Lindblad Expeditions Holdings (NASDAQ: LIND) reported Q1 EPS of $0.31, $0.10 better than the analyst estimate of $0.21. Revenue for the quarter came in at $89.65 million versus the consensus estimate of $94.85 million.

• Tour Revenues increased 9% to $89.7 million
• Net income available to common stockholders increased $3.9 million to $14.7 million
• Adjusted EBITDA decreased $0.1 million to $22.0 million
• Lindblad segment Net Yield of $1,099 and Occupancy of 91%
• Signed contract to build a second new polar ice class vessel for delivery in September 2021

Sven-Olof Lindblad, President and Chief Executive Officer, said, "Lindblad is off to another great start in 2019 as the strong momentum we generated throughout the last year and a half continued into the first quarter. The addition of our second new build vessel, the National Geographic Venture, in December of 2018, has further increased our overall capacity and as we have expanded our inventory we continue to maintain high yields and occupancy levels. Demand for expedition travel has never been greater and with a proven track record of delivering high quality and immersive experiences, along with our long-standing partnership with National Geographic, we are generating booking strength from both loyal guests as well as those experiencing this type of travel for the first time. Reservations for departures later this year and beyond remain strong as we continue to see broad based demand at higher yields for our new builds as well as our existing fleet. With further capacity expansion, including two new polar vessels scheduled to join our fleet over the next two years, and the ability to sustain pricing and occupancy levels, we remain uniquely positioned to generate continued strong growth and build additional shareholder value for years to come."

GUIDANCE:

Lindblad Expeditions Holdings sees FY2019 revenue of $350-358 million, versus the consensus of $354 million.

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