The following is a summary of the Viad Corp (VVI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Viad Corp reported a Q1 revenue increase of $12.7 million (4.9% YoY) with growth at both Pursuit and GES.

• The company's adjusted EBITDA increased by $0.9 million, indicating improved operations.

• Despite the revenue increase, the GAAP net loss was higher by $4.2 million due to non-operational items and income tax expense.

• Liquidity at the end of the quarter stood at $137.2 million, including cash of $48.8 million and available credit facility of $88.4 million. Debt stood at $488.4 million.

• Viad Corp has managed to reduce its borrowing rate by 75 basis points, an action set to reduce its annual interest cost by over $2.5 million.

Business Progress:

• Both Pursuit and GES segments performed strongly, registering significant growth.

• New client wins for GES since launching and strong operating cash flow expectations highlight a positive outlook.

• Ongoing efforts to improve margin at GES resulted in an 8% adjusted EBITDA margin for Q1, up by 70 basis points YoY.

• Performance improvements in Las Vegas and the successful launch of FlyOver Chicago highlight operational progress.

• The launch of FlyOver Chicago and significant advanced demand for products indicate promising revenue streams.

• The increase in Iceland's airlift from Western Europe and North America reveals a potential expansion of services.

• The company expects strong growth in the future backed by a major pipeline of opportunities within iconic locations.

More details: Viad IR

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