trending
Sponsored Content
Unveiling the Future: Four Market Trends for the Trade Show and Events Industry for 2024 People GoGather Welcomes Gary McCreary as Executive Vice President of Operations and Growth Strategy Associations/Press U.S. B2B Exhibition Industry GDP Contribution and Business Sales Generation Grow Along with Its Recovery Company News TrivWorks Announces New Emcee Bureau Venues & Destinations Cvent Announces Top Meeting Destinations and Hotels Worldwide for 2024 EXHIBITOR News Registration is Open for EXHIBITOR Education Week, July 15-19 in Las Vegas Associations/Press UFI Launches Countdown to Global Exhibitions Day, June 5, 2024 People The Expo Group Hires Darren Temple as Chief Growth Officer and Rachel Mazzanti as EVP, Show Sales Company News Louisiana-based Synergy Design Group Acquires Imagen, LLC submit your news
email newsletter
|
Company News
Viad Corp Reports 2024 First Quarter Results
5/2/2024
SCOTTSDALE, Ariz. - Viad Corp (NYSE: VVI), a leading global provider of extraordinary experiences, including attractions, hospitality, exhibition management services, and experiential marketing, today reported results for the 2024 first quarter. Steve Moster, Viad’s President and Chief Executive Officer, commented, “We delivered solid first quarter results that were in line with our expectations. Pursuit's 14% revenue growth during the seasonally slower quarter was driven by strong attractions performance, including an impressive launch of our new FlyOver Chicago attraction. GES continues to deliver strong profitable growth, with a 70 basis point year-over-year improvement in its Adjusted EBITDA margin.” Moster continued, "With accelerating business activity ahead and signs of robust demand for our extraordinary experiences at both Pursuit and GES, our favorable full year outlook remains unchanged. We continue to expect year-over-year consolidated adjusted EBITDA growth of approximately 16% to 30% in 2024 with strong free cash flow.” Financial Highlights In addition to the commentary below, further information regarding our financial results, trends, and outlook are available in a supplemental earnings presentation, which can be accessed on the “Investors” section of our website, and in the financial tables accompanying this press release. First Quarter Results Revenue of $273.5 million increased $12.7 million (4.9%) from the 2023 first quarter.
Our guidance for Viad consolidated, Pursuit, and GES is as follows: About Viad Viad (NYSE: VVI) is a leading global provider of extraordinary experiences, including attractions, hospitality, exhibition management services, and experiential marketing through two businesses: Pursuit and GES. Our business strategy focuses on delivering extraordinary experiences for our teams, clients and guests, and significant and sustainable growth and above-market returns for our shareholders. Viad is an S&P SmallCap 600 company. Pursuit is a global attractions and hospitality company that owns and operates a collection of inspiring and unforgettable experiences in iconic destinations. Pursuit’s elevated hospitality experiences enable visitors to discover and connect with world-class attractions, distinctive lodges, and engaging tours in stunning national parks and renowned global travel locations, in addition to experiencing our collection of Flyover Attractions in the vibrant cities of Vancouver, Reykjavik, Las Vegas, and Chicago. GES is a global exhibition management and experiential marketing company offering a comprehensive range of services to the world’s leading event organizers and brands through two reportable segments, GES Exhibitions and Spiro. GES Exhibitions is a global exhibition and trade show management business that partners with leading exhibition and conference organizers as a full-service provider of strategic and logistics solutions to manage the complexity of their shows with teams throughout North America, Europe, and the Middle East. Spiro is a global experiential marketing agency that partners with leading brands around the world to manage and elevate their experiential marketing activities, bonding brand and customer. For more information, visit www.viad.com. Forward-Looking Statements This press release contains a number of forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “estimate,” “anticipate,” “deliver,” “seek,” “aim,” “potential,” “target,” “outlook,” and similar expressions are intended to identify our forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. These forward-looking statements are not historical facts and are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following:
Forward-Looking Non-GAAP Measures The company has not quantitatively reconciled its guidance for adjusted EBITDA to its respective most comparable GAAP financial measure because certain reconciling items that impact this metric, including provision for income taxes, interest expense, restructuring or impairment charges, transaction-related costs, and attraction start-up costs have not occurred, are out of the company’s control, or cannot be reasonably predicted. Accordingly, reconciliations to the nearest GAAP financial measure are not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the company’s results as reported under GAAP. For more information go to https://www.viad.com/investors/investor-news/news-details/2024/Viad-Corp-Reports-2024-First-Quarter-Results/default.aspx. Contact: questions@exhibitormagazine.com |
FIND IT - MARKETPLACE
|
|
||||||||||||||||||||||||||||
TOPICS Measurement & Budgeting Planning & Execution Marketing & Promotion Events & Venues Personal & Career Exhibits & Experiences International Exhibiting Resources for Rookies Research & Resources |
MAGAZINE Subscribe Today! Renew Subscription Update Address Digital Downloads Newsletters Advertise |
FIND-IT Exhibit & Display Producers Products & Services Supplier to Supplier All Companies Compare Get Listed |
EXHIBITORLIVE Sessions Certification Exhibit Hall Exhibit at the Show Registration |
ETRAK Sessions Certification F.A.Q. Registration |
EDUCATION WEEK Overview Sessions Hotel Registration |
CERTIFICATION The Program Steps to Certification Faculty and Staff Enroll in CTSM Submit Quiz Answers My CTSM |
AWARDS Sizzle Awards Exhibit Design Awards Portable/Modular Awards Corporate Event Awards Centers of Excellence |
NEWS Associations/Press Awards Company News International New Products People Shows & Events Venues & Destinations EXHIBITOR News |
||||||||||||||||||||
|