Viking Holdings (NYSE:VIK) shares moved higher in premarket trading Thursday after the company reported first-quarter results that exceeded analyst forecasts, supported by strong demand and higher passenger revenue.
The stock gained 2.24% ahead of the market open following the earnings release
The cruise operator posted adjusted earnings per share of -$0.11, outperforming analyst expectations of -$0.34 by $0.23. Revenue Climbs 18% Year-on-Year Quarterly revenue reached $1.05 billion, representing a 17.5% increase from $897.1 million in the same period last year. Viking said the improvement was driven by higher passenger cruise revenue and expanded operating capacity.
Adjusted EBITDA jumped 43.9% year-on-year to $104.8 million. The company’s net yield increased 9.5% to $596 from $544 in the prior-year quarter, while occupancy remained strong at 94.7%. CEO Transition Announced Alongside Results As part of a broader leadership transition, Torstein Hagen moved into the role of executive chairman. “Total revenue for the quarter grew 17.5% driving a 43.9% year-over-year increase in Adjusted EBITDA, underscoring the demand for our product and our operational discipline,” Hagen said.