Viad Corp (NYSE:VVI) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET
Company Participants
Carrie Long - Investor Relations
Steven Moster - President and Chief Executive Officer and President, GES
Ellen Ingersoll - Chief Financial Officer
David Barry - President, Pursuit
Conference Call Participants
Bryan Maher - B. Riley Securities
Alex Fuhrman - Craig-Hallum
Kartik Mehta - Northcoast Research
Operator
Good afternoon. My name is Matt and I’ll be your conference operator today. At this time, I would like to welcome everyone to Viad Corp’s First Quarter 2024 Earnings Conference Call. [Operator Instructions] Thank you. Carrie Long, you may begin your conference.
Carrie Long
Good afternoon and thank you for joining us for Viad’s 2024 first 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 referring to specific pages from the presentation during the call as we discuss their business performance and outlook. And I’d like 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 adjusted net loss.
During the call, you’ll hear from Steven 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’d like 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.
Steven Moster
Thanks, Carrie, and thanks to all of you for joining our call. I am happy to report that our first quarter results were in line with our expectations, and we’re off to a strong start for 2024. GES’ strong first quarter performance drove margin expansion with healthy revenue growth and Pursuit delivered 14% revenue growth during the seasonally slower period and successfully launched its new FlyOver Chicago attraction.
We are optimistic about the year ahead and are maintaining our favorable outlook for strong growth as positive trends continue for both businesses. We’re in a position of strength with accelerating business activity on the horizon and expect to deliver approximately 16% to 30% year-over-year growth in our full year consolidated adjusted EBITDA.