Proactive Investors - Run By Investors For Investors

Viad board authorizes buyback of half a million shares

The company says it continues to make progress toward accelerating growth and profitability in its GES live-events and Pursuit travel businesses
An audience
The live-events business continues to drive same-show growth, according to Viad

Viad Corp (NYSE:VVI), the live-events company, announced that its board has authorized the purchase of 500,000 shares.

Phoenix-based Viad also said it posted an unexpected fourth-quarter loss on higher-than-expected revenue as it continues to make progress toward accelerating growth and profitability in its GES live-events and Pursuit travel businesses.

READ: Corporate Travel shares surge as it dismisses shortseller’s second report

For the three months ended December 31, the company posted a net loss attributable to common shareholders of $0.12 on revenue of $296.9 million. The average forecast of economists was for earnings per share of $0.01 on expected revenue of $287.4 million.

“I am encouraged by the actions we are taking to capitalize on key opportunities and position our business for future success,” CEO Steve Moster said in a statement.

The company added that the GES business continues to drive same-show growth.

Shares slipped $0.01 to $54.19 in Friday's New York trading.

Contact Dennis Fitzgerald at [email protected]

View full VVI profile View Profile

Viad Corp Timeline

Related Articles

Oil pollution
July 02 2018
A name change might be in order if PCG pulls the trigger on two investments it is mulling
Theme Park
March 28 2019
Canaccord Genuity upgraded its rating for accesso to ‘buy’ from hold’ following the e-ticketing and guest experience firm’s recent full-year 2018 results
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use