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EarningsQ2 2026 Earnings Report
VIK Q2 2026 EPS Results
Actual EPS$1.31
Consensus EPS$1.26
Beat/MissBeat by +$0.05
One Year Ago EPS$0.99
VIK Q2 2026 Revenue Results
Actual Revenue$2.19B
Expected Revenue$2.14B
Beat/MissBeat by +$51.18M
YoY Revenue Growth+16.49%
Earnings Announcement Details
QuarterQ2 2026
Date08/19/2026
TimeBefore Open
Conference CallWednesday, August 19, 2026
VIK Upcoming Earnings
Viking Holdings's next earnings date is estimated for November 25, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
VIK Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a largely positive operational and financial story: strong revenue, margin and EBITDA growth, high occupancy rates, robust advanced bookings for 2026 and 2027, continued fleet expansion, and a healthy balance sheet. The primary negative was the materially low European river water levels causing guest disruptions, voucher issuances and near-term cost uncertainty that will pressure results in Q3 and into future periods. Management framed these disruptions as operationally manageable given fleet design and experience but acknowledged financial impacts that are not yet fully quantified.Company Guidance
Strong Revenue Growth
Total revenue increased 16.5% year-over-year to $2.2 billion in Q2 2026, driven by higher capacity and revenue per passenger cruise day (PCD).
Significant Profitability Improvement
Adjusted EBITDA rose 18.2% year-over-year to $748 million in Q2 2026; adjusted net income attributable to Viking was $587 million, up 33.8%, and adjusted EPS was $1.31, up 33% versus prior year.
Improved Gross Margin and Net Yield
Adjusted gross margin increased 16.3% year-over-year to $1.4 billion in Q2 2026; consolidated net yield was $645, up 6.2% versus Q2 2025. Year-to-date adjusted gross margin rose 16.5% to over $2.1 billion.
Robust Booking Momentum and Visibility
Advanced bookings: 2026 core products ~96% sold; $6.4 billion advanced bookings (13% higher vs. prior season at same point) with capacity up 7%. For 2027 as of Aug 9: 53% of core capacity booked, $4.7 billion advanced bookings (21% higher vs. comparable prior season) and capacity +15%.
Segment-Level Strength and High Occupancy
River: occupancy 94.8%, net yield $660 (up 8.8% Y/Y), adjusted gross margin +11.3% Y/Y. Ocean: occupancy 95.4%, net yield $593 (up 7.7% Y/Y), adjusted gross margin +20.3% Y/Y.
Fleet Expansion Aligned with Growth
Continued fleet expansion: delivered 4 River vessels and 1 Ocean ship since last call; total expected deliveries in 2026 of 12 ships (10 River, 2 Ocean). Capacity PCDs increased ~10.9% in Q2 (fleet additions cited as major driver).
Healthy Balance Sheet and Liquidity
Cash and cash equivalents of $4.0 billion and an undrawn $1.0 billion revolver; net debt $2.4 billion with net leverage ~1.2x; deferred revenue $5.0 billion; bond maturities 2028 and beyond.
Demand for New Destinations and Product Enhancements
Strong demand for new itineraries and experiences: India itineraries sold out for 2027 and 2028; expanded shore/land extensions (e.g., Bernina Express St. Moritz extension, Zeppelin flight over Cologne) and growing China-focused product (Viking Yi Dun now sailing in Europe).
VIK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed