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Jun 30, 2020
MotiTest Q2 2020 Earnings Report
Viad Corp reported financial results, bolstered liquidity, and secured financial flexibility.
Key Takeaways
Viad Corp's Q2 2020 revenue was $30.9 million, a 92.3% decrease compared to Q2 2019. The company reported a net loss attributable to Viad of $206.3 million, compared to a net income of $13.8 million in the same quarter of the previous year. The results reflect the impact of the COVID-19 pandemic.
Secured up to $180 million investment from Crestview Partners and amended credit facility to provide financial covenant relief until September 30, 2022.
GES continues to minimize costs while supporting clients with virtual events and plans for future event activity.
Pursuit experiences are open and welcoming guests with focus on local and regional visitors.
Limited cash outflow during the quarter to about $8 million through aggressive cost reductions, diligent working capital management, the monetization of certain non-operating assets, and the phased re-opening of Pursuit’s experiences
Forward Guidance
Given the evolving, uncertain nature of COVID-19, it is impossible to predict how the pandemic and government reactions will continue to impact the events industry and the broader travel market. Accordingly, we will not be re-issuing financial guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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