Lindblad Expeditions Reports 12% Revenue Gain

Lindblad Expeditions posted third quarter 2026 tour revenues of $269.2 million and net income of $24.2 million.

Updated on Nov. 3, 2026 in Adventure Travel

Small white expedition ship sailing across calm blue water toward a rugged, forested coastline under overcast sky. — Lindblad Expeditions reported third-quarter 2026 tour revenues of $269.2 million, up 12%, and net income of $24.2 million. AI Illustration. Upload story photo >

Lindblad Expeditions reported third quarter 2026 results, with tour revenues of $269.2 million, up $29.0 million or 12% from the same period in 2025. Net income available to stockholders was $24.2 million, or $0.36 per diluted share, for the period ended September 30, 2026.

Why it matters

The results reflect higher occupancy and guest volume across its Lindblad and Land Experiences segments, which matters for travelers weighing adventure-travel offerings in the United States. The company's improved operating performance also offset a rise in income tax expense.

Third quarter tour revenues reached $269.2 million, up 12% year over year, with Lindblad segment occupancy at 91% and net yield up 6% to $1,398. The filing does not address guidance for coming quarters.

The players

Lindblad Expeditions

Lindblad Expeditions is a travel company that operates expedition cruises and land-based adventure experiences.

The details

Lindblad segment tour revenues totaled $153.4 million, driven by occupancy growth on a 4% rise in available guest nights, while Land Experiences segment revenues reached $115.8 million, up 13% on more guests and additional trips. Net income rose $24.3 million year over year, partly offset by a $7.0 million increase in income tax expense.

Third quarter 2026 results cover the period ended September 30, 2026.
The comparison baseline is the third quarter of 2025.

Season Trajectory

The third quarter's gains in occupancy and net yield extend a pattern of rising demand for guided adventure travel across the company's Lindblad and Land Experiences brands. Strong results in a peak travel period help position the company's full-year performance.

Travelers booking expedition cruises or guided land trips face a market where demand and pricing have strengthened, with higher occupancy and net yield signaling fuller departures. Prospective guests may find availability tighter during peak periods.

The takeaway

Adventure travel demand remained firm in the third quarter, with higher occupancy and yield suggesting continued interest in guided expedition trips. Travelers planning ahead may benefit from booking early during busy seasons.