NASDAQ$LIND

Lindblad Expeditions Holdings Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported fourth quarter and full year financial results and announced acquisitions of DuVine Cycling + Adventure Co. and Off the Beaten Path LLC.

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.

Headline financials

Total Revenue

$367K

Previous: $75.8M-99.5%
EPS (adj)

-$0.59

Previous: -$0.03-1866.7%
Capital Expenditures

$2.69M

Previous: $19.3M-86.1%
Free Cash Flow

-$23.2M

Previous: $1.75M-1425.3%
Net Income

-$31M

Previous: -$1.47M-2010.3%
Operating Income

-$41.8M

Previous: -$947K-4308.9%
Gross Profit

-$9.58M

Previous: $34M-128.2%
Cash & Equivalents

$188M

Previous: $102M+84.6%
Total Assets

$892M

Previous: $549M+62.5%
Stock-Based Comp

$477K

Previous: $902K-47.1%

Revenue & EPS history

Lindblad Expeditions · Revenue · Quarterly

$367K

Q4 2020-99.5%vs Q4 2019
Beat estimate in 5 of 16 quarters(31%)
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

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

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+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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