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.
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]