Lindblad Expeditions has provided a preliminary estimated financial results for the first quarter 2023.
Total tour revenues for1Q23 will be in the range of about $141 mill to $144 mill, compared to $67.8 mill for 1Q22.
Adjusted EBITDA for 1Q23 will be about $26 mill to $28 mill, compared to a loss of $21.2 mill for 1Q22, while cash and cash equivalents as at 31st March, 2023 were estimated at round $121 mill, including restricted cash.
Available guest nights were around 83,184 for the three month period, compared to 48,546 for 1Q22.
Occupancy rates were estimated to be 81% for 1Q23, compared to 66% for the same period of 2022.
Net yield per available guest nights will be in a range of around $1,200 to $1,220 for the quarter, compared to $739 for 1Q22.
During the first quarter, Lindblad claimed it continued to see significant new bookings across the fleet and have substantial advanced reservations for the future.
As of 10th April, 2023, bookings for full year 2023 were about 46% ahead of those for the comparable look-forward period as of April, 2019, before the COVID-19 pandemic began to impact the company’s bookings and operations.
In addition, Lindblad issued $275 mill in new unsecured notes.