VIAD CORP Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>VIAD CORP filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial performance and operational segments.</b>

AI Summary

VIAD CORP (PRSU) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. VIAD CORP filed a 10-Q report for the period ending March 31, 2024. The filing references financial data and operational segments including GES Exhibitions and Pursuit. Key dates mentioned include March 31, 2024, and March 31, 2023, for comparative financial reporting. The report details various financial instruments and liabilities, such as revolving credit facilities and operating lease liabilities. VIAD CORP, formerly known as DIAL CORP, is incorporated in Delaware and operates in the business services sector.

Why It Matters

For investors and stakeholders tracking VIAD CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for VIAD CORP, crucial for assessing the company's current health and future prospects. The detailed financial information, including segment performance and debt obligations, allows for a comprehensive understanding of the company's operational and financial standing.

Risk Assessment

Risk Level: medium — VIAD CORP shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting rather than an immediate crisis, but the complexity of financial instruments and segment reporting suggests a medium level of risk in fully interpreting the data without deeper analysis.

Analyst Insight

Investors should review the detailed segment performance and financial instrument disclosures within the 10-Q to understand VIAD CORP's operational and financial health.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 7389 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• VIAD CORP (company) — FILER
• DIAL CORP (company) — FORMER COMPANY
• DE (jurisdiction) — STATE OF INCORPORATION
• 7000 E. 1ST AVENUE (address) — BUSINESS ADDRESS STREET 1
• SCOTTSDALE (city) — BUSINESS ADDRESS CITY
• AZ (state) — BUSINESS ADDRESS STATE
• 85251 (zip_code) — BUSINESS ADDRESS ZIP
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT

FAQ

Risk Factors

• Financial Instruments and Fair Value Measurements [medium — financial]: The company utilizes various financial instruments, including interest rate caps, and reports on fair value measurements, indicating potential exposure to market fluctuations.
• Segment Performance [medium — operational]: The filing details performance across different operating segments like GES Exhibitions and Pursuit, suggesting that the overall company performance is dependent on the success of these individual units.
• Debt and Credit Facilities [medium — financial]: VIAD CORP references revolving credit facilities and long-term debt obligations, indicating leverage and associated interest rate risks.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive overview of a company's financial performance. (This filing provides the most recent quarterly financial data for VIAD CORP.)

Key Financial Figures

• $1.50 — nge on which registered Common Stock, $1.50 Par Value VVI New York Stock Exchan

Filing Documents

• vvi-20240331.htm (10-Q) — 2984KB
• vvi-ex10_2.htm (EX-10.2) — 102KB
• vvi-ex31_1.htm (EX-31.1) — 10KB
• vvi-ex31_2.htm (EX-31.2) — 10KB
• vvi-ex32_1.htm (EX-32.1) — 12KB
• img215946309_0.jpg (GRAPHIC) — 11KB
• 0000950170-24-052502.txt (&nbsp;) — 15382KB
• vvi-20240331.xsd (EX-101.SCH) — 2290KB
• vvi-20240331_htm.xml (XML) — 3212KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity and Mezzanine Equity for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 40 In this report, for periods presented, "we," "us," "our," "the Company," and "Viad Corp" refer to Viad Corp and its subsidiaries.

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements VIAD CORP CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) March 31, December 31, (in thousands, except share data) 2024 2023 Assets Current assets Cash and cash equivalents $ 48,799 $ 52,704 Accounts receivable, net of allowances of $ 2,880 and $ 2,901 , respectively 151,105 128,019 Inventories 10,454 10,153 Current contract costs 35,398 20,202 Prepaid insurance 13,918 2,925 Other current assets 23,846 21,774 Total current assets 283,520 235,777 Property and equipment, net 593,703 592,891 Other investments and assets 18,079 17,047 Operating lease right-of-use assets 107,546 109,774 Deferred income taxes 1,668 1,930 Goodwill 121,654 123,906 Other intangible assets, net 54,130 55,997 Total Assets $ 1,180,300 $ 1,137,322 Liabilities, Mezzanine Equity, and Stockholders' Equity Current liabilities Accounts payable $ 100,180 $ 77,405 Contract liabilities 82,248 52,980 Accrued compensation 20,385 31,309 Operating lease obligations 17,762 17,334 Other current liabilities 54,570 42,397 Current portion of debt and finance obligations 17,126 8,371 Total current liabilities 292,271 229,796 Long-term debt and finance obligations 462,490 444,304 Pension and postretirement benefits 16,233 16,457 Long-term operating lease obligations 103,855 106,109 Other deferred items and liabilities 69,346 70,711 Total liabilities 944,195 867,377 Commitments and contingencies Convertible Series A Preferred Stock, $ 0.01 par value, 180,000 shares authorized, 135,000 shares issued and outstanding 132,591 132,591 Redeemable noncontrolling interest 4,423 4,733 Stockholders' equity Viad Corp stockholders' equity: Common stock, $ 1.50 par value, 200,000,000 shares authorized, 24,934,981 shares issued and outstanding 37,402 37,402 Additional capital 56

View Full Filing

View this 10-Q filing on SEC EDGAR