Why Lindblad Expeditions Stock Dropped on Monday
Shares of Lindblad Expeditions Holdings (NASDAQ: LIND) were down 8.9% as of 12:16 p.m. ET on Monday after the company reported second-quarter financial results. The results might have disappointed investors, but the quarter points to a steady recovery for the cruise ship operator.
Revenue came in at $91 million, up 19% year over year, as Lindblad was operating with its full fleet of ships during the quarter. The higher demand for expeditions lifted the bottom-line performance, with the company's net loss narrowing to $30 million compared to a loss of $36 million in the year-ago quarter.
Lindblad got hit hard during the pandemic. It still has a way to go before recovering to pre-pandemic revenue levels of $343 million in 2019, but it is ramping up operations and experiencing a steady upward trend in demand.
Source Fool.com
