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Lindblad Expeditions: Return to ‘Significant Profitability’

Lindblad Expeditions is expecting to return to what CFO Craig Felenstein called significant profitably in 2023.

The company’s stock surged forward last Thursday following its third quarter earnings report, where the company showed it had returned to profitability on the EBITDA front for the third quarter.

“We do anticipate adjusted EBITDA loss in the fourth quarter of 2022 before a return to significant profitability in the first quarter of next year,” Felenstein said. “Overall, we are well-positioned for strong results in 2020, given current guest demand.”

“We have a significant portion of our anticipated revenue for 2023 already on the books, and our percentage of sales reached is similar to what it was back in 2018 for 2019 despite having 39 percent more capacity available for sale,” Felenstein  continued.

He said that bookings for most weeks continue to exceed bookings in the same week in 2019, and “there is no question that there is significant pent-up demand to get out.”

“We have ample liquidity to weather any immediate headwinds, and with a strong booking position moving forward, along with an expanded fleet and a broader set of product offerings, we are well-situated to build upon our results prior to the pandemic and deliver additional shareholder value in the months and years ahead.”

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