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Sep 30, 2020
Lindblad Expeditions Q3 2020 Earnings Report
Lindblad Expeditions reported a net loss due to the suspension of the majority of its expeditions as a result of the COVID-19 pandemic.
Key Takeaways
Lindblad Expeditions Holdings, Inc. reported financial results for the quarter ended September 30, 2020. The company has suspended or rescheduled the majority of its expeditions departing March 16, 2020 through December 31, 2020 and has rescheduled its 2020-2021 Antarctica season due to the COVID-19 pandemic. The company ended the quarter with $129.6 million in unrestricted cash and $16.5 million in restricted cash.
Implemented significant cost reduction measures to further increase liquidity profile.
Ended the quarter with $129.6 million in unrestricted cash and $16.5 million in restricted cash.
Cash usage is approximately $10-15 million monthly excluding the impact of guest payments and refunds.
Lindblad segment bookings for travel in 2020 are now 74% below the same point a year ago for 2019 due primarily to the cancelled and rescheduled voyages.
Revenue by Segment
Forward Guidance
Given the continued uncertainty around the COVID-19 pandemic, the Company is not providing a full year outlook regarding results of operations at this time and will update our expectations when we have more clarity around the timing of and extent of future operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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