Following the travel giant's announcement of record Q3 profitability, driven on the back of stellar demand for its land experiences and high bookings for future travel, Lindblad Expeditions (LIND, Financial) jumped over 13% in premarket trade Tuesday.
Lindblad reported overall income of $206 million, up 17% YOY and above Wall Street's estimate by $12.3 million. Rising 26%, sales in the Land Experiences segment of the company took profits to $0.36 per share, roughly twice the forecasts of analysts. Emphasizing the company's "record third quarter," CEO Sven Lindblad said Lindblad is "well positioned to deliver meaningful shareholder value in the years to come."
Strong operating performance, together with a $6.8 million tax advantage and lower expenses—including $400,000 less in stock-based compensation—positively impacted the quarter's profit growth, which climbed over four-fold. Up $11.9 million, Adjusted EBITDA climbed to $45.8 million.
Lindblad reiterated in 2024 its income forecast of $610 million to $630 million, higher than analyst projections and above levels in
