The following is a summary of the Lindblad Expeditions Holdings, Inc. (LIND) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Lindblad Expeditions reported Q1 2024 total company revenue of $154 million, marking a 7% increase from Q1 2023.

• Revenue for Lindblad segment increased by 2% to $118.3 million from Q1 of the previous year.

• Available guest nights rose by 3% and net yield per guest night grew by 1%.

• The company's Land Experiences segment revenue increased by 27% to $35.3 million. However, operating costs also surged by 14%.

• The adjusted EBITDA stood at $21.6 million, down by $5.6 million from Q1 2023.

• The net loss available to stockholders summed up to $5.1 million, or $0.10 per diluted share.

Business Progress:

• The expedition company saw a 20% increase in bookings for future travel, compared to the same period in 2023.

• Lindblad is focusing on attracting both new and past guests with the development of new itineraries for Iceland and Antarctica.

• The brand partnership with National Geographic has been expanded and extended, with a new co-branded logo set to roll out.

• Lindblad announced acquisition plans for Wineland-Thomson Adventures, a Tanzania safari specialist, expected to be completed by H2 2024.

• With already over 94% of projected ticket revenues for 2024 booked, the company is maintaining pricing discipline and maximizing yield.

• Partnership with National Geographic and Disney is likely to bring significant value starting from 2025.

• The company is also poised for growth, with plans to acquire or build more ships and expand their expedition travel.

More details: Lindblad Expeditions IR

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