointed Beverly K. Carmichael as an independent director to its Board of Directors, expanding the Board to 11 members. Carmichael brings over 30 years of experience in human resources and employment law, with a track record of building high-performance workforce cultures. Her previous roles include Executive Vice President at Red Robin Gourmet Burgers and Senior Vice President at Cracker Barrel Old Country Store. She has also held leadership positions at Ticketmaster, Rockwell Collins, and Southwest Airlines, and has served on the boards of public and private companies such as Viad Corp, Cotton Patch Cafe, Inc., and ezCater, Inc.
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Viad Corp (VVI) will host a teleconference to review Q4 and full year 2023 results. President and CEO Steve Moster, CFO Ellen Ingersoll, and Pursuit President David Barry will join the call on February 8, 2024, at 5 p.m. (Eastern Time). The company will issue a press release and post it on their website prior to the call. Conference call details and webcast information are available on their website.
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Global Experience Specialists (GES) announced the promotion of Jeff Quade to President of GES Exhibitions – North America and Jason Stead to President of GES Exhibitions – EMEA. With over 30 years of executive leadership experience at GES, Quade heads the North American business unit of GES Exhibitions, while Stead brings a global perspective in driving strategy and operations combined with an outstanding ability to lead and develop high performing teams.
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FAQ

What services does Viad Corp provide?

Viad Corp offers marketing services, travel and recreation experiences, experiential marketing, and live event management through its three segments: Pursuit, Spiro, and GES Exhibitions.

What is the Pursuit segment?

Pursuit offers unforgettable travel experiences, including recreational attractions, hotels, lodges, food and beverage, retail, sightseeing, and ground transportation services.

What does Spiro specialize in?

Spiro is a marketing agency that partners with global brands to enhance their experiential marketing activities, creating impactful marketing campaigns.

What services does GES Exhibitions provide?

GES Exhibitions offers full-service strategic and logistical solutions for exhibition and conference organizers, helping manage the complexity of shows and events.

Where does Viad Corp operate?

Viad Corp operates in North America, the United Kingdom, Europe, and the United Arab Emirates.

How does Viad Corp ensure high-quality services?

Viad Corp maintains high-quality services through strategic partnerships, a diverse portfolio, and a commitment to innovation and excellence.

What recent achievements has Viad Corp attained?

Viad Corp's recent achievements include successful new projects and maintaining strong financial health, further solidifying its industry leadership.

What is the financial condition of Viad Corp?

Viad Corp's financial condition is robust, supported by strategic partnerships and a diverse array of high-quality services.

What type of travel experiences does Pursuit offer?

Pursuit offers a range of travel experiences including recreational attractions, hotels, lodges, food and beverage services, retail, sightseeing, and ground transportation.

What industries is Viad Corp involved in?

Viad Corp is involved in the marketing, travel and recreation, and live events industries through its Pursuit, Spiro, and GES Exhibitions segments.

Viad Corp

NYSE:VVI

VVI Rankings

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841.01M
21.13M
2.93%
94.6%
1.28%
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