LINDBLAD EXPEDITIONS HOLDINGS, INC. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
Lindblad reported Q3 2026 revenue of $269.2M (+12% YoY), net income of $24.2M ($0.36/diluted share), and Adjusted EBITDA of $64.1M (+12% YoY). The company acquired majority stakes in White Desert (Antarctic luxury travel) and Echo Charlie (aviation travel brand) for $54.6M net cash. Occupancy reached 91%, and net yield per available guest night increased 6% to $1,398. Full-year 2026 guidance: revenues $870–$885M, Adjusted EBITDA $142–$148M.
Why this rating
Strong organic growth + strategic acquisition ($54.6M ≈ 16% of market cap) expands portfolio; record EBITDA substantial relative to $342M company size but offset by debt load ($675M) and integration risk.
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