Viking Holdings Ltd (NYSE:VIK) announced second-quarter results on Tuesday that beat Wall Street forecasts, as both earnings and revenue came in ahead of consensus. Adjusted earnings per share were $0.99, topping analyst estimates of $0.79, while quarterly revenue reached $1.88 billion, up 18.5% from the same period a year earlier.
Shares of the cruise operator edged 0.50% higher after the release, signaling investor approval of the performance.
Growth was fueled by expanded capacity, stronger occupancy, and higher revenue per passenger cruise day. Net yield climbed 8% year-over-year to $607, while adjusted EBITDA surged 28.5% to $632.9 million compared with the second quarter of 2024.
“We delivered another quarter of great results, further underscoring the strength of our business model and of our core guest demographic,” said Torstein Hagen, Chairman and CEO of Viking. “In the second quarter, our revenue increased 18.5% and our Adjusted EBITDA increased 28.5% year-over-year, reflecting continued solid demand for our destination-focused travel experiences.”
Passenger cruise days rose 8.8% from last year’s period, boosted by fleet expansion that included three new river vessels, one additional ocean ship, and the Viking Yi Dun accommodation agreement. Occupancy for the quarter reached 95.6%.
Looking forward, Viking highlighted robust demand, with 96% of its 2025 capacity already booked and 55% of 2026 sailings sold. Bookings for the 2025 season are tracking 21% above the same point last year, while 2026 reservations are running 13% higher than 2025 at the comparable stage.
As of June 30, 2025, Viking reported $2.6 billion in cash and equivalents, along with access to an undrawn $375 million revolver facility, underscoring the company’s strong liquidity position.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.