Viking Q2 Profit Jumps 34% to $587M, Beating Estimates on Fleet Growth
VIK sits 78% above its 52-week low of $56.06.
Summary
Viking posted Q2 profit of $587.4M, or $1.31 per share, up from $439M, or $0.99 per share, a year earlier, beating the $1.26 FactSet consensus. Revenue rose 16.5% to $2.19B, also ahead of the $2.14B estimate, helped by a bigger fleet. Capacity passenger cruise days grew nearly 11% on a larger fleet, with occupancy above 94%. Operating expenses climbed 17% (14% ex-fuel) due to fleet expansion. This follows the 6-K filed earlier today with preliminary figures; the news adds analyst comparison and margin detail. Strong demand and fleet growth drove the beat, but expense growth is a watch item for margin sustainability.
At the time of this announcement, VIK was trading at $99.63 on NYSE in the Trade & Services sector, with a market capitalization of approximately $43.9B. The 52-week trading range was $56.06 to $110.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.