Lindblad Expeditions has trumped analysts' forecasts, thanks to a boost from Uncle Sam.
The Sven-Olof Lindblad-led expedition cruise player posted a $14.7m profit for the first quarter, up from $10.8m in earnings a year earlier.
Those results translated into diluted earnings per share (EPS) of $0.31 versus $0.24 during the same period last year, beating analysts' take of $0.21.
The higher profit was mainly due to a $3.1m tax benefit during the quarter, compared to a $0.3m tax expense in the year-ago time frame.
The company's stock reacted modestly to the news, gaining 1.1% to $16.16 after 45 minutes of trading today.
“Lindblad is off to another great start in 2019 as the strong momentum we generated throughout the last year and a half continued into the first quarter," chief executive Lindblad said.
"Demand for expedition travel has never been greater and with a proven track record of delivering high quality and immersive experiences, along with our long-standing partnership with National Geographic, we are generating booking strength from both loyal guests as well as those experiencing this type of travel for the first time."
Total revenue gained 9% to $89.7m, primarily due to $5.6m in top-line growth in its 14-ship Lindblad segment. Its tour segment, Natural Habitat, saw $1.7m more in revenue.
The company expects its full-year revenue to come in at $350m to $358m, 13% to 16% higher than revenue collected last year.
This year's bookings so far are 11% higher than at the same period in 2018.
