Lindblad Expeditions Shares Dip On Wider Than Expected Q2 Loss, Refrains From Giving Outlook

Lindblad Expeditions Holdings Inc LIND reported second-quarter FY21 sales of $15.30 million, beating the analyst consensus of $8.90 million.
The increase was driven by a $6.7 million growth at the Lindblad segment and an $8.8 million gain at the Land Experiences segment, primarily due to the resumption of several expeditions and trips during Q2.
Operating expenses increased 38.8% Y/Y to $47.8 million.
The operating loss narrowed by 6% Y/Y to $(32.6million).
Net cash provided by operating activities for the six months amounted to $21.8 million. It held $203.5 million in cash and equivalents as of June 30, 2021.
Adjusted EBITDA loss was $(22.9million), comprising Lindblad segment Adjusted EBITDA loss of $(21.8) million.
Loss per share of $(0.71) missed the analyst consensus for a loss of $(0.60).
As of July 31, 2021, the company had eight of its nine vessels providing expeditions to guests.
"Much of our short-term focus is on ramping up operations, and we couldn't be happier to have nearly all our ships back delivering unparalleled experiences to our loyal guests," said CEO Dolf Berle.
Bookings for 2022 are 36% ahead of 2021 bookings as of the same date a year ago.
Lindblad Expeditions did not provide a full-year outlook at this time, citing continued uncertainty around the COVID-19 pandemic.
Price action: LIND shares are trading lower by 3.61% at $13.07 on the last check Tuesday.

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