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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
