NEW YORK - Viking Holdings Ltd (NYSE:VIK) reported third-quarter results that exceeded analyst expectations, sending shares up 0.9% in after-hours trading.
The cruise operator posted adjusted earnings per share of $0.89, surpassing the consensus estimate of $0.82. Revenue for the quarter came in at $1.68 billion, slightly above analyst projections of $1.67 billion.
Viking's total revenue increased 11.4% YoY to $1.68 billion, driven by higher revenue per passenger cruise day compared to the same period last year. Adjusted EBITDA rose 15.3% YoY to $554.3 million.
"The strength of our one Viking brand and our loyal guests are two key factors that drove our impressive third quarter financial results, positioning us for what looks to be a strong 2024," said Torstein Hagen, Chairman and CEO of Viking.
The company reported occupancy of 94.0% for the quarter, down slightly from 94.9% in Q3 2023. Net yield increased to $576 from $519 in the prior-year period.
Looking ahead, Viking said it has already sold 95% of its capacity for the 2024 season and 70% for the 2025 season. Advance bookings for 2025 are 26% higher than 2024 bookings at the same point last year..
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.