Viad Stock Price, News & Analysis

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.

Viad Corp (NYSE:VVI) announced the promotion of Derek P. Linde to Chief Operating Officer, General Counsel & Corporate Secretary, effective March 1, 2022. This expanded role aims to accelerate the company's strategy for significant EBITDA growth. Mr. Linde, who joined Viad in April 2018, will collaborate closely with leadership to enhance enterprise-level initiatives. CEO Steve Moster praised Mr. Linde's contributions, emphasizing his role in driving growth and achieving returns for shareholders. Viad Corp offers unique experiences through its businesses, Pursuit and GES, and is an S&P SmallCap 600 company.