Lindblad Expeditions (US:LIND) Prnewswire·2024-08-08 11:30Financial Performance - Total revenues for the second quarter of 2024 increased by 9% to $136.5 million compared to the same period in 2023, driven by growth in both the Lindblad and Land Experiences segments [4][5]. - The net loss available to stockholders for the second quarter was $25.8 million, slightly higher than the $25.6 million loss in the same quarter of 2023 [7][29]. - Adjusted EBITDA rose by $4.2 million to $10.4 million, reflecting improved performance in both segments [8][10]. Segment Performance - Lindblad segment tour revenues increased by 6% to $93.1 million, attributed to a 4% rise in available guest nights and a 6% increase in net yield per available guest night to $1,094 [5][29]. - Land Experiences segment tour revenues surged by 16% to $43.4 million, primarily due to an increase in guests and higher pricing [6][29]. Operational Metrics - Available Guest Nights in the Lindblad segment increased by 4%, with occupancy rates rising to 78% from 74% year-over-year [5][39]. - Bookings for future travel increased by 17% compared to the same period in 2023, with in-year bookings expanding by 6% [4][12]. Strategic Initiatives - The company announced the acquisition of two vessels to enhance its core Galápagos market, with the first ship expected to begin operations in February 2025 [14]. - The acquisition of Wineland-Thompson Adventures was completed to expand the land-based portfolio, with a total purchase price of $30 million [15]. Balance Sheet and Liquidity - As of June 30, 2024, the company had cash and cash equivalents of $217.7 million, up from $187.3 million at the end of 2023, primarily due to increased bookings [12]. - The total debt position was reported at $635.1 million, with compliance to all applicable debt covenants [13]. Financial Outlook - The company projects full-year 2024 tour revenues to be between $610 million and $630 million, with Adjusted EBITDA expected to range from $88 million to $98 million [16].