Lindblad Expeditions Fourth Quarter Results

In the fourth quarter, Lindblad Expeditions reported a rise in revenue due to strong demand for its unique expedition-style cruises.

Financial Details

The cruise and tour operator disclosed a fourth-quarter loss of $27.4 million, or 53 cents per share. This is an improvement compared to the loss of $32.2 million, or 63 cents a share, from the same period the previous year. However, analysts had anticipated a loss of 28 cents per share.

Despite slightly missing analysts’ expectations, revenue saw a 6% increase to $125.4 million, only slightly below the projected $127.2 million.

Brand Performance

Within the Lindblad brand itself, the company has been focused on expanding capacity. The available guest nights surged by 18% in the quarter, although occupancy rates dipped to 70% from 76% year-over-year. This decrease was partially attributed to transit voyages.

Revenue in the Lindblad segment was up by 7% during the quarter, while the smaller land-experiences business saw a 5% increase in sales.

Future Projections

Looking ahead to 2024, Lindblad Expeditions aims to achieve revenue of $610 million to $630 million. This forecast falls slightly below analysts’ expectations of $626 million.