Earnings: Viad’s Revenue, Earnings Beat Forecasts in Q2
![Wall Street](/sites/default/files/styles/large_480x480_without_webp/public/wall%20street%20photo%20main%20image.jpg?itok=Z33x4HyS)
Viad, a global provider of exhibition services and experiential marketing, reported strong Q2 results that exceed prior guidance. The parent company of global exhibition and trade show management company GES and global brand experience agency Spiro reported that GES revenues increased 19.6% year-over-year, primarily due to new client wins and continued underlying growth.
For Q2 that ended June 30, GES show performance and client spend remain strong, raising the company’s full year outlook, according to a release by Viad.
Here’s a deeper dive into the company’s financial performance.
![moster](/sites/default/files/inline-images/Copy%20of%20steve%20moster.jpeg)
What they are saying: “We delivered very strong second quarter results that exceeded our expectations,” said Viad President and CEO Steve Moster. “Both Pursuit (a division of Viad) and GES have seen significant demand for our extraordinary experiences and achieved remarkable results. GES continues to deliver solid profitable growth primarily from stronger high-margin corporate client spending and disciplined cost management.”
By the numbers: Viad reported revenues of $378.5 million in Q2, an increase of $58.2 million or 18.2% from Q2 2023. GES revenue of $277.3 million represented an increase of $45.5 million year-over-year. GES adjusted EBITDA of $44.4 million increased $17.6 million year-over-year primarily driven by higher revenue and significant margin expansion.
Related: Earnings: GES and Spiro Report Year-Over-Year Revenue Growth in Q1
Context: In Q2, GES produced a number of corporate events, association exhibitions, and independent trade shows, including the California Dental Association in May in Anaheim, the American Psychiatric Association in May in New York, the Association of Institutional Research in May in Denver, and the American Urological Association in May in San Antonio.
![APA show](/sites/default/files/inline-images/APA%20show%20by%20GES.jpeg)
Looking ahead: “Given our stronger than expected performance during the first half of 2024 and the favorable underlying demand trends we are seeing, we were prepared to raise our full year guidance. For GES, we are raising our full year Adjusted EBITDA guidance range by $5 million,” Moster said.
![](/sites/default/files/styles/partner_voices/public/screenshot_2024-07-22_100819.png.webp?itok=q57xl5Rk)
Add new comment