The following is a summary of the Lindblad Expeditions Holdings, Inc. (LIND) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 2024 revenue was $136.5 million, up 9% from Q2 2023.
Adjusted EBITDA increased by $4.2 million year-over-year to $10.4 million.
Occupancy increased to 78% from 74% in the previous year, with every percentage point increase in occupancy potentially adding $4 million to $5 million in additional EBITDA annually.
Business Progress:
Experienced significant growth in bookings for future travel, up 17% from the same period in 2023.
Launched a major collaboration with National Geographic and Disney, focusing on expanding brand reach and efficiency in marketing.
Acquired two additional ships for the Galapagos, increasing inventory by 45%, expected to begin operation by late Q1 next year.
Expanded land experience operations with revenue growth of 16%, and acquired Thomson Safaris, enhancing offerings in Africa.
Opportunities:
Collaboration with Disney and National Geographic to boost brand reach and operational efficiencies.
Expanded presence in Galapagos with two new ships increases potential for first-time travelers significantly.
Strengthening land-based adventure offerings presents a considerable opportunity for growth in diverse geographies.
Risks:
Instability in mainland Ecuador and Middle East conflicts impacted bookings and necessitated the rerouting of ships, affecting normal operations.
More details: Lindblad Expeditions IR
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