Viking Holdings Narrows 1Q Loss as Cruise Demand Drives Rev Growth

Dow Jones
2025/05/20
 

By Adriano Marchese

 

Viking Holdings narrowed its loss in the first quarter while revenue growth topped expectations as demand for cruises continues to rise.

The expedition cruises company on Tuesday posted a loss of $105.5 million, or 24 cents a share, compared with a loss of $491 million, or $1.20 a share, in the same quarter a year ago.

Last year's first quarter included a charge of $330.5 million related to the net impact of a private placement derivative loss and interest expense on Series C Preference Shares, Viking said.

Adjusted loss, which excludes one off costs and exceptional items, came to 24 cents a share. According to FactSet, analysts were expecting a wider loss of 29 cents a share.

Total revenue rose 25% to $897.1 million, topping expectations of a more modest rise to $841.2 million.

For Viking's core products, operating capacity is 12% higher for the 2025 season compared with the 2024 season and 8% higher for the 2026 season compared to the 2025 season, the company said.

"We are seeing sustained strength in demand, with 92% of our 2025 capacity already booked--effectively selling out the year, given our typical load factor," Chief Financial Officer Leah Talactac said.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

May 20, 2025 07:50 ET (11:50 GMT)

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