Lindblad Expeditions (NASDAQ:LIND) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Lindblad Expeditions (NASDAQ:LIND) issued its earnings results on Tuesday. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01, Zacks reports. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. The firm had revenue of $269.15 million during the quarter, compared to analyst estimates of $263.54 million.

Here are the key takeaways from Lindblad Expeditions’ conference call:

• Record third-quarter performance: Revenue rose 12% to $269.2 million, Adjusted EBITDA increased 12% to $64.1 million, and net income reached a company-record $24.2 million. Occupancy improved to 91.2% and net yield rose 6.4% to a record $1,398 per available guest night.
• Lindblad raised its 2026 outlook for the second time in six weeks, now expecting revenue of $870 million–$885 million, net-yield growth of 6%–7%, and Adjusted EBITDA of $142 million–$148 million. Management said 2027 and 2028 bookings are pacing ahead of the prior year, with 2027 at a record booked position.
• The acquisition of majority stakes in White Desert and Echo Charlie expands the platform into air-based Antarctic and remote-region experiences, alongside its existing sea and land offerings. Management sees cross-selling opportunities and a large underpenetrated market, including plans to add a fourth White Desert camp and launch new Echo Charlie itineraries.
• Higher fuel prices remain a material headwind, with fuel expense up 22% year over year despite lower consumption and fuel prices approximately 50% higher. The company does not hedge fuel and expects fourth-quarter capacity to decline mid-single digits due to dry docks and repositioning, while acquisition spending increased net leverage to 2.5 times.
• Management continues to pursue mid-single-digit capacity growth through charters and is evaluating new ships, acquisitions, and additional land businesses. Cost-innovation initiatives in areas such as inventory management, accounts payable, and technology are expected to deliver more fully in 2027.

Lindblad Expeditions Trading Down 8.8%

LIND traded down $3.22 during trading hours on Tuesday, hitting $33.44. The company’s stock had a trading volume of 72,671 shares, compared to its average volume of 836,092. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -88.05 and a beta of 2.24. The business’s 50-day moving average price is $31.39 and its 200-day moving average price is $24.51. Lindblad Expeditions has a 12 month low of $11.37 and a 12 month high of $38.85.

Insider Buying and Selling

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 97,470 shares of Lindblad Expeditions stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $36.23, for a total value of $3,531,338.10. Following the completion of the transaction, the director directly owned 10,351,502 shares of the company’s stock, valued at $375,034,917.46. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 750,000 shares of company stock worth $26,532,349 in the last three months. 26.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, October 15th. Jefferies Financial Group increased their price objective on shares of Lindblad Expeditions from $29.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, October 8th. Wall Street Zen raised shares of Lindblad Expeditions from a “hold” rating to a “buy” rating in a report on Sunday, September 20th. Zacks Research upgraded Lindblad Expeditions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $30.00 target price on shares of Lindblad Expeditions in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lindblad Expeditions presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Lindblad Expeditions Company Profile

Lindblad Expeditions Holdings, Inc (NASDAQ:LIND) operates expedition cruises and adventure travel experiences focused on nature, culture and education. Through its Lindblad Expeditions brand, the company provides small-ship voyages designed to take travelers to remote destinations while emphasizing exploration, conservation and expert-led interpretation.

The company’s offerings include ocean and river expeditions, wildlife-focused voyages, cultural journeys and land-based adventures. Trips commonly feature naturalists, historians, photographers and other specialists, along with activities such as shore excursions, hiking, kayaking, snorkeling and wildlife observation.