The following is a summary of the Viad Corp (VVI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Revenue of $455.7 million increased 25% year-over-year.

• Consolidated adjusted EBITDA of $103.1 million, up by $16.9 million.

• Adjusted net income improved by $16.5 million, with GAAP basis net income of $48.6 million.

• Cash from operations was $110 million, with $15 million spent on capital expenditures and $94 million of debt repaid.

• Total liquidity at nearly $230 million with no borrowings on the revolver.

Business Progress:

• Strong quarterly performance by Pursuit and GES with notable revenue growth and margin improvement.

• Completed a $15.9 million tuck-in acquisition for Pursuits Glacier Park Collection.

• Sale of GES expected to finalize by the end of the year, transitioning Pursuit to a standalone entity focused on high growth and margins.

• Plans for significant organic growth and additional acquisitions to enhance Pursuit's offerings further.

Opportunities:

• Expansion through the tuck-in acquisition enhances Pursuit's operations within Glacier National Park.

• Anticipated compression in the market should boost occupancy and rates, with an expected strong demand rebound.

Risks:

• Wildfire activities led to a significant downturn in revenue at Jasper National Park, indicating vulnerability to environmental risks and potential operational disruptions.

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