Shares of Lindblad Expeditions, the operator of the National Geographic cruise fleet, rocketed by 25% after it reported a nearly fourfold increase in quarterly earnings and revealed strong forward bookings.

The cruise operator delivered net income available to shareholders of $21.3m, compared with $4.54m a year earlier.

That brought earnings per share to $0.36, well above the average analyst estimate calling for $0.18. However, it is not clear if Wall Street expectations include adjustments not broken out by Lindblad Expeditions.

Forward bookings were 26% ahead of this time last year.

Chief executive Sven Lindblad said: “Lindblad delivered a record third quarter as we continue to generate strong operating results across both our fleet and expanded land experiences portfolio.

“Looking ahead, this strong growth is poised to continue as current year bookings for future travel have reached record levels.”

The New York-headquartered company reported a 9% jump in net yield per guest night.

Total tour revenue jumped to $206m from $176m a year earlier, while operating expenses rose to $177m from $156m.

The positive quarterly figures were not enough to lift the nine-month results out of the red.

Lindblad Expeditions reported a loss of $9.59m for the first three quarters, which was better than the $21.5m in red ink during the same period of 2023.

“Our focus continues to be on providing high-quality travel experiences and strategically expanding our travel platform to capture this demand,” Sven Lindblad said.

“We believe we are well positioned to deliver meaningful shareholder value in the years to come.”