Viad Corp. (NYSE:VVI) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET

Company Participants

Carrie Long – Investor Relations

Steve Moster – President and Chief Executive Officer and President-GES

Ellen Ingersoll – Chief financial Officer

Conference Call Participants

Bryan Maher – B. Riley

Tyler Batory – Oppenheimer

Kartik Mehta – Northcoast

Operator

Good afternoon. My name is Austin and I will be your conference operator today. At this time, I would like to welcome everyone to the Viad Corp. Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Thank you. Carrie Long, you may now begin your presentation.

Carrie Long

Good afternoon and thank you for joining us for Viad’s 2022 third quarter earnings conference call. We issued our earnings press release today after market closed, along with our 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’ll be referring to during the call, including adjusted EBITDA. During the call you’ll hear from Steve Moster, our President and CEO and President of GES; and Ellen Ingersoll, our Chief financial Officer. As we announced earlier this month, Pursuit’s President David Barry, who typically joins these calls is currently out on medical leave following a successful surgical procedure.

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’ll turn it 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 the results for the third quarter.

Starting on Page 4 of our earnings presentation, I want to touch on three highlights about the quarter that we’ll expand upon during this call. First, our consolidated third quarter results were significantly ahead of 2021 and in line with our prior guidance, both businesses performed well in the quarter. And net income attributable to Viad nearly tripled year-over-year as our actions to scale Pursuit transformed GES Exhibitions’ cost structure, and strengthen Spiro’s capabilities accelerated our growth.