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Viad Corp

Q12024

5/2/2024

speaker
Operator
Conference Operator

to Viad Corp's first quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star one on your telephone keypad. If you would like to withdraw your question, press star two. Thank you. Carrie Long, you may begin your conference.

speaker
Keri Long
Investor Relations

Good afternoon, and thank you for joining us for Viad's 2024 first quarter earnings conference call. We issued our earnings press release after the market closed today, along with an earnings presentation, which are both available on our website at beyond.com. We will be referring to specific pages from the presentation during the call as we discuss our business performance and outlook. And I'd like to point out that our earnings press release and presentation contain important disclosures regarding non-GAAP measures that we'll be referring to during the call, including adjusted EBITDA and adjusted net loss. During the call, you'll hear from Steve Moster, our president and CEO and president of GES, Alan Ingersoll, our chief financial officer, and David Berry, president of Pursuit. Before turning the call over to Steve, I'd like to remind everyone that certain statements made during the call, which are not historical facts, may constitute forward-looking statements. Information concerning business and other risk factors that could cause actual results can materially differ from those in the forward-looking statements can be found in our annual, quarterly, and other current reports filed with the FCC. And with that, I'll turn the call over to Steve, who will start on page four of our earnings presentation.

speaker
Steve Moster
President and CEO; President of GES

Thanks, Keri, and thanks to all of you for joining our call. I'm happy to report that our first quarter results were in line with our expectations, and we're off to a strong start for 2024. GES's strong first quarter performance drove margin expansion with healthy revenue growth. and Pursuit delivered 14% revenue growth during the seasonally slower period and successfully launched its new Flyer Chicago attraction. We're optimistic about the year ahead and are maintaining our favorable outlook for strong growth as positive trends continue for both businesses. We're in a position of strength with accelerating business activity on the horizon, and expect to deliver approximately 16% to 30% year-over-year growth in our full-year consolidated adjusted EBITDA. At Pursuit, we have an exciting peak summer season ahead and are on track to continue setting new records for both revenue and EBITDA this year. We're seeing signs of robust demand for our destinations and experiences, including Cliver Chicago. At GES, we expect to continue delivering impressive profitable growth this year from healthy industry demand our strong non-annual show schedule, and our transformed margin profile. Now, let's get into the details, starting with Ellen, who will review our financial performance and guidance.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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