Company Performance - Viking Holdings (VIK) reported a loss of 24 cents per share in Q1 2025, which was better than the Zacks Consensus Estimate of a loss of 26 cents per share, compared to a loss of 3 cents per share in Q1 2024 [1] - Total revenues reached $897.1 million, exceeding the Zacks Consensus Estimate by 4.49% and showing a year-over-year increase of 24.9%, driven by increased Capacity Passenger Cruise Days (PCDs) and higher revenue per PCD [1] - Adjusted EBITDA for the quarter was $72.8 million, an increase of $77.3 million from Q1 2024, attributed to the growth in capacity of PCDs and higher revenue per PCD [2] Capacity and Demand - Capacity PCDs improved by 14.9% year-over-year due to the addition of two new river vessels and a new ocean ship delivered in 2024 [2] - The company experienced a 7.1% growth in Net Yield, indicating strong demand for travel experiences among its core demographic, with 92% of capacity already booked for the 2025 season [3] Financial Health - As of March 31, 2025, VIK had $2.8 billion in cash and cash equivalents, along with an undrawn revolver facility of $375 million, while the company's net debt stood at $2.9 billion [4] - Vessel operating expenses increased by 10.2% year-over-year, with expenses excluding fuel rising by 12.2%, reflecting the growth in fleet size [3] Industry Context - Norwegian Cruise Line Holdings Ltd. (NCLH) reported Q1 2025 results that missed the Zacks Consensus Estimate, with both earnings and revenues declining year-over-year [6] - Caesars Entertainment, Inc. (CZR) had mixed results in Q1 2025, with earnings missing estimates but revenues surpassing them, showing year-over-year improvement [8]
Viking Q1 Loss Narrower-Than-Expected, Revenues Beat Estimates