Viad Corp (NYSE:VVI) Q1 2020 Earnings Conference Call - Preliminary Transcript

May 14, 2020 • 05:00 pm ET


Viad Corp (NYSE:VVI) Q1 2020 Earnings Conference Call - Preliminary Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Viad Corps first quarter 2020 earnings call. At this time all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Carrie Long Executive Director of Finance Investor Relations. Thank you. Please go ahead.

Carrie Long

Good afternoon. And thank you for joining us for Viad's 2020 first quarter earnings conference call. During the call you'll be hearing from Steve Moster our President and CEO; David Barry, our President of Pursuit and Ellen Ingersoll, our Chief Financial Officer. Certain statements made during the call which are not historical facts may constitute forward looking statements. Information concerning business and other risk factors that could cause actual results to materially differ from those in the forward looking statements can be found in our annual, quarterly and other current reports filed with the SEC.

During the call, we'll be referring to certain non GAAP measures, including loss before their items, adjusted segment EBITDA and adjusted segment operating income or loss. Important disclosures regarding these measures, including reconciliations to net loss attributable to Viad can be found in table two of our earnings press release, which is available on our Now I'd like to turn the call over to Steve.

Steve Moster

Thank you, Carrie. And good afternoon, everyone. Thank you for joining us on today's call. I hope you all are staying safe and healthy. On this afternoon's call, I'll briefly discuss our first quarter business results and our financial position to whether these unprecedented times give you an overview of how we are taking necessary steps to ensure adequate liquidity to provide the company with safe passage through the COVID crisis and resume our trajectory of growth on the other side and provide insight as to what we're seeing that will impact the remaining quarters of 2020.

Following my opening comments, I'll hand the call over to David Barry to discuss our pursuit business. And then I'll come back on to cover the GES business. We will end our prepared remarks with Ellen providing a financial update, including our liquidity position, preliminary financial results, and pending non cash impairment charge. Before turning to the business, I first and foremost, want to commend our team members at Viad for their resiliency, positivity and dedication during these challenging times.

Like many businesses, we've had to make tough decisions by way of employee furloughs and wage reductions in order to protect our financial position in this unprecedented operating environment. Nevertheless, our team members have not missed the beat in acting quickly to help maintain the health and safety of our clients, guests and the communities we operate in as our number one priority for that myself and the entire executive team express our sincere thanks.

Now moving into our business, the first