Viking Holdings Q4 revenue beats estimates, helped by fleet expansion

Viking Holdings(Pembroke)

03/03/2026 12:10

Overview

Cruise operator's Q4 revenue rose 27.8%, beating analyst expectations

Adjusted EBITDA for Q4 increased 51.3%, beating analyst expectations

Company expanded fleet with six river vessels and two ocean ships

Outlook

For Core Products, Viking Holdings expects a 7% increase in operating capacity for 2026

Result Drivers

FLEET EXPANSION - Co added six river vessels and two ocean ships, boosting Capacity PCDs by 14.7%

HIGHER OCCUPANCY - Occupancy reached 95% in Q4, contributing to revenue growth

INCREASED REVENUE PER PCD - Higher revenue per PCD in 2025 compared to 2024 boosted total revenue

Company press release: ID:nBw8VXRcZa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$1.72 bln
$1.62 bln (12 Analysts)
Q4 EPS
$0.67
Q4 Net Income
$300.30 mln
Q4 Adjusted EBITDA
Beat
$462.80 mln
$404.50 mln (12 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the leisure & recreation peer group is "buy"

Wall Street's median 12-month price target for Viking Holdings Ltd is $77.00, about 4% above its March 2 closing price of $74.04

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)