Viad Corp. Q3 Profit Down, But Tops Estimates

(RTTNews) - Viad Corp (VVI), a provider of marketing, travel and recreational services, said its net income attributable to company slid to $11.85 million or $0.58 a share from last year's $19.98 million or $0.99 a share. The results for the recent quarter included a gain from discontinued operations of $0.05 per share.

Viad's income before other items was $14.1 million or $0.69 per share, which excluded restructuring charges of $0.02 per share and non-cash impairment charges of $0.14 per share. On average, three analysts polled by Thomson Reuters expected earnings per share of $0.61 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue for the third quarter amounted to $236.5 million, lower than last year's $307.5 million, but higher than the $234.61 million revenue consensus estimate.

For the fourth quarter, Viad said it expects loss per share in the range of $0.25 - $0.16, on revenues of $188 million - $200 million. The Street currently sees loss per share of $0.11, on revenues of $200.79 million.