Viad Corp. (VVI) Misses Q1 EPS by 22c, Revenues Beat

Viad Corp. (NYSE: VVI) reported Q1 EPS of ($2.23), $0.22 worse than the analyst estimate of ($2.01). Revenue for the quarter came in at $28.9 million versus the consensus estimate of $25.4 million.

Steve Moster, president and chief executive officer, commented, “As expected, our first quarter revenue was affected by pandemic-related restrictions and our team continued to respond incredibly well to maximize revenue, control costs and provide great service for our guests and clients. We ended the quarter in a strong liquidity position and we have taken additional actions to accelerate our recovery and position us for greater success as our industries recover. Notably, we continued to reduce GES’ facility footprint and we completed a great tuck-in acquisition to expand Pursuit’s portfolio of high-margin attractions.”

Moster continued, “With continued progress on the number of vaccinations, we are seeing increased demand and optimism for both leisure travel and in-person events. This is manifesting in strong advance bookings for rooms at Pursuit’s iconic locations, with room reservations pacing ahead of 2019 at the Glacier Park and Alaska Collections. Although Banff bookings remain constrained by the Canadian border closure, we firmly believe this iconic location will benefit from pent-up perennial demand once Canada re-opens its borders for international tourism. At GES, the recovery is also starting to unfold. Face-to-face events are taking place in some locations and Las Vegas recently approved large scale events beginning in June. Our clients remain eager to return to in-person events and our level of event bookings for the back half of 2021 is encouraging.”

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

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