Lindblad Expeditions Holdings, Inc. delivers diverse adventure travel experiences, encompassing both marine expeditions and land-based journeys. Through its primary Lindblad brand, the ...
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Est. EPS $0.32 · Revenue $260.58M · 2 analysts
Est. EPS $-0.27 · Revenue $189.12M · 2 analysts
Est. EPS $0.15 · Revenue $856.97M · 3 analysts
Est. EPS $0.08 · Revenue $218.84M · 1 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $771.0M | +19.6% | -4.2% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-29.7M | +4.7% | -121.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +37.6% | -19.4% | -2.4% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +5.9% | +76.5% | -20.1% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -3.9% | +20.3% | -122.6% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $63.8M | +8.5% | +19.9% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +8.3% | -9.3% | +25.2% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | -329.5% | +8.1% | +2.8% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.80x | +12.3% | +3.7% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $980.0M | +11.8% | +4.7% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -0.63 vs -0.49 | -28.5% | -0.02 vs 0.32 | -106.2% |
| Revenue Surprise | $771.0M vs $755.7M | +2.0% | $199.2M vs $260.6M | -23.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Sep 1, 2026 | Leahy Natalya | officer: CEO | Common Stock | A | 10,664 | — |
| Sep 1, 2026 | Goldberg Frederick | officer: Chief Financial Officer | Common Stock | A | 4,503 | — |
| Aug 8, 2026 | Stuart Andrew | director | Restricted Stock | A | 3,240 | — |
| Aug 8, 2026 | SCHULTZ ALEX P | director | Restricted Stock | A | 3,240 | — |
| Aug 8, 2026 | Reynolds Catherine B | director | Restricted Stock | A | 3,240 | — |
Operator: Hello, everyone. Thank you for joining us, and welcome to the Lindblad Expeditions Holdings, Inc. Reports 2026 Second Quarter Financial Results. [Operator Instructions] I will now hand the conference over to Rick Goldberg, Chief Financial Officer. Rick, please go ahead. Rick Goldberg: Thank you, operator. Good morning, everyone, and thank you for joining us for Lindblad's Second Quarter 2026 Earnings Call. With me on today's call is Natalya Leahy, our Chief Executive Officer. Natalya will begin with some opening comments, and I will follow with details on our Q2 results and expectations for the full year before we open the call for Q&A. As always, you can find our latest earnings release in the Investor Relations section of our website. But before we get to all of that, I'd like to remind everyone that the company's comments today may include forward-looking statements. Those expectations are subject to risks and uncertainties that may cause actual results and performance to be materially different from these expectations. The company cannot guarantee the accuracy of any forecast or estimates, and we undertake no obligation to update any such forward-looking statements. If you would like more information on the risks involved in forward-looking statements, please see the company's SEC filings. In addition, our comments may reference non-GAAP financial measures. A reconciliation of the most directly comparable GAAP financial measures and other associated disclosures are contained in the company's earnings release. With that out of the way, I'll turn the call over to Natalya. Natalya Leahy: Thank you, Rick, and good morning to everyone, and welcome to our second quarter earnings call. I'm excited to share our results with you today as this quarter once again demonstrates the strength of our strategic approach and execution. We delivered double-digit revenue growth in the second quarter with total company revenue growth of 19% to $199 million compared to $168 million in the second quarter of last year. Our Lindblad segment revenue increased 16% to $129 million, and our Land Experiences segment grew 23% to $70 million. Adjusted EBITDA increased 31% to $32.5 million compared to $24.8 million a year ago and adjusted EBITDA margins improved 150 basis points to 16.3% despite continued significant challenges from fuel prices. We delivered both occupancy and yield improvement despite a 12% increase in capacity. As you recall, we've consistently said we expect to achieve 90% occupancy this year, and I'm very pleased to report that this is the second consecutive quarter we've hit the 90-plus target. Occupancy increased to 91%, up from 86% in the second quarter of 2025, our highest second quarter occupancy rate in 10 years and slightly ahead of our expectations. Net yield increased 4% to $1,294 per guest night compared with $1,241 in the prior year period, a record for the second quarter. This marks the sixth consecutive quarter of delivering …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Natalya Leahy | Chief Executive Officer | USD 2,317,305 | Female | 1978 | Active |
Benjamin L. Bressler | Founder & Chief Executive Officer of Natural Habitat, Inc. | USD 1,993,979 | Male | 1963 | Active |
Frederick Goldberg | Chief Financial Officer | USD 957,554 | Male | 1985 | Active |
Dean Byus | Chief Expedition Officer | USD 581,624 | Male | 1969 | Active |
Sven-Olof Lindblad | Founder & Co-Chair | USD 22,311 | Male | 1951 | Active |
Mike Fulkerson | Chief Marketing Officer | — | Male | — | Active |
Patty Disken-Cahill | Director of Communications | — | — | — | Active |
Pamela Fingleton | Senior Vice President & Assistant to Chief Executive Officer | — | Female | 1941 | Active |
Jenelle Findley | Senior Vice President of Operations & Planning | — | Female | — | Active |
Kathi Riddle | SVP & Chief Sales Officer | — | Female | — | Active |
Alexis Freeman | General Counsel | — | Female | — | Active |
On June 30, 2026, John Rogers (Trades, Portfolio), through Ariel Investment, LLC, executed a reduction of the firm's position in Lindblad Expeditions Holdings I
Dimensional Fund Advisors LP lifted its position in shares of Lindblad Expeditions (NASDAQ: LIND) by 59.0% in the undefined quarter, according to its most recent disclosure with the SEC. The fund owned 786,119 shares of the company's stock after acquiring an additional 291,776 shares during the period. Dimensional Fund Advisors LP owned 1.20%
Lindblad Expeditions Holdings, Inc. reported fantastic Q2 results and a revenue guidance raise for 2026. LIND's expedition cruise market niche is highly attractive, and the company's strategy is working immensely well. Land Experiences have grown in importance to LIND, and brought asset-light earnings growth in Q2.
Lindblad Expeditions Holdings, Inc. (LIND) Q2 2026 Earnings Call Transcript
Lindblad reported second-quarter 2026 financial results before the market opened today. The company raised its 2026 revenue guidance.
