What Happened?
Shares of cruise and exploration company Lindblad Expeditions (NASDAQ: LIND) jumped 3.6% in the morning session after the company reported strong second-quarter financial results that beat analyst expectations and raised its full-year guidance. The cruise and exploration company announced its revenue grew 23% year-over-year to $167.9 million, which surpassed estimates. Its loss of $0.18 per share was also smaller than Wall Street anticipated. Profitability showed significant improvement as adjusted EBITDA, a key measure of operational profit, more than doubled to $24.8 million and soundly beat forecasts. This strong performance stemmed from robust demand, with occupancy rates that reached 86%. Looking ahead, Lindblad lifted its full-year forecast for both revenue and adjusted EBITDA.
After the initial pop the shares cooled down to $11.80, up 0.5% from previous close.
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What Is The Market Telling Us
Lindblad Expeditions’s shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock gained 25.1% on the news that the company reported third-quarter results that blew past analysts' sales and EPS expectations. Revenue was supported by the expansion of fleet and land experiences as the company reiterated its focus on delivering high-quality travel experiences. On the other hand, its full-year revenue guidance was underwhelming, although this was offset by strong EBITDA guidance ahead of expectations. Overall, we think this was a solid quarter with some key areas of upside.
Lindblad Expeditions is up 4.3% since the beginning of the year, but at $11.80 per share, it is still trading 14.9% below its 52-week high of $13.86 from November 2024. Investors who bought $1,000 worth of Lindblad Expeditions’s shares 5 years ago would now be looking at an investment worth $1,627.
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