Q1 2026 Viking Holdings Ltd(Pembroke) Earnings Call Transcript
Key Points
- Viking Holdings Ltd (VIK) reported a 17.5% year-over-year increase in total revenue for the first quarter, reaching over $1 billion.
- The company is already 92% booked for the 2026 season, indicating strong demand and forward visibility.
- Viking Holdings Ltd (VIK) has a robust order book with plans to expand its fleet, including the introduction of hydrogen-powered ships, showcasing its commitment to sustainability.
- The company has a strong liquidity position with $4 billion in cash and cash equivalents and an undrawn revolver of $1 billion.
- Viking Holdings Ltd (VIK) was named among Time's most influential companies, highlighting its impact and recognition in the travel and tourism sector.
- Higher fuel prices are expected to impact the company's financials as the year progresses, particularly affecting the ocean operations.
- The company experienced a temporary slowdown in bookings following geopolitical events, although demand has since rebounded.
- Vessel expenses excluding fuel per capacity PCD increased by 10.6% year-over-year, driven by repair and maintenance costs.
- The net loss for the first quarter was $54.2 million, although this was an improvement from the previous year.
- The company faces challenges in the macroeconomic environment, which could impact future booking trends and pricing strategies.
Good morning. My name is Paul, and I will be your conference operator today. At this time, I would like to welcome everyone to Viking's first-quarter 2026 earnings conference call. (Operator Instructions)
I would now like to turn the program to your host for today's conference, Vice President of Investor Relations, Carola Mengolini.
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Good morning, everyone, and welcome to Viking's first-quarter 2026 earnings conference call. I am joined by Tor Hagen, Executive Chairman; Lia Talactak, President and Chief Executive Officer; and Lynn Banh, Chief Financial Officer. Before we get started, please note our cautionary statement regarding forward-looking information.
During the call, management may discuss information that is forward-looking and involves known and unknown risks, uncertainties, and other factors, which may cause the actual results to be different than those expressed or implied. Please evaluate the forward
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