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.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
