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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