Lindblad launches $275M senior secured notes offering, provides preliminary Q1 results

LINDBLAD EXPEDITIONS HOLDINGS, INC.

Total tour revenues expected $141-144M for Q1 2023 vs $67.8M in Q1 2022.
Adjusted EBITDA expected $26-28M vs an adjusted EBITDA loss of $21.2M in Q1 2022.
Lindblad segment occupancy 81% vs 66% YoY; Net Yield per Available Guest Night $1,200-1,220 vs $739.
Full year 2023 bookings as of April 10, 2023 are 46% ahead of the comparable pre-COVID period in April 2019.
Offering $275M senior secured notes due 2028 to prepay export credit facilities on two vessels (National Geographic Endurance and Resolution).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LINDBLAD EXPEDITIONS HOLDINGS, INC. reported the first quarter ended March 31, 2023 results: revenue in the range of approximately $141 million to $144 million.

Period: the first quarter ended March 31, 2023
Revenue: in the range of approximately $141 million to $144 million
Result: preliminary results

Exact text from the filing

First Quarter 2023 Preliminary Estimated Financial Results For the first quarter ended March 31, 2023, the Company expects to report: · Total tour revenues for the three months ended March 31, 2023 in the range of approximately $141 million to $144 million

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Source: SEC EDGAR

accession 0001104659-23-045922

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