VIK · Viking Holdings Ltd

Viking Holdings Ltd reported strong first quarter 2026 results, with total revenue increasing 17.5% to $1,053.7 million, driven by a 6.6% increase in Capacity Passenger Cruise Days and higher revenue per PCD. Adjusted EBITDA surged 43.9% to $104.8 million, reflecting operational discipline and robust demand. Net loss improved to $54.2 million from $105.5 million in the prior year, while diluted EPS improved to $(0.12) from $(0.24). The company also announced a CEO transition: Leah Talactac, previously President and CFO, has been appointed CEO, effective immediately. Torstein Hagen, founder and former CEO, becomes Executive Chairman, focusing on long-term strategy. Linh Banh, EVP of Finance, succeeds Talactac as CFO. The leadership change underscores the depth of Viking's management team and its succession planning. Operationally, Viking is 92% booked for the 2026 season, with Advance Bookings up 13% year-over-year, and 38% booked for 2027, with Advance Bookings up 31%. Net leverage improved to 1.0x, and S&P upgraded Viking's corporate rating to BB+ in March 2026. The company continues to expand its fleet, with two ocean ships and nine river vessels expected in the remainder of 2026.