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Investing.com -- Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) saw its shares surge 10.8% premarket after reporting second quarter financial results that exceeded analyst expectations, driven by strong occupancy rates and higher pricing.
The expedition cruise operator reported a second quarter loss of -$0.18 per share, beating analyst estimates of -$0.28 per share. Revenue jumped 23% YoY to $167.9 million, surpassing the consensus estimate of $159.18 million. The company also achieved an 86% occupancy rate, up from 78% in the same quarter last year.
The strong quarterly performance was fueled by a 13% increase in net yield per available guest night to $1,241 in the Lindblad segment, while the Land Experiences segment saw revenue growth of 31% compared to the previous year. Adjusted EBITDA more than doubled, increasing 139% to $24.8 million.
"I’m incredibly proud of the team’s accomplishments this quarter. We delivered 23% revenue growth, achieved 86% occupancy on a 5% increase in capacity, and drove a 139% increase in Adjusted EBITDA," said Natalya Leahy, Chief Executive Officer. "These results reflect strong momentum behind our strategic initiatives."
The company’s net loss available to stockholders improved by $16.1 million to $9.7 million compared to a loss of $25.8 million in the second quarter of 2024.
Looking ahead, Lindblad provided full-year 2025 guidance with expected revenue between $725 million and $750 million, in line with analyst consensus of $739.8 million. The company also projects adjusted EBITDA of $108 million to $115 million for the year.
As of June 30, 2025, Lindblad reported cash and cash equivalents of $247.3 million, up from $216.1 million at the end of 2024, reflecting $77.6 million in cash from operations primarily due to increased bookings for future travel.
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