Viad Earnings: Here’s Why the Stock is Up Now
Viad Corp (NYSE:VVI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.49%.
Viad Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 250% to $0.42 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 6.11% to $285.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Viad Corp reported adjusted EPS income of $0.42 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $274.9 million.
Quoting Management: Paul B. Dykstra, chairman, president and chief executive officer, said, “Viad is off to a very good start in 2013. Consolidated revenue for the quarter was up $16.4 million and segment operating income for the quarter more than doubled to $12.8 million as compared to the first quarter of 2012. Marketing & Events Group revenue increased 5.6 percent with a 250 basis point increase in segment operating margins versus the comparable quarter last year. Travel & Recreation Group revenue increased 25 percent to $8.4 million as compared to the first quarter of 2012. For the quarter, we delivered strong financial results and a great customer experience, while also driving operational efficiencies and improved margins.”
Key Stats (on next page)…