Viking Holdings Ltd reported strong top-line growth for the three months ended March 31, 2026, with revenue rising to $1,053.7 million from $897.1 million a year earlier. Cruise and land revenue grew on higher revenue per passenger cruise day and more passenger cruise days across both river and ocean products.
The company generated operating income of $12.1 million, compared with an operating loss previously, but still recorded a net loss of $54.2 million, roughly half the prior-year loss. Adjusted EBITDA improved to $104.8 million. Cash and cash equivalents increased to $4.0 billion, while total debt, net of fees, stood at about $5.6 billion, reflecting significant ongoing leverage.
Viking continues an ambitious fleet expansion, with $4,418.4 million of future shipbuilding commitments and new river, ocean and expedition vessels scheduled through the early 2030s. As of May 3, 2026, advance bookings totaled $6,225 million for the 2026 season and $3,403 million for 2027, with higher operating capacity and increased pricing per passenger cruise day supporting forward visibility.
Viking Holdings Ltd reported strong growth and a leadership transition for the first quarter of 2026. Leah Talactac, previously President and Chief Financial Officer, has been appointed Chief Executive Officer, while founder Torstein Hagen becomes Executive Chairman. The company also named Linh Banh as Chief Financial Officer.
Total revenue for the quarter rose 17.5% year over year to $1,053.7 million, driven by higher capacity and stronger pricing. Adjusted EBITDA increased 43.9% to $104.8 million, and net loss narrowed to $54.2 million from $105.5 million a year earlier, with diluted EPS improving to $(0.12).
Operational metrics were solid, with occupancy at 94.7% and Net Yield at $596, up 9.5%. As of May 3, 2026, Viking had sold 92% of Capacity Passenger Cruise Days for its 2026 Core Products season and 38% for 2027, supported by Advance Bookings of $6,225 million for 2026 and $3,403 million for 2027. The balance sheet showed $4.0 billion in cash and cash equivalents and Net Leverage of 1.0x, helped by strong operating cash flow and an S&P rating upgrade to BB+ for Viking Cruises Ltd.
Viking Holdings Ltd executive Jeffrey Dash reported an open-market sale of ordinary shares by his spouse under a pre-arranged plan. On this Form 4, the spouse sold 46,369 ordinary shares of Viking on April 14, 2026 at a weighted average price of $80.23 per share, with individual trade prices ranging from $80.00 to $80.56.
The filing notes that these transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by the spouse on December 11, 2025, indicating the sales were pre-scheduled. After the sale, the spouse continued to hold 420,022 ordinary shares indirectly associated with Dash, while Dash also held 209,089 ordinary shares directly, including 121,032 unvested restricted share units and 409 shares acquired under the company’s 2024 Employee Share Purchase Plan. Dash expressly disclaims beneficial ownership of the shares owned by his spouse.
Viking Holdings Ltd executive Jeffrey Dash reported an open-market sale of ordinary shares by his spouse. The spouse sold 28,631 shares on April 8, 2026 at a weighted average price of $80.22 per share under a pre-arranged Rule 10b5-1 trading plan adopted on December 11, 2025.
After the sale, the filing shows 466,391 ordinary shares held indirectly through the spouse and 209,089 ordinary shares held directly by Dash. The direct position includes 121,032 unvested restricted stock units and 409 shares acquired under the 2024 Employee Share Purchase Plan. Dash disclaims beneficial ownership of the spouse’s shares.
VIK reports proposed and recent dispositions of Ordinary shares under Rule 144, including a 75,000-item entry tied to Restricted Stock Units dated 04/30/2024. The filing lists three 10b5-1 sales: 29,342, 25,000, and 75,000 shares with the dates shown.
Viking Holdings Ltd has scheduled its 2026 Annual General Meeting of Shareholders for May 13, 2026 at 1:00 p.m. Eastern, to be held virtually at www.virtualshareholdermeeting.com/VIK2026. Shareholders of record as of March 16, 2026 can vote on eight director nominees, the appointment of Torstein Hagen as Chairman, and the reappointment of Ernst & Young AS as auditor.
As of the record date, there were 318.3 million ordinary shares and 127.8 million special shares outstanding, with Viking Capital Limited holding approximately 87% of the total voting power. The company highlights 2025 revenue of $6.5 billion, a 7.4% increase in Net Yields, a 22.6% increase in Adjusted Gross Margin, and 38.8% growth in Adjusted EBITDA, reflecting strong demand and operational performance.
Viking Holdings Ltd executive Jeffrey Dash reported an open-market sale of 25,000 Ordinary Shares associated with his spouse at a weighted average price of $75.15 per share. The trades were executed on March 25, 2026 in multiple transactions between $75.00 and $75.42 per share under a Rule 10b5-1 trading plan adopted by his spouse on December 11, 2025.
After these sales, the spouse’s indirect holdings reported for Dash total 495,022 Ordinary Shares. Dash also reports direct ownership of 208,680 Ordinary Shares, which includes 121,032 unvested restricted stock units, each representing a contingent right to receive one Ordinary Share. Dash disclaims beneficial ownership of the shares owned by his spouse.
VIK filed a Form 144 registering 25,000 Ordinary shares for sale.
The filing shows this class on the NYSE with a listed figure 317,907,301 (appearing alongside 03/25/2026). The excerpt also lists recent reported sales including a 10b5-1 sale by Minxuan Zhao of 75,000 shares on 03/12/2026 for $5,160,647.50 and a sale by Jeffrey Dash of 29,342 shares on 03/05/2026 for $2,151,468.24.
Viking Holdings Ltd director Jack Weingart filed an initial Form 3 reporting no securities beneficially owned. The filing shows a holding entry with total shares following the report listed as 0. This establishes his starting ownership position as a director at the time of the filing.
Viking Holdings Ltd director reports no holdings
Viking Holdings Ltd director Paul Hackwell filed an initial insider ownership report indicating that he does not beneficially own any company securities. The filing shows total shares owned following the report as zero, meaning he currently reports no direct equity stake in Viking.