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Operating Income by Segment
Reports profit after operating expenses for each segment, showing which parts of the business are truly profitable after day-to-day costs. Differences between operating income and EBITDA highlight where depreciation, amortization, or other operating costs materially affect true earnings.Operating income is showing pronounced seasonality: Lindblad (ship) profits spike in key sailing quarters and dip around dry/wet‑dock and holiday periods, while Land Experiences has turned into a steady, rapidly growing profit driver—Q3 performance has expanded year after year. Management’s guidance (mid‑single‑digit capacity growth, yield gains, and record bookings) supports further back‑loaded EBITDA upside, but near‑term operating income will be pressured by royalty step‑ups, lapping tax credits, higher marketing and dock timing, so early‑year gains may be muted.
Date | Lindblad | Land Experiences |
|---|---|---|
Jun 30, 2026 | $3.85M | $8.10M |
Mar 31, 2026 | $10.56M | $5.05M |
Dec 31, 2025 | -$12.50M | $6.99M |
Sep 30, 2025 | $13.24M | $22.73M |
Jun 30, 2025 | -$2.07M | $6.48M |
Mar 31, 2025 | $8.39M | $2.23M |
Dec 31, 2024 | -$13.02M | $5.45M |
Sep 30, 2024 | $11.68M | $17.80M |
Jun 30, 2024 | -$9.37M | $1.16M |
Mar 31, 2024 | $7.78M | $67.00K |