Press release
Lindblad Expeditions Holdings, Inc. Reports 2024 Second Quarter Financial Results
Second Quarter 2024 Highlights: Total revenues increased 9% to $136.5 million Net loss available to stockholders increased $0.3 million Adjusted EBITDA
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"Second Quarter 2024 Highlights:\nTotal 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 Announced an agreement for the acquisition of two vessels to expand core Galápagos market Further expanded land-based portfolio with the closing of the acquisition of Wineland-Thompson AdventuresNEW YORK, Aug. 8, 2024 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the \"Company\" or \"Lindblad\"), a global provider of expedition cruises and adventure travel experiences, today reported financial results for the second quarter ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nSven Lindblad, Chief Executive Officer, said \"We continued our growth trajectory this quarter with a 9% increase in revenue, demonstrating that more and more people are keen to explore the less traveled destinations and appreciate our dedication to providing our guests unique and valuable travel experiences.\nWe are focused on maximizing the value of our fleet, by continually increasing occupancy and yield, while also implementing initial phases of efficiency improvement in our operations across the company. We continue to be disciplined in our capital allocation as we seek to reduce our leverage. To further our continued growth efforts, we expanded our portfolio of successful land companies with the acquisition of Thomson Safaris, and a commitment to acquire two more ships in our core Galapagos market. This was a rare opportunity to expand our fleet in the limited license Galapagos environment while at the same time eliminating two ships that competed with us.\"\nSECOND QUARTER RESULTS\nTour Revenues\nSecond quarter tour revenues of $136.5 million increased $11.7 million, or 9%, as compared to the same period in 2023. The increase was driven by a $5.6 million increase at the Lindblad segment and a $6.1 million increase at the Land Experiences segment.\nLindblad segment tour revenues of $93.1 million increased $5.6 million, or 6%, compared to...