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

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
Garden Route
June 19 2019
The luxury travel specialises in bespoke holidays and holds over 3,500 hotel and agency contracts around the world
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