The strong beat and maintained guidance should drive positive momentum. Watch the conference call for commentary on booking trends and any update on the $12M remaining buyback authorization.
Price Chart
Executive Summary
Lindblad Expeditions reported a strong Q1 2026 beat: revenue of $208.0M (+16% YoY) topped the $197.9M consensus, and GAAP diluted EPS of $0.09 far exceeded the $0.01 consensus estimate. The company also posted record occupancy of 93% and record net yields, while maintaining its full-year 2026 guidance for $800-$850M revenue and $130-$140M Adjusted EBITDA.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $208.0M, +16% YoY, above $197.9M consensus
- GAAP diluted EPS $0.09 vs consensus $0.01 (beat by ~800%)
- Net income available to stockholders of $6.0M vs a net loss of $0.0M in Q1 2025
- Adjusted EBITDA $34.8M, +16% YoY
- Record occupancy of 93% (vs 89% in Q1 2025)
- Lindblad segment net yield per available guest night increased 7% to $1,631
- Full-year 2026 guidance maintained: revenue $800-$850M, Adjusted EBITDA $130-$140M
- Cash and restricted cash $321.1M, up from $289.7M at year-end 2025
- Total debt unchanged at $675.0M; in compliance with all covenants
- $35.0M stock repurchase plan in place with $12.0M remaining
Financial Impact
Revenue beat consensus by ~$10.1M (5.1%); EPS beat by $0.08 (800%)
Risk Factors
- Full-year guidance unchanged despite strong Q1 — implies deceleration in remaining quarters
- Geopolitical and macro headwinds cited by management could pressure future bookings
- High debt load of $675M with elevated interest expense ($10.6M/quarter)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-014742 |
| Document: lindb20260409_8k.htm | 0001437749-26-014742 |
| Document: 0001437749-26-014742-index-headers.html | 0001437749-26-014742 |
| Document: 0001437749-26-014742-index.html | 0001437749-26-014742 |
| Document: 0001437749-26-014742.txt | 0001437749-26-014742 |
| 8-K Data (Synthetic) | 0001437749-26-014742 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 6w ago | 8-K | $26.09 $27.24 | ▲ +4.41% | ▲ +4.08% | $35.09 (+34.50%) |
Aug 9, 2026 11w ago | Institutional Cluster | $33.04 $32.84 | ▼ −0.61% | ▼ −0.29% | $35.09 (+6.20%) |
Aug 3, 2026 12w ago | 8-K | $33.12 $34.09 | ▲ +2.93% | ▲ +1.13% | $35.09 (+5.95%) |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | $35.09 (+52.83%) |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | $35.09 (+52.83%) |
May 22, 2026 22w ago | Insider Cluster | $21.37 $22.57 | ▲ +5.62% | ▲ +5.60% | $35.09 (+64.20%) |
May 15, 2026 23w ago | Insider Cluster | $19.16 $18.46 | ▼ −3.65% | ▼ −3.00% | $35.09 (+83.14%) |
May 11, 2026 24w ago | 144 | $19.02 $19.02 | · 0.00% | ▼ −0.54% | $35.09 (+84.49%) |
May 11, 2026 24w ago | Insider Cluster | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | $35.09 (+80.13%) |
May 8, 2026 24w ago | 144 | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | $35.09 (+80.13%) |
US Market Status
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