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Jun 30, 2020
Lindblad Expeditions Q2 2020 Earnings Report
Reported financial results for the quarter ended June 30, 2020.
Key Takeaways
Lindblad Expeditions Holdings, Inc. reported a challenging second quarter in 2020 due to the COVID-19 pandemic, which led to the suspension or rescheduling of the majority of its expeditions. The company implemented cost reduction measures to increase liquidity and amended credit agreements to defer payments and suspend financial covenants. The company is not providing full year outlook.
Implemented significant cost reduction measures to further increase liquidity profile.
Ended the quarter with $80.9 million in unrestricted cash and $21.3 million in restricted cash.
Amended export credit agreements, deferring $9.0 million in principal payments and suspending financial covenants.
Following the quarter, amended term loan and revolving credit facilities to suspend leverage covenants.
Forward Guidance
Given the uncertain impact from the COVID-19 virus, the Company has withdrawn its previous full year guidance. The COVID-19 outbreak has had, and will continue to have, a significant impact on the Company’s financial position and results of operation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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