Lindblad Expedition Holdings ( NASDAQ: LIND ) was one of the biggest gainers in the consumer discretionary after sailing past consensus estimates with its Q3 earnings report.
Revenue more than doubled to $145M for the quarter and the cruise line operator posted an adjusted EBITDA profit.
Lindblad segment net yield per available guest night increased 24% to $1,014 and an occupancy rate of 81% was reported. Execs points to strong reservations for future travel with bookings for next year 23% ahead of bookings for 2020 at the same point in 2019.
CEO update: "With significant demand across both our ship and land-based businesses, our guests are demonstrating their eagerness to return with us to exploring the world's most remarkable destinations. The growing desire for high quality, immersive and authentic experiences drove the positive earnings contributions during the third quarter, while also positioning us for continued success in 2023 and beyond, when we can further leverage the increased fleet capacity and diversified product offerings we have strategically invested in over the last two years."
Shares of Lindblad Expeditions ( LIND ) soared 26.71% in early trading on Wednesday to a six-week high.
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Lindblad Expeditions pops 27% after cruising past earnings expectations