Lindblad Expeditions Reports Record Third Quarter Earnings

Lindblad Expeditions Holdings, Inc. announced third-quarter financial results for 2026, highlighted by a 12% revenue increase to $269.2 million. The company reached a record net income of $24.2 million, a significant turnaround from the minimal income reported in the same period last year. Occupancy levels reached 91%, up from 88% in 2025.

During the quarter, the company moved to expand its portfolio by acquiring a majority stake in luxury Antarctic travel operator White Desert and launching a new aviation brand, Echo Charlie. CEO Natalya Leahy attributed the performance to disciplined operational execution and the strength of the company’s current business model.

Growth was balanced across segments, with Lindblad expedition cruises seeing an 11% rise in tour revenues and land-based experiences growing by 13%. These gains were partly offset by increased operating costs, specifically higher fuel prices and rising royalty payments associated with the final step-up in the company’s agreement with National Geographic.