Lindblad Expeditions Holdings (LIND) Tops Q2 EPS by 1c, Miss on Revenues; Offers FY Revenue Outlook Below Consensus
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Lindblad Expeditions Holdings (NASDAQ: LIND) reported Q2 EPS of ($0.06), $0.01 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $55.6 million versus the consensus estimate of $57.93 million.
FINANCIAL OUTLOOK
The Company's current expectations for the full year 2017 are as follows:
- Tour revenues of $272 - $276 million
- Adjusted EBITDA of $44 - $46 million
This outlook includes the estimated $3.6 million revenue impact and $3.0 million Adjusted EBITDA impact associated with the cancellation of four voyages due to the delayed launch of the National Geographic Quest as well as the estimated $9.1 million revenueimpact and estimated $6.5 million Adjusted EBITDA impact associated with the first quarter cancellation of four voyages on the National Geographic Orion and two voyages on the National Geographic Sea Lion for necessary repairs. As of August 1, 2017, the Lindblad segment had 98% of full year 2017 projected guest ticket revenues on the books versus 98% of full year 2016 revenue at the same time last year.
As of July 31st, bookings in 2017 have increased nearly 40% compared with the same period a year ago and the majority of this increase is expected to contribute to revenue growth in the back half of 2017 and full year 2018.
GUIDANCE:
Lindblad Expeditions Holdings sees FY2017 revenue of $272-276 million, versus the consensus of $279.83 million.
Second Quarter 2017 Highlights:
- Tour Revenues increased 3% to $55.6 million
- Net loss of $2.6 million as compared with a net loss of $4.5 million in 2016
- Adjusted EBITDA increased 1% to $5.3 million
- Lindblad segment Net Yield of $941 and Occupancy of 85%
For earnings history and earnings-related data on Lindblad Expeditions Holdings (LIND) click here.
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