Cruise operator Lindblad posts higher Q2 revenue, smaller loss on increased pricing, occupancy rates
Overview
Lindblad Q2 2025 rev rises 23% yr/yr, driven by higher pricing and occupancy
Net loss improves by $16.1 mln to $9.7 mln, aided by tax credits
Adjusted EBITDA jumps 139% to $24.8 mln, reflecting strong segment performance
Outlook
Company expects 2025 tour revenues of $725 - $750 mln
Lindblad forecasts 2025 adjusted EBITDA of $108 - $115 mln
Result Drivers
HIGHER PRICING - Lindblad segment tour revenues increased due to higher pricing and occupancy rates
ADDITIONAL TRIPS - Land Experiences segment revenue growth driven by operating additional trips and higher pricing
TAX CREDITS - Net loss improvement aided by employee retention tax credits
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Tour Revenue | $167.94 mln | ||
Q2 Net Income | -$9.70 mln | ||
Q2 Adjusted EBITDA | $24.84 mln | ||
Q2 Operating Income | $4.41 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the hotels, motels & cruise lines peer group is "buy"
Wall Street's median 12-month price target for Lindblad Expeditions Holdings Inc is $16.00, about 26.7% above its August 1 closing price of $11.73
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