Viad Q2 Profit Up - Quick Facts

(RTTNews) - Event manager Viad Corp. (VVI) Friday reported a rise in net earnings as well as revenues for the second quarter, helped by higher base same-show revenue, new business wins and favorable show rotation.

The company defines base same-show revenue as revenue from shows produced out of the same city during the same quarter each year. Viad posted a 4.9 percent increase in second-quarter base same-show revenue.

For the three months to June, net earnings grew to $6.74 million or $0.33 per share, from $6.25 million or $0.31 per share a year earlier.

Excluding certain items, earnings totaled $8.9 million or $0.44 per share, compared with $7.04 million or $0.35 per share a year ago.

On average, three analysts polled by Thomson-Reuters estimated the company's earnings to be $0.37 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA stood at $18.08 million, compared with $16.95 million in the same period last year.

Quarterly revenues grew by 4.1 percent to $256.39 million from $246.18 million a year earlier. Analysts expected revenues of $245.99 million.

Looking ahead, the company expects third-quarter earnings of $0.91 to $1.01 on revenues of $285 million to $300 million.

Analysts expect third-quarter earnings of $1.08 on revenues of $296.71 million.