Financial Data and Key Metrics - Total revenue for Q2 2024 was $136.5 million, a 9% increase compared to Q2 2023 [20] - Lindblad segment tour revenues increased by 6% to $93.1 million, driven by a 4% increase in available guest nights, a 6% increase in net yield per available guest night to $1,094, and an increase in occupancy to 78% from 74% [20] - Land Experience segment revenues grew by 16% to $43.4 million, driven by higher guest counts and pricing across various destinations [21] - Adjusted EBITDA for Q2 2024 was $10.4 million, up $4.2 million year-over-year, with Lindblad segment adjusted EBITDA increasing by $3.9 million and Land Experience segment adjusted EBITDA increasing by $300,000 [22] - Total cash as of June 30, 2024, was $217.7 million, up from $187.3 million at the end of 2023, primarily due to increased bookings for future travel [25] Business Line Performance - Lindblad segment occupancy increased to 78% in Q2 2024, up from 74% in Q2 2023, with each percentage point increase adding $4-5 billion in additional EBITDA annually [6] - Land Experience sector revenue grew by 16% year-over-year, with Natural Habitat bookings up over 20% compared to the same period in 2023 [14] - The company acquired two additional ships for the Galapagos, increasing inventory by 45% and expected to accelerate first-time travelers by 3,000 annually [13] Market Performance - Bookings for future travel were up 17% compared to the same period in 2023, with in-year bookings expanding by 6% [5] - The Middle East conflict impacted the Egypt program and led to the cancellation of two Mediterranean voyages, while instability in mainland Ecuador briefly affected Galapagos voyages [7][20] - The company is launching sales in Great Britain this quarter and plans further expansions into Europe later in 2024 [10] Strategic Direction and Industry Competition - The company is focused on returning to historical occupancy levels by rebuilding its past guest base, which is critical for longer and more esoteric itineraries [6] - A partnership with National Geographic and Disney aims to leverage brand strength, distribution, and execution capabilities to drive growth through at least 2040 [8][9] - The company is updating its consumer brand to "National Geographic Lindblad Expeditions" to increase consumer intent, search efficiency, and conversion, especially in international markets [9] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about 2024, expecting total revenue between $610 million and $630 million and adjusted EBITDA between $88 million and $98 million [27] - External influences, such as geopolitical conflicts and regional instability, are expected to continue impacting operations, but the business model is designed to account for such disruptions [7] - The company is investing in technology to improve efficiency and reduce costs, with recent IT system upgrades already streamlining internal processes and enhancing the guest experience [14][24] Other Important Information - The company added two new board members, Annette Reavis and Andy Stuart, bringing diverse experience in human resources and the cruise industry, respectively [4][5] - The acquisition of Thomson Safaris, focusing on Tanzania, is expected to create synergies with Natural Habitat's East African operations [17] - The company is exploring new charter products, including potential expansion into river cruising, to diversify its offerings [10][48] Q&A Session Summary Question: Confidence in achieving EBITDA guidance for 2024 - The company is confident in achieving its EBITDA guidance due to strong bookings, with 98% of Lindblad segment projected ticket revenues already booked for 2024 [31] - Land business bookings are also strong, with Natural Habitat bookings up 20% year-over-year [31] Question: Progress and impact of the Disney partnership - The partnership with Disney and National Geographic is progressing well, with significant collaboration expected to drive growth starting in 2025 [33][35] - The company is leveraging Disney's distribution capabilities and National Geographic's brand strength to expand its reach and attract new travelers [34][38] Question: Impact of new Galapagos ships on market share and pricing - The acquisition of two additional ships in the Galapagos increases the company's inventory by 45% and is expected to attract first-time guests, with conservative occupancy assumptions for 2025 [42] - The company holds a significant market share in the Galapagos, with 206 beds out of approximately 600 total beds in the region [45] Question: Potential expansion into river cruising - The company is considering expanding its river cruising offerings on a charter basis, leveraging its existing expertise in river-based expeditions [48] - Chartering ships allows the company to test new markets without committing to long-term ownership [49] Question: Long-term margin profile and operating leverage - The company aims to return to historical occupancy levels and improve efficiency, which should provide significant operating leverage and margin expansion in the coming years [50] - The mix of land versus marine businesses will influence the overall margin profile, with land businesses typically carrying different margin structures [50]

Lindblad Expeditions (LIND) came out with a quarterly loss of $0.48 per share versus the Zacks Consensus Estimate of a loss of $0.24. This compares to loss of $0.48 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced a loss of $0.10, delivering a surprise of -150%. Over the last four quarters, the company has sur ...

Second Quarter 2024 Highlights: Total revenues increased 9% to $136.5 million Net loss available to stockholders increased $0.3 million Adjusted EBITDA increased $4.2 million to $10.4 million Lindblad segment Available Guest Nights increased 4% Net Yield per Available Guest Night increased 6% to $1,094 and Occupancy was 78% Bookings to date for future travel increased 17% vs the same period in 2023 and in-year bookings expanded to 6% over the same point in 2023 and over 29% excluding carryover bookings Anno ...

About Lindblad Expeditions Holdings, Inc.: Lindblad Expeditions Holdings, Inc. is an expedition travel company that focuses on ship-based voyages through its Lindblad Expeditions brand and land-based travel through its subsidiaries, Natural Habitat, Inc. ("Natural Habitat"), Off the Beaten Path LLC ("Off the Beaten Path"), DuVine Cycling + Adventure Co. ("DuVine") and Classic Journeys, LLC ("Classic Journeys"). Off the Beaten Path is an outdoor, active travel company offering guided small group adventures a ...

The summer travel boom has extended to the high seas, and several cruise stocks to buy now are sailing higher on investors' radars. After a slow post-pandemic recovery, travel numbers have peaked at an all-time high. The Transportation Security Administration (TSA) screened a record 3 million passengers in a single day earlier this month. This revival in travel demand is felt across the board, with cruise companies experiencing a strong comeback this year. The number of cruise line passengers jumped from 20 ...

NEW YORK, July 18, 2024 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad Expeditions"), recognized global leader of adventure travel and the pioneer of modern expedition cruising, today announced that its Board of Directors has appointed Annette Reavis, innovative people leader, and Andrew "Andy" Stuart, celebrated cruise industry executive, as two new independent directors. With these appointments, the Lindblad Expeditions Board will increase from 10 to 11 direc ...

Lindblad Expeditions Holdings, Inc. (LIND) , a global leader in adventure travel and pioneer of modern expedition cruising, announced a significant expansion in its core Galápagos market. The company is set to add two purpose-built Galápagos expedition vessels to its fleet, enhancing its capacity to deliver immersive, responsible exploration experiences. Sven-Olof Lindblad, founder and CEO of Lindblad Expeditions, emphasized the privilege and responsibility of operating in the Galápagos Islands. The new ves ...

Lindblad Expeditions is the Longest-Standing International Operator in the Galápagos, Since Pioneering Expedition Cruising in the Region Together with Legendary Ecuadorian Eduardo Proaño in 1967 The first of the two new ships is a 48-guest configuration and features two unique dining venues and 24 outward-facing cabins, including 13 balcony suites. Later this month, bookings will open for sale and the names of the two ships will be revealed. The second vessel is a 16-guest, eight-cabin catamaran perfect for ...

LINDBLAD EXPEDITIONS HOLDINGS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35898 (Exact name of registrant as specified in its charter) | Delaware | 27-4749725 | | --- | --- | | (St ...

Lindblad Expeditions (LIND) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -150%. A quarter ago, it was expected that this company would post a loss of $0.30 per share when it actually produced a loss of $0.53, delivering a surprise of -76.67%.Over the last four quarters, the company has sur ...