24/7 Market News Snapshot 05 November, 2024 – Lindblad Expeditions Holdings Inc. Common Stock (NASDAQ:LIND)

November 5, 2024

DENVER, Colo., 05 November, 2024 (247marketnews.com) – (NASDAQ:LIND) are discussed in this article.
Lindblad Expeditions Holdings Inc. is experiencing a significant upswing in its stock performance, reflecting a notable increase in investor confidence. Shares opened at $10.63 and soared to $11.44, marking a remarkable surge of 22.31% from the previous close of $9.35. With a trading volume of 562.75K, this positive market response can be attributed to heightened interest in the company’s expansive offering of innovative travel experiences, indicating potential for sustained growth.

Moreover, Lindblad has reported impressive financial results for the third quarter of 2024, further solidifying its position in the global expedition travel sector. Total revenues surged by 17% year-over-year, achieving $206 million, driven largely by increased demand across both maritime and land-based offerings. Net income available to stockholders rose sharply to $21.3 million, translating to $0.36 per diluted share, a significant leap from $4.5 million in the same period last year.

The adjusted EBITDA also saw a noteworthy increase of 35%, reaching $45.8 million, underscoring the company’s improved operational efficiencies. Revenues in the Lindblad segment alone amounted to $121.3 million, an increase of 12%, supported by enhancements in guest night availability and net yields. Meanwhile, the Land Experiences segment reported a 26% rise in revenues, reflecting the successful integration of Wineland-Thompson Adventures into Lindblad’s offerings.

CEO Sven Lindblad attributed this quarter’s success to the company’s operational strength and the compelling experiences offered, highlighting a 26% increase in future bookings. As Lindblad prepares to expand its presence in the adventure travel market, plans for two new purpose-built vessels in the Galápagos fleet set to launch in early 2025 further emphasize its growth trajectory. The company anticipates a full-year revenue target of $610 to $630 million, along with adjusted EBITDA projections between $88 to $98 million for 2024, signaling a promising outlook in the expedition travel landscape.

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