Core Insights - Viking Holdings reported strong Q3 2025 results, with earnings of $1.20 per share exceeding estimates and showing year-over-year improvement [2] - Total revenues reached $1.99 billion, surpassing estimates by 0.1% and increasing by 19.1% year-over-year, driven by higher Capacity Passenger Cruise Days, occupancy, and revenue per PCD [3] - Adjusted EBITDA grew by 26.9% year-over-year to $703.5 million, supported by the same factors contributing to revenue growth [3] Financial Performance - Capacity Passenger Cruise Days increased by 11% year-over-year due to fleet expansion, which included four additional river vessels and two ocean ships [4] - Occupancy for Q3 2025 was reported at 96% [4] - Vessel operating expenses rose by 19.1% year-over-year, with expenses excluding fuel increasing by 21.7% due to fleet size growth [5] Cash Position - As of September 30, 2025, Viking Holdings had $3.03 billion in cash and cash equivalents, up from $2.6 billion in the previous quarter [6] - The company's net debt decreased to $2.75 billion from $3.22 billion in the prior quarter [6] Market Position and Outlook - Viking Holdings has a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [10] - The company has a strong Growth Score of A but is lagging in Momentum and Value Scores, which are C [8] Industry Comparison - Viking operates within the Leisure and Recreation Services industry, where competitor Planet Fitness reported revenues of $330.35 million, reflecting a 13% year-over-year increase [11] - Planet Fitness is expected to post earnings of $0.77 per share for the current quarter, indicating a 10% year-over-year change [12]

Core Insights - Norwegian Cruise Line (NCLH) reported revenue of $2.52 billion for the quarter ended June 2025, reflecting a 6.1% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $0.51, up from $0.40 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $2.56 billion, resulting in a surprise of -1.55% [1] - EPS also missed the consensus estimate of $0.52, with a surprise of -1.92% [1] Performance Metrics - Passenger Cruise Days totaled 6,288.80 KDays, exceeding the average estimate of 6,253.23 KDays [4] - Capacity Days were reported at 6,052.27 KDays, slightly below the average estimate of 6,059.58 KDays [4] - Net Yield was $304.34, marginally above the average estimate of $304.22 [4] - Occupancy percentage reached 103.9%, surpassing the estimated 103.2% [4] - Fuel price per metric ton was $659.00, lower than the estimated $676.24 [4] - Net Cruise Cost per Capacity Day was $194.04, better than the average estimate of $197.17 [4] - Total Passengers carried amounted to 738,635, exceeding the average estimate of 729,271 [4] - Revenue from onboard and other sources was $808.51 million, below the average estimate of $838.93 million, but showed a year-over-year increase of 4.9% [4] - Revenue from passenger tickets was $1.71 billion, slightly below the average estimate of $1.72 billion, with a year-over-year increase of 6.7% [4] Stock Performance - Shares of Norwegian Cruise Line have returned +9.5% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]