Shares of Lindblad Expeditions Holdings Inc. (NASDAQ: LIND) surged 5.22% on Thursday morning, following the company's better-than-expected third-quarter earnings report released the previous week.
The adventure travel company reported Q3 revenue of $206 million, beating analysts' estimates of $194.4 million. Earnings per share came in at $0.36, significantly higher than the expected $0.18 per share. The strong results were driven by robust demand for Lindblad's expedition cruises and adventure travel offerings.
While analysts raised their price targets for LIND after the earnings beat, they also increased their loss forecasts for 2025, now expecting a loss of $0.11 per share compared to previous estimates of $0.097. However, the analysts view these losses as temporary, likely attributing the stock's surge to optimism about Lindblad's long-term growth prospects.
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