Lindblad Expeditions Holdings (NASDAQ: LIND) reported Q2 EPS of ($0.80), $0.19 worse than the analyst estimate of ($0.61).

Second Quarter 2020 Highlights:

• Implemented significant cost reduction measures to further increase liquidity profile and ended the quarter with $80.9 million in unrestricted cash and $21.3 million in restricted cash
• Amended export credit agreements, deferring $9.0 million in principal payments and suspending financial covenants
• Following the quarter, amended term loan and revolving credit facilities to suspend leverage covenants
• Cash usage is approximately $10-15 million monthly excluding the impact of guest payments and refunds

Sven-Olof Lindblad, President and Chief Executive Officer, said, "The COVID-19 virus has created unprecedented challenges for the travel industry and while we can't be certain when we will be able to return to the world's most remarkable destinations, the steps we are taking today will enable us to return to operations as soon as possible, safely and prosperously. I couldn't be prouder of how hard the Lindblad team has worked to enhance our existing rigorous operating protocols, while coordinating with local authorities that have welcomed us for the last four decades. We continue to hear from our loyal guests how eager they are to resume travelling with us, especially given the smaller size of our ships and the remote geographies we visit, and we look forward to once again providing them the joy of exploration through authentic and immersive experiences."

For earnings history and earnings-related data on Lindblad Expeditions Holdings (LIND) click here.