Viad Corp. (VVI) Tops Q3 EPS by 2c, Beats on Revenues

Viad Corp. (NYSE: VVI) reported Q3 EPS of $1.33, $0.02 better than the analyst estimate of $1.31. Revenue for the quarter came in at $339.1 million versus the consensus estimate of $327.59 million.

2017 Full Year Guidance

• Consolidated revenue is expected to increase by approximately 7% to 8% from 2016 full year revenue, driven primarily by incremental contributions from acquisitions completed during 2016 and continued growth in the underlying business, partially offset by unfavorable currency translation of approximately $5 million, negative show rotation of about $10 million and a $13 million reduction in revenue from package tours as the company completes the rationalization of that line of business in Canada.
• Consolidated adjusted segment EBITDA is expected to be in the range of $153 million to $155 million, as compared to prior guidance of $153.5 million to $157.5 million and $130.2 million* in 2016. The reduction versus prior guidance primarily reflects a lower EBITDA contribution from ON Services than previously anticipated as the company continues to focus on integration efforts that will drive future revenue and cost synergies. Largely offsetting that reduction is an improved outlook for Pursuit.
• Exchange rates are assumed to approximate $0.81 U.S. Dollars per Canadian Dollar and $1.31 U.S. Dollars per British Pound during the 2017 fourth quarter. Exchange rate variances are expected to impact 2017 full year results as follows:

For earnings history and earnings-related data on Viad Corp. (VVI) click here.

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