Viad Corp. (NYSE:VVI) Q4 2022 Earnings Conference Call February 9, 2023 5:00 PM ET
Company Participants
Carrie Long - Investor Relations
Steve Moster - President and Chief Executive Officer and President-GES
David Barry - President of Pursuit
Ellen Ingersoll - Chief financial Officer
Conference Call Participants
Kartik Mehta - Northcoast Research
Bryan Maher - B. Riley Securities
Tyler Batory - Oppenheimer
Barry Haimes - Sage Asset Management
Operator
Good afternoon. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to the Viad Corp's Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions]
Carrie Long, you may begin your conference.
Carrie Long
Good afternoon, and thank you for joining us for Viad's 2022 Fourth Quarter and Full Year Earnings Conference Call. We issued our earnings press release after market closed today, along with an earnings presentation, which are both available on our website at viad.com. We will be referencing specific pages from the presentation during the call as we discuss our business performance and outlook. I also want to point out that our earnings press release and presentation contain important disclosures regarding non-GAAP measures that we will be referring to during the call, including adjusted EBITDA and net income or loss before other items.
During the call, you will hear from Steve Moster, our President and CEO and President of GES; David Barry, our President of Pursuit; and Ellen Ingersoll, our Chief Financial Officer.
Before turning the call over to Steve, I want 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 to 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 with that, I will turn the call over to Steve.
Steve Moster
Good afternoon, and thank you for joining us. To start the call, I'd like to thank our team members around the world for their continued dedication and efforts, which are reflected in our fourth quarter and full year results.
Starting on Page 4, I want to provide my highlights on the quarter and our path forward. David, Ellen, and I will expand on these highlights later in the call to give you more clarity on what we're seeing in each business. First, I'm very pleased with our performance in 2022. Pursuit achieved record revenue in the year due to the continued recovery of the adventure travel industry and the steady investments we've made to drive growth through our Refresh, Build, Buy initiatives. GES significantly outperformed our expectations in 2022 as the live event industry came roaring back from pandemic levels. Second, in 2022, Viad delivered strong results through our strategic focus on scaling Pursuit and improving the profitability of GES, despite several macro external forces.