viewViad Corp

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

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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]

Quick facts: Viad Corp

Price: 20.6 USD

Market: NYSE
Market Cap: $419.22 m

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