2023-04-17 13:04:24 ET
Lindblad Expeditions Holdings ( NASDAQ: LIND ) jumped back to a double-digit share price with a 18.10% swing higher on Monday. Investors reacted favorably to preliminary Q1 results from the travel company.
For Q1, Lindblad ( LIND ) expects to report total tour revenue in the range of $141M to $144M vs. $67.8M a year ago. Adjusted EBITDA is anticipated to be in the range of approximately $26M to $28M vs. the $11M consensus estimate and the adjusted EBITDA loss of $21.2M a year ago. Capacity was also much higher this year with available guest nights at 83,184 vs. 48,546 a year ago. LIND also disclosed a cash position of $121M at the end of the quarter, including restricted cash.
Notably, the cruise operator said it continued to see significant new bookings across the fleet during Q1 and has substantial advanced reservations. "We believe there is potential upside to LIND’s 2023 guidance, and we would expect management to raise their guidance range when they report in early-May," updated Stifel analyst Steven Wieczynski on the guidance update.
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Lindblad Expeditions soars after topping expectations with preliminary Q1 results