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Dec 31, 2020
Lindblad Expeditions Q4 2020 Earnings Report
Reported fourth quarter and full year financial results and announced acquisitions of DuVine Cycling + Adventure Co. and Off the Beaten Path LLC.
Key Takeaways
Lindblad Expeditions Holdings, Inc. reported financial results for the fourth quarter and full year ended December 31, 2020, and announced the acquisitions of DuVine Cycling + Adventure Co. and Off the Beaten Path LLC. The company has suspended or rescheduled the majority of its expeditions departing March 16, 2020 through May 31, 2021 due to COVID-19.
Implemented significant cost reduction measures reducing monthly cash usage to approximately $10-15 million.
Acquired 70% of DuVine, a leading luxury cycling and adventure travel company, and 80.1% of Off the Beaten Path, a leading active travel operator with a specialization in U.S. National Parks.
Bookings for the second half of 2021 are in-line with bookings for the same period in 2020 as of the same date a year ago and 31% ahead of bookings for the back half of 2019 as of the same date two years ago.
Bookings for the full year 2022 are 37% ahead of the bookings for 2021 as of the same date a year ago.
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 its expectations when it has 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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