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Viking has commenced its third season in the Great Lakes with the deployment of its expedition ships, Viking Octantis and Viking Polaris. Notably, the company announced new 2026 itineraries, including a 10-day and a 17-day journey that will, for the first time, bring a Viking ship to Chicago. These voyages will explore various destinations, such as Niagara Falls and the Welland Canal. In addition, Viking has introduced innovative scientific programs, including real-time genetic sequencing of phytoplankton at sea. The company has partnered with the NOAA and other scientific bodies to further research and environmental monitoring in the region. Viking's vessels offer unique amenities such as The Aula auditorium, Finse Terrace, and advanced scientific labs. Rated #1 for Expeditions by Condé Nast Traveler, Viking aims to provide enriching travel experiences while emphasizing environmental responsibility. Bookings for the new itineraries are now open.
Viking Holdings (NYSE: VIK) released its Q1 2024 financial results. Total revenue rose to $718.2 million, marking a 14.2% increase year-over-year. Adjusted Gross Margin increased by 19.1%, reaching $495.3 million. The company reported a Net Yield of $508 and a rise in Adjusted EBITDA by $46.1 million. Despite these gains, Viking posted a significant net loss of $493.9 million, primarily due to a $330.5 million loss related to Private Placement derivatives. Occupancy increased to 94.0% from 92.8% in Q1 2023. Viking has promising advance bookings, with 91% of the 2024 capacity and 39% of the 2025 capacity already sold. The company also completed a $1.8 billion initial public offering, receiving net proceeds of $245.5 million. S&P upgraded Viking's corporate rating to BB-. Additionally, Viking is set to take delivery of two river vessels and one ocean ship this year.
Viking (NYSE: VIK) has pioneered real-time environmental DNA (eDNA) sequencing of phytoplankton on board their expedition fleet, specifically the Viking Octantis®. This initiative, supported by UC San Diego's Scripps Institution of Oceanography and the J. Craig Venter Institute, aims to monitor the environmental impact on phytoplankton directly at sea, eliminating the need to transport samples to onshore facilities. This marks a significant advancement in marine research, contributing to better understanding of oceanic ecosystems. Viking’s collaboration extends to various institutions including the University of Cambridge and the Cornell Lab of Ornithology. By converting onboard PCR labs, Viking facilitates meaningful scientific research during expeditions to Antarctica and the Great Lakes. This project emphasizes Viking’s commitment to environmental responsibility and scientific discovery, leveraging advanced technology to gather critical data on the ocean's plankton communities and their response to climate change.
Viking Holdings (NYSE: VIK) has scheduled a conference call to discuss its first quarter 2024 financial results. The call will take place at 8:00 a.m. Eastern Time on Wednesday, May 29, 2024. The financial results will be released before the market opens on that day. The call will be webcast live on the company's investor relations website, and a replay will be accessible for 30 days.
Viking (NYSE: VIK) announced the float out of its newest ship, the Viking Sobek, destined for the Nile River. This 82-guest vessel marks a pivotal construction milestone and is set to debut in Fall 2024. The Viking Sobek will offer a 12-day 'Pharaohs & Pyramids' itinerary, starting with a three-night stay in Cairo and followed by an eight-day cruise on the Nile, visiting historical sites like the Valley of the Kings and Abu Simbel. This ship is the sixth addition to Viking’s Egypt fleet, which includes the Viking Osiris and Viking Ra. Viking's CEO, Torstein Hagen, expressed excitement about expanding their offerings in Egypt, a historically rich and popular destination. The announcement follows accolades for Viking’s cruises, including mentions in Condé Nast Traveler and Forbes.
Viking announced the appointment of Carola Mengolini as the Vice President of Investor Relations, bringing 25 years of finance and investor relations experience to the role. Mengolini previously worked at The Royal Caribbean Group and holds a B.A. in Economics.
Viking Holdings announced the closing of its initial public offering of 73,647,916 ordinary shares at a public offering price of $24.00 per share. The company did not receive proceeds from the sale of shares by the selling shareholders. The ordinary shares started trading on the New York Stock Exchange under the symbol 'VIK'. BofA Securities and J.P. Morgan acted as lead underwriters for the offering.
