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Dec 31, 2021
MotiTest Q4 2021 Earnings Report
Viad Corp reported results for the fourth quarter and full year 2021, showing significant improvement driven by recovery at Pursuit and GES.
Key Takeaways
Viad Corp's fourth-quarter revenue increased to $183.6 million from $27.9 million in the prior year. The net loss attributable to Viad improved to $22.5 million, and consolidated adjusted EBITDA improved to negative $3.8 million.
Pursuit's fourth-quarter revenue exceeded pre-COVID levels, driven by new attractions.
GES's fourth-quarter revenue increased by 38% on a sequential quarter basis.
Viad delivered positive adjusted EBITDA for the full year 2021.
The company invested in new high-margin experiences at Pursuit and transformed GES' cost structure.
MotiTest
MotiTest
Forward Guidance
Viad expects to deliver significant growth in full year 2022 revenue and adjusted EBITDA at both Pursuit and GES.
Positive Outlook
- Major live events are taking place around the world.
- Canada is welcoming international visitors.
- Viad has three new Pursuit experiences online and a fourth set to open this summer.
- GES is successfully servicing clients with its new lower-cost model.
- Businesses are gradually lifting corporate travel restrictions as vaccines and mitigation efforts are proving effective.
Challenges Ahead
- The company is still operating in a very dynamic environment.
- The Omicron variant is resulting in some near-term disruption to first quarter activity.