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Mar 31, 2023
Lindblad Expeditions Q1 2023 Earnings Report
Lindblad Expeditions reported financial results with increased revenue and improved profitability compared to the previous year and 2019.
Key Takeaways
Lindblad Expeditions Holdings, Inc. reported a strong start to 2023, with significant increases in revenue and Adjusted EBITDA compared to 2022 and 2019. The company's strategic investments in capacity expansion and product diversification are driving strong results, with bookings for future travel significantly ahead of 2019 levels.
Total revenue of $143.4 million, increased significantly compared to 2022 and 2019.
Net loss available to stockholders improved substantially versus 2022.
Adjusted EBITDA increased considerably compared to 2022 and 2019.
Lindblad segment Net Yield per Available Guest Night increased significantly compared to 2022 and 2019.
Revenue by Segment
Forward Guidance
The Company’s current expectations for the full year 2023 are as follows: Tour revenues of $550 - $575 million and Adjusted EBITDA of $70 - $80 million
Positive Outlook
- Tour revenues of $550 - $575 million
- Adjusted EBITDA of $70 - $80 million
- Substantial advance reservations for future travel
- Strong gross bookings
- Lindblad segment bookings for travel during 2023 have increased 45% as compared with bookings for 2019
Challenges Ahead
- Short-term cancellations
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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