(RTTNews) - Viking Holdings Ltd (VIK), a cruise company, Wednesday reported higher earnings and revenue for the third quarter compared to the same period last year.
Quarterly earnings rose to $514 million or $1.15 per share from $379.7 million or $0.87 per share of last year. The third quarter of 2024 includes a loss of $18.6 million from the revaluation of warrants issued by the Company, due to stock price appreciation.
Excluding items, earnings increased to $533.8 million or $1.20 per share from $398.6 million or $0.90 per share of the prior year.
On average, analysts were expecting earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue grew 19.1 percent to $1,999.6 million from $1,678 million of the previous year, primarily driven by increased Capacity PCDs, higher Occupancy and higher revenue per PCD in 2025 compared to 2024.
Capacity PCDs increased by 11% in the third quarter compared to the same period last year, mainly helped by the growth of the Company's fleet, which included four additional river vessels, two additional ocean ships and the Viking Yi Dun accommodation agreement.
Occupancy for the third quarter was 96%.
Further, the company has entered into option agreements for eight river vessels, four of which have an exercise date of September 30, 2028, for delivery in 2031 and the other four have an exercise date of September 30, 2029, for delivery in 2032.
The company expects to take delivery of two river vessels during the remainder of 2025 based on the committed orderbook.
In pre-market activity, Viking shares were trading at $59.18, up 1.54% on the New York Stock Exchange.
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