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Viad Corp

Q22024

8/6/2024

speaker
Conference Operator
Operator

your conference operator today. At this time, I'd like to welcome everyone to ViadCorp's second 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'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, please dial star two. Thank you. Carry along, you may begin your conference.

speaker
Carrie
Investor Relations

Good afternoon, and thank you for joining us for the 2024 Second Quarter Earnings Conference Call. During the call, you will hear from Steve Monster, our President and CEO, Ellen Ingersoll, our Chief Financial Officer, and David Barry, President of Pursuit, who will each be referencing specific pages from our earnings presentation. The presentation, which is available on our website, contains important disclosures regarding non-GAAP measures that we'll be referring to during the call, including adjusted EBITDA and adjusted net income. Additionally, 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 SEC. And now, I'd like to turn the call over to Steve. We'll start on page four of our earnings presentation.

speaker
Steve Monster
President and Chief Executive Officer

Thanks, Carrie, and thanks to all of you for joining our call. I'm happy to report that our second quarter results exceeded our prior guidance with both GES and Pursuit delivering very strong performance. GES's adjusted EBITDA was above our guidance with impressive revenue growth and margin improvement. And based on the strength that we are seeing at GES, we're raising our full year outlook for GES's adjusted EBITDA. Pursuit's adjusted EBITDA came in near the high end of our guidance range. as we continue to see strong demand for our attractions and lodges and the iconic locations in which we operate. Entering the third quarter, we had every reason to believe pursuit would deliver on our prior guidance range for the full year. The peak summer season was off to a strong start, and our advanced bookings pointed to a healthy year-over-year growth for the second half of 2024. However, our operations in Jasper National Park are currently being impacted by wildfire activities. As we previously disclosed by 8K, the park was closed and evacuated on July 22nd. The majority of the park, including the town of Jasper, remains closed as authorities continue to work to control the fire and restore critical services to the Jasper town site. Our hearts go out to the Jasper community and all who have been impacted, and we're incredibly thankful to the many first responders, firefighters and our team members for their work to protect lives, homes, businesses, and infrastructure. We will cover the latest updates on the Jasper wildfire and our outlook assumptions later in the call. Right now, I'd like to turn the call over to Ellen, who will review our second quarter financial performance. Ellen?

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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