Global Experience Specialists Scores 3.9 Percent Same-show Growth in Recent Q1 2014 Earnings Report
Steve Moster, president of Global Experience Specialists, and his team had cause to celebrate with the latest earnings report, which posted an uptick in revenues, operating income and same-show growth in their division for the first quarter of this year.
Moster said the 3.9 percent uptick in same-show growth “bodes well” for the overall industry, as shows continue to climb back to pre-recession levels.
Q1 revenues for GES in the United States were $221.4 million, compared with $218.3 million in the same quarter last year. Operating income also rose to $15.9 million, from $14.1 million in the first quarter of 2013.
Viad, GES’ parent company, posted first quarter revenues for the entire company that were slightly higher, $285.6 million,compared with $285.2 million in 2013.
“It was a great quarter, and I want to thank the team for everything they did,” Moster said.
Even better news was, even with the loss of International CES in the first quarter, the growth numbers by GES’ other significant shows, including CONEXPO/CON-AGG and IFPE, more than made up for it.
“During the quarter, we produced the largest tradeshow in North America, CONEXPO/CON-AGG and IFPE, which set new records for both exhibit space and number of exhibitors,” said Paul Dykstra, Viad chairman, president and CEO.
Moster said the growth was coming from two areas; organic growth, in which shows are just getting bigger, as well as selling more new products and services.
One of those services is audiovisual, which GES brought in house and has seen a good business from.
The rest of the year also looks good for GES, with positive show rotation in the next three quarters expected to top $65 million. The third quarter in particular is on tap to be a strong one, with the International Manufacturing Technology Show opening in Chicago in September.
“We’re excited about that event as well,” Moster said.
GES also had some significant renewals recently, with the True Value Spring and Fall Markets and Chicago Auto Show, and new wins, including SIBOS 2014 and international business with UBM in Germany and France.
“We’re had some great wins, and we’ve had some great renewals,” Moster said. “What we’re most excited about is our future growth prospects crossing the (annual revenue) $1 billion mark for the business.”