Loading...
•
Sep 30, 2025
Lindblad Expeditions Q3 2025 Earnings Report
Estimated Revenue:$230M
+18.4% YoY
Estimated EPS:$0.22
+24.6% YoY
Key Takeaways
Lindblad Expeditions delivered a strong third quarter in 2025, with overall corporate revenue increasing by 17% to $240.2 million and achieving a new record level of adjusted EBITDA of $57.3 million. Both the Lindblad and Land Experiences segments contributed significantly to this growth. Despite a net loss available to stockholders of $49 thousand, primarily due to debt refinancing expenses, the company improved its operating results and strengthened its financial position through a successful debt refinancing.
Total tour revenues increased by 17% to $240.2 million in Q3 2025 compared to the same period in 2024.
Adjusted EBITDA reached a record $57.3 million, an increase of $11.4 million or 25% year-over-year.
The company reported a net loss available to stockholders of $49 thousand, primarily impacted by $23.5 million in debt refinancing expenses.
Lindblad successfully refinanced its long-term debt, extending maturity and reducing borrowing rates, enhancing financial flexibility for future growth.
Revenue by Segment
Forward Guidance
For the full year 2025, Lindblad Expeditions anticipates Adjusted EBITDA to be between $119 million and $123 million. The company expects continued strong operating performance and benefits from its recent debt refinancing.
Positive Outlook
- Anticipated Adjusted EBITDA for full year 2025 is projected to be between $119 million and $123 million.
- Debt refinancing extended the Company's weighted average debt maturity profile by several years.
- Reduced blended borrowing rate by approximately 75 basis points compared to the prior structure.
- Simplified capital structure and enhanced financial flexibility to support strategic growth initiatives.
- S&P Global upgraded the Company's corporate credit rating, citing strong operating performance and forward-booked position.
Challenges Ahead
- A reconciliation of net income to Adjusted EBITDA guidance is not provided due to the inability to estimate certain discrete tax items with reasonable certainty.
- Net loss available to stockholders for Q3 2025 was impacted by significant debt refinancing expenses.
Loading...
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...