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LIND Nasdaq· Lindblad Expeditions Holdings Inc.
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LIND Nasdaq· Lindblad Expeditions Holdings Inc.
Earnings report Q3 2023

Lindblad's Tour Revenues Surge by 30% in Q3 2023

Segments of revenue

Lindblad's tour revenues for the three months ended September 30, 2023, increased by $25.0 million, or 30%, compared to the same period in 2022. The Land Experiences segment also saw a growth of $6.2 million, or 10%, during the same period.

Strengths

Lindblad's impressive performance in Q3 2023 can be attributed to operating additional expeditions and trips, as well as higher pricing. The company's focus on providing unique and immersive travel experiences has resonated well with customers, leading to increased demand and higher revenues. Management's decision to expand their offerings and maintain competitive pricing has paid off, resulting in a significant boost in tour revenues.

Challenges

Despite the strong revenue growth, Lindblad continues to face challenges in terms of operating income. In Q3 2023, the segment reported an operating loss of $7.1 million, although this was an improvement compared to the loss of $60.4 million in the same period last year. The company needs to address the factors contributing to the operating loss and work towards achieving profitability in the segment.

Noteworthy

Lindblad's tour revenues for the nine months ended September 30, 2023, increased by $113.6 million, or 57%, compared to the same period in 2022. This significant growth can be attributed to the successful execution of the company's strategy to expand operations and capitalize on the growing demand for unique travel experiences. Additionally, Lindblad received $11.6 million in other income related to expenses covered under the Coronavirus Economic Relief for Transportation Services Act grant.

Summary

Lindblad's tour revenues experienced a remarkable surge of 30% in Q3 2023, driven by the expansion of expeditions and trips, as well as higher pricing. The company's focus on providing unique travel experiences has resonated well with customers, leading to increased demand and revenue growth. However, Lindblad needs to address the operating loss in the segment and work towards achieving profitability. Overall, the company's strong revenue performance reflects its ability to adapt to changing market dynamics and capitalize on emerging opportunities in the travel industry.

Source documents

Form 10-Q  filed on Nov 02, 2023
48 pages scanned

Reference data

Company financials Q3 revenue 125M
Analyst estimates Q3 EPS missed by -1,277.78%
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