Viad Corp (NYSE:VVI) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET

Company Participants

Carrie Long - Investor Relations

Steve Moster - President & Chief Executive Officer & President-GES

Ellen Ingersoll - Chief financial Officer

David Barry - President of Pursuit

Conference Call Participants

Bryan Maher - B. Riley Securities

Tyler Batory - Oppenheimer

Alex Fuhrman - Craig-Hallum Capital Group

Kartik Mehta - Northcoast Research

Operator

Good afternoon. My name is Bailey and I'll be your conference operator today. At this time, I would like to welcome everyone to Viad Corp's Third Quarter 2023 Earnings Conference Call. [Operator Instructions] 'Thank you.

Carrie Long, you begin your conference.

Carrie Long

Good afternoon and thank you for joining us for Viad's 2023 third quarter earnings conference call. We issued our earnings press release after the 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'll be referring to during the call, including adjusted EBITDA and income before other items.

During the call, you'll be hearing from Steve Moster, our President and CEO and President of GES; Ellen Ingersoll, our Chief Financial Officer; and David Barry, President of Pursuit. 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 the call over to Steve, who will start on Page 4 of our earnings presentation.

Steve Moster

Thanks, Carrie and thanks to all of you for joining our call. I'm very proud of our performance across the company during an important third quarter. Both businesses posted strong results in line with our prior guidance ranges, driven by excellent execution and increased demand for international leisure travel and live events. For Pursuit, the third quarter is the biggest quarter of the year as leisure travel to our destination is at its peak during the summer months. And the Pursuit team was firing on all cylinders to deliver record levels of revenue and EBITDA with significant margin expansion. This strong performance and the trends we're seeing give us high confidence in our 2023 full year growth outlook and good reason to expect continued growth in 2024. For GES, the third quarter typically represents the slowest quarter of the year for annually occurring events.