NASDAQ$LIND

Lindblad Expeditions Holdings Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Lindblad Expeditions reported a record third quarter with strong operating results across both fleet and expanded land experiences portfolio.

Lindblad Expeditions Holdings, Inc. reported a strong third quarter in 2024, with a 17% increase in total revenues to $206.0 million. Net income available to stockholders increased by $16.8 million, and Adjusted EBITDA increased by 35% to $45.8 million. The company also expanded its land-based portfolio with the acquisition of Wineland-Thompson Adventures.

  • Total revenues increased 17% to $206.0 million.
  • Net income available to stockholders increased $16.8 million.
  • Adjusted EBITDA increased 35% to $45.8 million.
  • Bookings to date for future travel increased 26% vs the same period in 2023.

Headline financials

Total Revenue

$206M

Previous: $176M+17.1%
EPS

$0.36

Previous: $0.08+350.0%
Adjusted EBITDA

$45.8M

Previous: $34M+34.7%
Occupancy

82.0%

Previous: 81.0%+1.2%
Net yield per AGN

$1.21K

Previous: $1.11K+8.6%
Guest nights sold

74.8K

No prior period
Available guest nights

91.3K

No prior period
Maximum guests

11.2K

No prior period
Number of guests

9.4K

No prior period
Voyages

137

No prior period
Capital Expenditures

-$23.6M

Previous: -$22.7M-4.1%
Free Cash Flow

-$1.13M

Previous: -$17.1M+93.4%
Net Income

$22.5M

Previous: $5.64M+299.3%
Operating Income

$29.5M

Previous: $20.5M+44.0%
Gross Profit

$102M

Previous: $80.4M+26.3%
Cash & Equivalents

$194M

Previous: $168M+15.4%
Total Assets

$890M

Previous: $852M+4.5%
Stock-Based Comp

$2.53M

Previous: $2.95M-14.4%

Revenue & EPS history

Lindblad Expeditions · Revenue · Quarterly

$206M

Q3 2024+17.1%vs Q3 2023
Beat estimate in 15 of 15 quarters(100%)
ActualEstimate

Revenue by segment

Lindblad Expeditions · $176M total across 2 segments · Q3 2023

  • Lindblad segment
    $109M-3.1%
  • Land Experiences
    $67.2M+106.8%

Forward guidance

The Company’s current expectations for the full year 2024 are as follows: Tour revenues of $610 - $630 million and Adjusted EBITDA of $88 - $98 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2024

Historical avgQ3 2024

+2.2%

Avg return

Earnings day

+3.2%

Avg return

5 days after

+5.1%

Avg return

30 days after

57%

25 / 44 earnings

Positive

+40.5%

Q3 2024

Best reaction

-13.7%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+14.9%+18.4%+24.4%
Q4 2025-2.4%-8.3%-18.7%
Q3 2025+2.1%-0.6%-1.9%
Q1 2025+9.0%+14.5%+19.7%
Q4 2024-1.3%-3.2%-14.5%
Q3 2024+40.5%+48.2%+43.4%
Q2 2024-0.7%-4.2%+22.6%
Q1 2024+1.4%+0.5%+4.9%
Q4 2023-3.5%-9.6%-2.9%
Q3 2023+13.9%+15.8%+40.9%
Q2 2023+13.7%+11.2%-6.0%
Q1 2023-2.0%-2.8%-10.4%
Q4 2022-13.7%-3.7%-12.9%
Q3 2022+27.3%+29.0%+9.6%
Q2 2022+4.3%+7.6%-2.2%
Q1 2022-8.5%-15.1%-4.3%
Q4 2021-13.2%-0.5%-15.8%
Q3 2021+6.1%+12.9%-9.1%
Q2 2021-3.6%+10.8%+5.5%
Q1 2021-4.0%-6.3%-0.3%
Q4 2020+2.2%+6.5%-6.8%
Q3 2020+6.8%+1.0%+65.7%
Q2 2020+2.9%-4.4%+32.0%
Q1 2020-3.3%-10.8%+17.5%
Q4 2019-5.5%-13.8%-58.8%
Q3 2019-0.7%+1.0%-2.2%
Q2 2019+0.4%-0.9%-0.9%
Q1 2019+0.6%+1.3%+2.1%
Q4 2018+3.6%+6.8%+12.1%
Q3 2018-1.5%-1.1%-5.6%
Q2 2018+2.0%+7.8%+16.8%
Q1 2018+6.4%+7.4%+9.6%
Q4 2017+0.3%-0.3%+11.8%
Q3 2017-2.7%-1.6%-4.8%
Q2 2017+4.3%+6.9%+14.4%
Q1 2017+1.2%+0.2%+6.8%
Q4 2016+0.6%+3.5%+1.7%
Q3 2016+5.5%+5.3%+19.9%
Q2 2016-5.0%-5.8%-3.1%
Q1 2016-0.7%
Q4 2015-5.2%
Q3 2015+1.9%
Q2 2015-0.8%
Q1 2015+1.8%
Q4 2012

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