Viad Stock Price, News & Analysis

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.

Viad Corp (NYSE: VVI) has announced the appointment of Beverly K. Carmichael as an independent director, effective February 21, 2022. With over 30 years of experience in senior roles across various industries, including hospitality and technology, Carmichael will also serve on the Human Resources Committee. Her extensive background includes previous board service at Leaf Group (NYSE: LEAF) and advisory roles in hospitality tech. Chairman Richard H. Dozer expressed confidence that her expertise will greatly benefit Viad's growth strategy.

Viad Corp (NYSE: VVI) reported significant financial improvements for Q4 and full year 2021, with Q4 revenue reaching $183.6 million, up from $27.9 million in Q4 2020. Full year revenue increased to $507.3 million from $415.4 million in 2020. Notably, Pursuit's revenue exceeded pre-COVID levels due to new attractions, contributing $5 million in Q4. GES saw a 38% revenue rise sequentially. Despite a net loss of $22.5 million in Q4, the company generated positive adjusted EBITDA for the year. The outlook for 2022 anticipates continued growth despite challenges posed by the Omicron variant.

GES has launched four new programs in its GES Plus Series, enhancing exhibitor services and streamlining processes for trade shows. The new offerings include GES Hanging Signs+, GES Exhibit Furnishings+, GES Exhibit Flooring+, and GES Exhibit Systems+. These programs simplify pricing, ordering, and provide bundled services, making exhibiting more cost-effective. The initiative aims to support small exhibit spaces and promote sustainable practices. GES, a Viad Corp company, continues to strengthen its position as a leader in experiential marketing and exhibition services.