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Lindblad Expedition Holdings third quarter net profit rises to $9.3 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 07 November 2017 07 November 2017

Lindblad Expedition Holdings, Inc. the US based and listed expedition cruise operator, said its net income for the third quarter rose to $9.3 million, $0.20 per diluted share, as compared with $7.4 million, $0.16 per diluted share, in the third quarter of 2016 as growth in the expedition market starts to deliver stronger results.

Revenues rose to $87.4 million from $70.7 million and adjusted EBITDA to $23.1 million from $17.4 million

“The $1.9 million improvement (in net profit) was primarily due to the higher operating results as well as lower depreciation and amortization due mainly to the accelerated depreciation associated with the retirement of the National Geographic Endeavour a year ago,” the company said in a statement.

The latest quarter of 2017 also includes $1.7 million of additional stock-based compensation expense primarily related to grants under the 2016 CEO Share Allocation Plan, which provides the group CEO the ability to transfer shares from his existing holdings in the company to eligible employees, as well as $1.4 million in executive severance expense.

Sven-Olof Lindblad, President and Chief Executive Officer, said "Lindblad's strategic investment to expand our capacity to capitalize on the rapidly growing demand for expedition travel has begun to deliver significant returns. Bookings in 2017 are up over 30% versus a year ago and the Company delivered strong third quarter financial growth fuelled by the July launch of our first new-build vessel, the National Geographic Quest, while at the same time maintaining high occupancy levels across our existing fleet.”

“ This is only the first step in expanding our inventory and we are well under way on construction of her sister ship, the National Geographic Venture, which will be delivered in the fourth quarter of 2018. We also announced this morning that we have signed a contract for a new, state-of-the-art, polar ice class vessel. This contract includes options for two additional ships and these vessels will enable us to further immerse our guests in unique and authentic itineraries and broaden our ability to build additional shareholder value in the years to come," he said.

RCCL upbeat on 2018 outlook

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 07 November 2017 07 November 2017

Royal Caribbean Cruises, Limited (RCCL), the world’s second largest cruise shipping group, is upbeat about the outlook for next year as booking trends are strong, load factors firmer and capacity will increase, the company said in a statement.

“The company is experiencing strong early booking trends for 2018. Booked load factors and APDs (available passenger days) are higher than same time last year while the booking window has continued to extend,” RCCL said.

“Management is excited by the 2018 introduction of Symphony of the Seas in Europe next spring and Celebrity Edge in Fort Lauderdale in December of 2018.

While still early in the booking cycle, the view for 2018 is encouraging and the company expects another year of solid yield and earnings growth,” RCCL said.

Hurricanes erased 0.26 of RCCL third quarter EPS, cost company $55 million

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 07 November 2017 07 November 2017

Royal Caribbean Cruises, Limited (RCCL), the world’s second largest cruise shipping group, said the hurricanes of this autumn were unusually impactful because of when and where they hit and the net effect was a cost to the company in excess of $55 million or $0.26 per share.

RCCL reported third quarter EPS (earnings per share) of $3.49 compared to $3.21in the same period last year.

“The unprecedented series of hurricanes this summer devastated many people and places in Texas, Florida and the Caribbean and our sympathies go out to all those who suffered and are suffering losses. The repair and recovery efforts have been intense and most of the affected destinations served by our cruise ships have already been reopened or are about to be reopened,” RCCL said in a statement.

“Most of this impact was from lost revenue, but there were also direct costs associated with the storms and with the company's humanitarian efforts. In addition, there were significant timing shifts across a wide range of activities as expenses were shifted between quarters to adjust to the storms. Nevertheless, the company still expects to generate earnings for the year within the increased range of guidance provided prior to the storms,” RCCL said.