logo-loader
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

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]

Quick facts: Viad Corp

Price: 20.6 USD

NYSE:VVI
Market: NYSE
Market Cap: $419.22 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: CUI Global posts revenue growth and continues transformation...

CUI Global Inc (NASDAQ:CUI) Executive Chairman and General Counsel Bill Clough tells Proactive the Houston-based company spent 2019 laying the groundwork to become a diversified energy infrastructure company, boosted by the acquisition of renewable energy engineering firm Reach Construction...

22 minutes ago

2 min read