Shares of Viking Holdings fell on Tuesday, as cruise lines succumbed the morning's broad slide in travel stocks. The parent company of Viking cruises cleared expectations for Q4 results.
Viking Holdings reported earnings of 45 cents per share adjusted, beating FactSet expectations for 37 cents. Total revenue jumped 20.5% to $1.35 billion, also ahead of estimates for $1.33 billion.
The company's capacity passenger cruises days (PCDs) rose by 10.9% from last year, while occupancy for Q4 was 92.1%.
For Viking's core products, operating capacity is up 12% for the 2025 season. As of Feb. 23, Viking had already sold 88% of its capacity PCDs for 2025. The company has $5.3 billion in advance bookings for the season, up 26% from the same point last year.
"Bookings continue to beak records, with Jan. 31 setting a new all-time high for revenue booked in a single day and January 2025 achieving the highest revenue booked in a month in Viking's history," CEO Leah Talactac said in the release. "These metrics position us well for 2025 and also validate how well our products resonate with our target customers and the success of our demand generation strategies."
Based on its order book, Viking expects to take delivery of one ocean ship and 10 river ships in 2025.
Viking Stock
VIK stock fell 6% Tuesday as travel stocks broadly sold off.
Royal Caribbean stock ticked slightly lower after shedding more than 4% in early trade.
Carnival rose a fraction, reversing from its 4.8% decline earlier in the day.
Norwegian Cruise Line Holdings inched higher. NCLH stock retreated about 5% early Tuesday.
Meanwhile, airline stocks generally tumbled in early trade after Delta and American slashed their outlooks based on the weak demand environment.
Travel booking site were also off, led by Expedia, down 7.3%.
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