SiteOne Landscape Supply, Inc. Announces Second Quarter 2025 Earnings Release Date and Conference Call
Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at http://investors.siteone.com. The online replay will be available on the same website immediately following the call.
The conference call can also be accessed by dialing 877-704-4453 (domestic) or 201-389-0920 (international), or by clicking on this link for instant telephone access to the call. A telephonic replay will be available approximately three hours after the call by dialing 844-512-2921, or for international callers, 412-317-6671. The passcode for the replay is 13754709. The replay will be available until 11:59 p.m. (ET) on August 13, 2025.
About SiteOne Landscape Supply, Inc.
SiteOne Landscape Supply, Inc. (NYSE: SITE), is the largest and only national full product line wholesale distributor of landscape supplies in the United States and has an established presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. https://www.siteone.com/
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LOS ANGELES, August 19, 2025--(BUSINESS WIRE)--Viking Holdings Ltd (the "Company" or "Viking") (NYSE: VIK) today reported financial results for the second quarter ended June 30, 2025. Key Highlights Total revenue was $1,880.4 million for the second quarter of 2025, an increase of 18.5% compared to the same period in 2024. Gross margin increased 22.3% and Adjusted Gross Margin increased 19.2% compared to the same period in 2024. Net Yield was $607, an increase of 8.0% compared to the same period in 2024. Adjusted EBITDA was $632.9 million, an increase of 28.5% compared to the same period in 2024. Diluted EPS and Adjusted EPS were $0.99. Net Leverage was 2.1x as of June 30, 2025. As of August 10, 2025, for its Core Products, Viking had sold 96% of its Capacity Passenger Cruise Days for the 2025 season and 55% of its Capacity Passenger Cruise Days for the 2026 season. "We delivered another quarter of great results, further underscoring the strength of our business model and of our core guest demographic," said Torstein Hagen, Chairman and CEO of Viking. "In the second quarter, our revenue increased 18.5% and our Adjusted EBITDA increased 28.5% year-over-year, reflecting continued solid demand for our destination-focused travel experiences. We are also pleased to have successfully taken delivery of two new ships, an achievement made possible due to the dedication of our team and the sustained momentum of the Viking brand as we execute on our long-term growth strategy." Second Quarter 2025 Consolidated Results During the second quarter of 2025, Capacity PCDs increased by 8.8% over the same period in 2024. This increase was mainly driven by the growth in the Company's fleet, which included three additional river vessels, one additional ocean ship and the Viking Yi Dun accommodation agreement. Occupancy for the second quarter of 2025 was 95.6%. Total revenue for the second quarter of 2025 was $1,880.4 million, an increase of $293.1 million, or 18.5% over the same period in 2024 mainly driven by increased Capacity PCDs, higher Occupancy and higher revenue per PCD in 2025 compared to 2024. Gross margin for the second quarter of 2025 was $803.1 million, an increase of $146.7 million, or 22.3%, over the same period in 2024 and Adjusted Gross Margin for the second quarter of 2025 was $1,236.9 million, an increase of $199.2 million, or 19.2%, over the same period in 2024. Net Yield was $607 for the second quarter of 2025, up 8.0% year-over year. For the second quarter of 2025, vessel operating expenses were $377.7 million and vessel operating expenses excluding fuel were $334.5 million. Compared to the same period in 2024, vessel operating expenses increased $48.7 million, or 14.8%, and vessel operating expenses excluding fuel increased $50.4 million, or 17.7% mainly driven by the increase in the size of the Company's fleet in 2025 compared to 2024. Net income for the second quarter of 2025 was $439.2 million compared to $159.8 million for the same period in 2024. The second quarter of 2024 includes a loss of $123.0 million from the revaluation of warrants issued by the Company, due to stock price appreciation. It also includes a loss of $65.8 million related to the net impact of the Private Placement derivative loss and interest expense related to the Company's Series C Preference Shares. These converted into ordinary shares immediately prior to the consummation of the Company's IPO. Adjusted Net Income attributable to Viking Holdings Ltd for the second quarter of 2025 was $439.0 million compared to $349.1 million for the same period in 2024. Adjusted EBITDA was $632.9 million, an increase of $140.4 million, or 28.5% over the same period in 2024. The increase in Adjusted EBITDA was mainly driven by increased Capacity PCDs, higher Occupancy and higher revenue per PCD. Diluted EPS and Adjusted EPS were $0.99 for the second quarter of 2025, compared to Diluted EPS of $0.38 and Adjusted EPS of $0.80 for the same period in 2024. Update on Operating Capacity and Bookings For our Core Products, operating capacity is 12% higher for the 2025 season compared to the 2024 season and 9% higher for the 2026 season compared to the 2025 season. As of August 10, 2025, for our Core Products, we had sold 96% of our Capacity PCDs for the 2025 season and 55% for the 2026 season. We had $5,638 million of Advance Bookings for the 2025 season, 21% higher than the 2024 season at the same point in time; and we had $3,883 million of Advance Bookings for the 2026 season, 13% higher than the 2025 season at the same point in time. Advance Bookings per PCD for the 2025 season was $784, 7% higher than the 2024 season at the same point in time, and Advance Bookings per PCD for the 2026 season was $866, 4% higher than the 2025 season at the same point in time. "Our positive momentum is reflected by the Advance Bookings, with 96% of our 2025 capacity of our Core Products already sold and 55% for 2026," said Leah Talactac, President and CFO of Viking. "Looking ahead, we remain committed to growing our business by adding capacity and providing new experiences such as the recent launch of itineraries in India. This approach supports the demand for unique, culturally immersive travel experiences while driving top-line growth and long-term margin expansion." Balance Sheet and Liquidity As of June 30, 2025: The Company had $2.6 billion in cash and cash equivalents and an undrawn revolver facility of $375.0 million. Scheduled principal payments are $141.8 million for the remainder of 2025 and $257.8 million for 2026. Deferred revenue was $4.4 billion. New Build and Capacity Since our first quarter 2025 earnings release, the Company: Took delivery of the Viking Vesta, an ocean ship. Took delivery of the Viking Amun, a river vessel that will operate in Egypt. Announced it would start operating two river vessels in India, with the first launching in 2027 and the second in 2028. Based on the committed orderbook, the Company expects to take delivery of six river vessels during the remainder of 2025. Conference Call Information The Company has scheduled a conference call for Tuesday, August 19, 2025, at 8 a.m. Eastern Time to discuss second quarter 2025 results and provide a business update. A link to the live webcast can be found on the Company's Investor Relations website at A replay of the conference call will also be available on the same website for 30 days after the call. About Viking Viking was founded in 1997 and provides destination-focused journeys on rivers, oceans, and lakes around the world. Designed for curious travelers with interests in science, history, culture and cuisine, Chairman and CEO Torstein Hagen often says Viking offers experiences for The Thinking Person™. Viking has more than 450 awards to its name, including being rated #1 for Rivers, #1 for Oceans and #1 for Expeditions by Condé Nast Traveler in the 2023 and 2024 Readers' Choice Awards. Viking is also rated a "World's Best" for rivers, oceans and expeditions by Travel + Leisure. No other travel company has simultaneously received the same honors by both publications. For additional information, visit Definitions "Adjusted Earnings per Share" or "Adjusted EPS" represents Adjusted Net Income (Loss) attributable to Viking Holdings Ltd divided by Adjusted Weighted-Average Shares Outstanding. "Adjusted EBITDA" is EBITDA (consolidated net income (loss) adjusted for interest income, interest expense, income tax benefit (expense) and depreciation, amortization and impairment) as further adjusted for non-cash Private Placement derivative gains and losses, currency gains or losses, stock-based compensation expense and other financial income (loss) (which includes forward gains and losses, gain or loss on disposition of assets, certain non-cash fair value adjustments, restructuring charges and non-recurring items). "Adjusted Gross Margin" is gross margin adjusted for vessel operating expenses and ship depreciation and impairment. Gross margin is calculated pursuant to IFRS Accounting Standards as total revenue less total cruise operating expenses and ship depreciation and impairment. "Adjusted Net Income (Loss) attributable to Viking Holdings Ltd" represents net income (loss) attributable to Viking Holdings Ltd excluding certain items that we believe are not part of our primary operating business and are not an indication of our future earnings performance. We believe that interest expense and Private Placement derivatives gain (loss) related to our Series C Preference Shares, warrants gain (loss), debt extinguishment and modification costs, gain (loss) on embedded derivatives associated with debt and financial liabilities, impairment charges and reversals and certain other gains and losses are not a part of our primary operating business and are not an indication of our future earnings performance. "Adjusted Weighted-Average Shares Outstanding" represents the diluted weighted-average ordinary shares and special shares outstanding, adjusted for outstanding warrants and the impact of RSUs and stock options under the treasury stock method to the extent not included in diluted weighted-average ordinary shares outstanding, as further adjusted in 2024 to reflect the conversion of the Series C Preference Shares and preference shares as if it had occurred at the beginning of the year. "Advance Bookings" is the aggregate ticketed amount for guest bookings for our voyages at a specific point in time, and include bookings for cruises, land extensions and air. "Capacity Passenger Cruise Days" or "Capacity PCDs" is, with respect to any given period, a measurement of capacity that represents, for each ship operating during the relevant period, the number of berths multiplied by the number of Ship Operating Days, determined on an aggregated basis for all ships in operation during the relevant period. "Core Products" are Viking River, Viking Ocean, Viking Expedition and Viking Mississippi, which are marketed to North America, the United Kingdom, Australia and New Zealand. "Diluted Earnings Per Share" or "Diluted EPS" is diluted net income (loss) per share attributable to ordinary and special shares. "IFRS Accounting Standards" are the IFRS® Accounting Standards as issued by the International Accounting Standards Board. "Net Debt" is Total Debt plus lease liabilities net of cash and cash equivalents. "Net Leverage" is Net Debt divided by trailing four quarter Adjusted EBITDA. "Net Yield" is Adjusted Gross Margin divided by PCDs. "Occupancy" is the ratio, expressed as a percentage, of PCDs to Capacity PCDs with respect to any given period. We do not allow more than two passengers to occupy a two-berth stateroom. Additionally, we have guests who choose to travel alone and are willing to pay higher prices for single occupancy in a two-berth stateroom. As a result, our Occupancy cannot exceed 100%, and may be less than 100%, even if all our staterooms are booked. "Passenger Cruise Days" or "PCDs" is the number of passengers carried for each cruise, with respect to any given period and for each ship operating during the relevant period, multiplied by the number of Ship Operating Days. "Ship Operating Days" is the number of days within any given period that a ship is in service and carrying cruise passengers, determined on an aggregated basis for all ships in operation during the relevant period. "Total Debt" is indebtedness outstanding, gross of loan fees, excluding lease liabilities, Private Placement liabilities and Private Placement derivatives. "Vessel operating expenses excluding fuel" is vessel operating expenses less fuel expense. Non-IFRS Accounting Standards Financial Measures We use certain non-IFRS Accounting Standards financial measures, such as Adjusted Gross Margin, Net Yield, Adjusted EBITDA, Adjusted Net Income (Loss) attributable to Viking Holdings Ltd and Adjusted EPS, to analyze our performance. We present Adjusted EBITDA as a performance measure because we believe it facilitates a comparison of our consolidated operating performance on a consistent basis from period-to-period and provides for a more complete understanding of factors and trends affecting our business than measures under IFRS Accounting Standards can provide alone. We also believe that Adjusted EBITDA is useful to investors in evaluating our operating performance because it provides a means to evaluate the operating performance of our business on an ongoing basis using criteria that our management uses for evaluation and planning purposes. Because Adjusted EBITDA facilitates internal comparisons of our historical financial position and consolidated operating performance on a more consistent basis, our management also uses Adjusted EBITDA in measuring our performance relative to that of our competitors, assessing our ability to incur and service our indebtedness and in communications with our board of directors concerning our operating performance. We utilize Adjusted Gross Margin and Net Yield to manage our business because these measures reflect revenue earned net of certain direct variable costs. We also present certain non-IFRS Accounting Standards financial measures because we believe that they are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance and liquidity. Our non-IFRS Accounting Standards financial measures have limitations as analytical tools, may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for analysis of our operating results as reported under IFRS Accounting Standards. See "Definitions" for additional information about our non-IFRS Accounting Standards financial measures and "Non-IFRS Accounting Standards Reconciling Information" for a reconciliation for each non-IFRS Accounting Standards financial measure to the most directly comparable IFRS Accounting Standards financial measure. Cautionary Statement Concerning Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the U.S. federal securities laws intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including among others, statements relating to our future financial performance, our business prospects and strategy, our expected fleet additions, our anticipated financial position, liquidity and capital needs and other similar matters. In some cases, we have identified forward-looking statements in this press release by using words such as "anticipates," "estimates," "expects," "intends," "plans" and "believes," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict or which are beyond our control. You should not place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by us, or on our behalf. Our actual results may differ materially from those expressed in, or implied by, the forward-looking statements included in this press release as a result of various factors, which are described in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. All forward-looking statements attributable to us are expressly qualified by these cautionary statements. VIKING HOLDINGS LTD INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in USD and thousands, except per share data, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenue Cruise and land $ 1,755,197 $ 1,480,539 $ 2,590,162 $ 2,145,823 Onboard and other 125,170 106,722 187,261 159,593 Total revenue 1,880,367 1,587,261 2,777,423 2,305,416 Cruise operating expenses Commissions and transportation costs (400,996 ) (346,080 ) (576,680 ) (483,488 ) Direct costs of cruise, land and onboard (242,448 ) (203,523 ) (350,477 ) (288,950 ) Vessel operating (377,658 ) (328,998 ) (687,606 ) (610,088 ) Total cruise operating expenses (1,021,102 ) (878,601 ) (1,614,763 ) (1,382,526 ) Other operating expenses Selling and administration (248,293 ) (220,593 ) (492,155 ) (440,411 ) Depreciation and amortization (65,440 ) (61,773 ) (134,240 ) (127,315 ) Total other operating expenses (313,733 ) (282,366 ) (626,395 ) (567,726 ) Operating income 545,532 426,294 536,265 355,164 Non-operating income (expense) Interest income 19,708 14,738 39,897 33,207 Interest expense (83,978 ) (96,024 ) (170,682 ) (209,656 ) Currency (loss) gain (37,245 ) 1,382 (62,852 ) 10,180 Private Placement derivative loss — (57,568 ) — (364,214 ) Other financial loss (184 ) (121,568 ) (1,080 ) (146,523 ) Income (loss) before income taxes 443,833 167,254 341,548 (321,842 ) Income tax expense (4,596 ) (7,486 ) (7,763 ) (9,092 ) Net income (loss) $ 439,237 $ 159,768 $ 333,785 $ (330,934 ) Net income (loss) attributable to Viking Holdings Ltd $ 439,048 $ 159,619 $ 333,575 $ (331,379 ) Net income attributable to non-controlling interests $ 189 $ 149 $ 210 $ 445 Weighted-average ordinary and special shares outstanding (in thousands) Basic 443,227 364,787 443,070 293,362 Diluted 445,549 367,188 445,308 293,362 Net income (loss) per share attributable to ordinary and special shares Basic $ 0.99 $ 0.38 $ 0.75 $ (0.78 ) Diluted $ 0.99 $ 0.38 $ 0.75 $ (0.78 ) VIKING HOLDINGS LTD INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (LOSS) (in USD and thousands, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net income (loss) $ 439,237 $ 159,768 $ 333,785 $ (330,934 ) Other comprehensive income (loss) Other comprehensive income (loss) to be reclassified to net income (loss) in subsequent periods: Exchange differences on translation of foreign operations 2,307 1,186 2,931 3,850 Net change in cash flow hedges 72,618 (5,750 ) 111,046 (19,017 ) Net other comprehensive income (loss) to be reclassified to net income (loss) in subsequent periods 74,925 (4,564 ) 113,977 (15,167 ) Other comprehensive income (loss), net of tax 74,925 (4,564 ) 113,977 (15,167 ) Total comprehensive income (loss) $ 514,162 $ 155,204 $ 447,762 $ (346,101 ) Total comprehensive income (loss) attributable to Viking Holdings Ltd $ 513,969 $ 155,058 $ 447,547 $ (346,535 ) Total comprehensive income attributable to non-controlling interests $ 193 $ 146 $ 215 $ 434 VIKING HOLDINGS LTD INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in USD and thousands, unaudited) June 30, 2025 December 31, 2024 (audited) Assets Non-current assets Property, plant and equipment and intangible assets $ 7,168,733 $ 6,457,104 Right-of-use assets 248,839 263,424 Deferred tax assets 57,629 55,428 Other non-current assets 180,895 128,190 Total non-current assets 7,656,096 6,904,146 Current assets Cash and cash equivalents 2,605,013 2,489,672 Accounts and other receivables 171,264 239,018 Inventories 92,074 91,473 Prepaid expenses and other current assets 593,120 396,376 Total current assets 3,461,471 3,216,539 Total assets $ 11,117,567 $ 10,120,685 Shareholders' equity and liabilities Shareholders' equity $ 278,320 $ (218,977 ) Non-current liabilities Long-term portion of bank loans and financial liabilities 2,142,955 1,823,657 Secured Notes 1,018,462 1,017,501 Long-term portion of Unsecured Notes 2,027,023 2,025,001 Long-term portion of lease liabilities 191,916 207,594 Other non-current liabilities 51,823 45,344 Total non-current liabilities 5,432,179 5,119,097 Current liabilities Accounts payables 287,101 236,382 Short-term portion of bank loans and financial liabilities 249,846 220,116 Short-term portion of Unsecured Notes — 249,650 Short-term portion of lease liabilities 28,606 28,944 Deferred revenue 4,391,420 4,061,344 Accrued expenses and other current liabilities 450,095 424,129 Total current liabilities 5,407,068 5,220,565 Total shareholders' equity and liabilities $ 11,117,567 $ 10,120,685 VIKING HOLDINGS LTD INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in USD and thousands, unaudited) Six Months Ended June 30, 2025 2024 Cash flows from operating activities Net income (loss) $ 333,785 $ (330,934 ) Adjustments to reconcile net income (loss) to net cash flows Depreciation and amortization 134,240 127,315 Amortization of debt transaction costs 14,022 16,815 Private Placement derivative loss — 364,214 Foreign currency loss (gain) on loans 73,696 (20,125 ) Non-cash financial loss — 145,317 Stock based compensation expense 36,365 7,058 Interest income (39,897 ) (33,207 ) Interest expense 156,660 192,841 Other (1 ) (442 ) Changes in working capital: Increase in deferred revenue 330,076 336,774 Changes in other liabilities and assets 18,164 90,888 (Increase) decrease in inventories (601 ) 1,956 Changes in deferred tax assets and liabilities 3,116 6,040 Changes in other non-current assets and other non-current liabilities 3,184 (16,760 ) Income taxes paid (4,243 ) (4,931 ) Net cash flow from operating activities 1,058,566 882,819 Cash flows from investing activities Investments in property, plant and equipment and intangible assets (814,382 ) (251,828 ) Capital contribution to associated company (6,500 ) (4,000 ) Prepayment for vessel charter — (1,050 ) Other 1 442 Interest received 31,114 35,603 Net cash flow used in investing activities (789,767 ) (220,833 ) Cash flows from financing activities Repayment of borrowings (372,886 ) (206,874 ) Proceeds from borrowings 430,507 — Transaction costs incurred for borrowings (41,912 ) (4,698 ) Proceeds from initial public offering, net of underwriting discounts and commissions, and offering expenses — 243,927 Taxes paid related to net share settlement of equity awards — (124,109 ) Dividend distribution — (18,229 ) Dividend distribution by subsidiary to non-controlling interests (867 ) (720 ) Proceeds from exercise of stock options 9,600 — Principal payments for lease liabilities (17,451 ) (12,574 ) Interest payments for lease liabilities (9,546 ) (10,601 ) Interest paid (159,126 ) (197,186 ) Net cash flow used in financing activities (161,681 ) (331,064 ) Change in cash and cash equivalents 107,118 330,922 Effect of exchange rate changes on cash and cash equivalents 8,223 (2,493 ) Net increase in cash and cash equivalents $ 115,341 $ 328,429 Cash and cash equivalents at January 1 $ 2,489,672 $ 1,513,713 Cash and cash equivalents at June 30 2,605,013 1,842,142 Net increase in cash and cash equivalents $ 115,341 $ 328,429 The following table sets forth selected statistical and operating data on a consolidated basis: Statistical and Operating Data Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) Consolidated Vessels operated (a) 90 85 90 85 Passengers 224,643 201,317 328,125 291,766 PCDs 2,038,772 1,846,709 3,165,630 2,821,686 Capacity PCDs 2,131,907 1,958,860 3,324,274 2,996,484 Occupancy 95.6 % 94.3 % 95.2 % 94.2 % Adjusted Gross Margin (in thousands) $ 1,236,923 $ 1,037,658 $ 1,850,266 $ 1,532,978 Net Yield $ 607 $ 562 $ 584 $ 543 Vessel operating expenses (in thousands) $ 377,658 $ 328,998 $ 687,606 $ 610,088 Vessel operating expenses excluding fuel (in thousands) $ 334,518 $ 284,099 $ 602,753 $ 523,136 Vessel operating expenses per Capacity PCD $ 177 $ 168 $ 207 $ 204 Vessel operating expenses excluding fuel per Capacity PCD $ 157 $ 145 $ 181 $ 175 (a) Vessels operated includes chartered vessels and the Viking Yi Dun, which operated for Asia Outbound sailings for the three and six months ended June 30, 2025. Vessels operated does not include the Viking Vesta, which began operating in July 2025. The following table sets forth selected statistical and operating data for Viking River and for Viking Ocean: Statistical and Operating Data Six Months Ended June 30, 2025 2024 (unaudited) Viking River Vessels operated (a) 72 69 Passengers 163,246 150,574 PCDs 1,266,976 1,167,491 Capacity PCDs 1,325,272 1,232,728 Occupancy 95.6 % 94.7 % Adjusted Gross Margin (in thousands) $ 768,432 $ 663,672 Net Yield $ 607 $ 568 Viking Ocean Vessels operated (b) 10 9 Passengers 133,622 119,152 PCDs 1,610,785 1,445,002 Capacity PCDs 1,692,818 1,522,410 Occupancy 95.2 % 94.9 % Adjusted Gross Margin (in thousands) $ 887,545 $ 710,569 Net Yield $ 551 $ 492 (a) Vessels operated includes chartered vessels. (b) Vessels operated does not include the Viking Vesta, which began operating in July 2025. Non-IFRS Accounting Standards Reconciling Information The following table reconciles gross margin, the most directly comparable IFRS Accounting Standards measure, to Adjusted Gross Margin for the three and six months ended June 30, 2025 and 2024 on a consolidated basis, for Viking River and Viking Ocean: Three Months Ended Six Months Ended Consolidated June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands) Total revenue $ 1,880,367 $ 1,587,261 $ 2,777,423 $ 2,305,416 Total cruise operating expenses (1,021,102 ) (878,601 ) (1,614,763 ) (1,382,526 ) Ship depreciation (56,151 ) (52,259 ) (114,043 ) (106,988 ) Gross margin 803,114 656,401 1,048,617 815,902 Ship depreciation 56,151 52,259 114,043 106,988 Vessel operating 377,658 328,998 687,606 610,088 Adjusted Gross Margin $ 1,236,923 $ 1,037,658 $ 1,850,266 $ 1,532,978 Six Months Ended Viking River June 30, 2025 2024 (unaudited) (in thousands) Total revenue $ 1,235,802 $ 1,057,178 Total cruise operating expenses (745,508 ) (650,782 ) Ship depreciation (36,027 ) (38,937 ) Gross margin 454,267 367,459 Ship depreciation 36,027 38,937 Vessel operating 278,138 257,276 Adjusted Gross Margin $ 768,432 $ 663,672 Six Months Ended Viking Ocean June 30, 2025 2024 (unaudited) (in thousands) Total revenue $ 1,271,869 $ 1,020,905 Total cruise operating expenses (698,170 ) (580,285 ) Ship depreciation (60,905 ) (50,757 ) Gross margin 512,794 389,863 Ship depreciation 60,905 50,757 Vessel operating 313,846 269,949 Adjusted Gross Margin $ 887,545 $ 710,569 The following table reconciles vessel operating expenses excluding fuel to vessel operating expenses, the most directly comparable IFRS Accounting Standards measure, for the three and six months ended June 30, 2025 and 2024: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands) Vessel operating expenses $ 377,658 $ 328,998 $ 687,606 $ 610,088 Fuel expense (43,140 ) (44,899 ) (84,853 ) (86,952 ) Vessel operating expenses excluding fuel $ 334,518 $ 284,099 $ 602,753 $ 523,136 The following table reconciles net income (loss), the most directly comparable IFRS Accounting Standards measure, to Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands) Net income (loss) $ 439,237 $ 159,768 $ 333,785 $ (330,934 ) Interest income (19,708 ) (14,738 ) (39,897 ) (33,207 ) Interest expense 83,978 96,024 170,682 209,656 Income tax expense 4,596 7,486 7,763 9,092 Depreciation and amortization 65,440 61,773 134,240 127,315 EBITDA 573,543 310,313 606,573 (18,078 ) Private Placement derivative loss — 57,568 — 364,214 Warrants loss — 123,019 — 146,730 Other financial income — (497 ) — (1,604 ) Currency loss (gain) 37,245 (1,382 ) 62,852 (10,180 ) Stock based compensation expense 22,157 3,540 36,365 7,058 Adjusted EBITDA $ 632,945 $ 492,561 $ 705,790 $ 488,140 The following tables show the calculation of Adjusted EPS for the three and six months ended June 30, 2025 and 2024. Additionally, the following tables reconcile net income (loss) attributable to Viking Holdings Ltd, the most directly comparable IFRS Accounting Standards measure, to Adjusted Net Income (Loss) attributable to Viking Holdings Ltd and diluted weighted-average ordinary shares and special shares outstanding, the most directly comparable IFRS Accounting Standards measure, to Adjusted Weighted-Average Shares Outstanding for the three and six months ended June 30, 2025 and 2024: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands, except Adjusted EPS) Adjusted Net Income attributable to Viking Holdings Ltd $ 439,048 $ 349,116 $ 333,575 $ 211,179 Adjusted Weighted-Average Shares Outstanding 445,549 435,702 445,308 426,979 Adjusted EPS $ 0.99 $ 0.80 $ 0.75 $ 0.49 Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands) Net income (loss) attributable to Viking Holdings Ltd $ 439,048 $ 159,619 $ 333,575 $ (331,379 ) Interest expense and Private Placement derivatives loss related to Series C Preference Shares — 65,750 — 396,207 Warrants loss — 123,019 — 146,730 Gain (loss), net, for debt extinguishment and modification costs and embedded derivatives associated with debt and financial liabilities — 728 — (379 ) Adjusted Net Income attributable to Viking Holdings Ltd $ 439,048 $ 349,116 $ 333,575 $ 211,179 Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (unaudited) (unaudited) (in thousands) Weighted-average ordinary shares and special shares outstanding – Diluted 445,549 367,188 445,308 293,362 Outstanding warrants — 8,733 — 8,733 RSUs and stock options — — — 1,201 Assumed conversion of Series C Preference Shares and preference shares at the beginning of 2024 — 59,781 — 123,683 Adjusted Weighted-Average Shares Outstanding 445,549 435,702 445,308 426,979 The following table calculates Net Leverage for the twelve months ended June 30, 2025 and March 31, 2025: June 30, 2025 March 31, 2025 (unaudited) (in thousands, except Net Leverage) Long-term debt (a) $ 5,336,977 $ 4,963,842 Current portion of long-term debt (a) 275,337 486,941 Long-term portion of lease liabilities 191,916 194,882 Short-term portion of lease liabilities 28,606 28,588 Total 5,832,836 5,674,253 Less: Cash and cash equivalents (2,605,013 ) (2,765,555 ) Net Debt $ 3,227,823 $ 2,908,698 Adjusted EBITDA $ 1,565,952 $ 1,425,568 Net Leverage 2.1 x 2.0 x (a) All amounts are gross of fees. 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- Yahoo
Tesla Rival XPeng Deliveries Growth Accelerates To 103,181, Margins Expand
Chinese EV maker XPeng (NYSE:XPEV) reported its fiscal second-quarter results on Tuesday. The company reported quarterly sales growth of 125.3% year-on-year (Y/Y) to 18.27 billion Chinese yuan ($2.55 billion), topping the analyst consensus estimate of 17.92 billion Chinese yuan. The Tesla (NASDAQ:TSLA) rival's quarterly vehicle deliveries increased 241.6% Y/Y to 103,181, up 9.75% from 94,008 in the first physical sales network had 677 stores, covering 224 cities as of June 30, 2025. XPeng's self-operated charging station network reached 2,348 stations as of June 30, 2025, including 1,304 XPENG S4 and S5 ultra-fast charging stations. Revenues from vehicle sales increased 147.6% Y/Y to 16.88 billion Chinese yuan ($2.36 billion) due to higher deliveries. Gross margin was 17.3% versus 14.0% a year ago. Vehicle margin was 14.3% versus 6.4% a year ago, primarily attributable to the cost reduction and improvement in product mix of models. View more earnings on XPEV Operating loss for the quarter was 930 million Chinese yuan ($130 million). Adjusted net loss per ADS was 0.41 Chinese yuan versus the analyst consensus loss estimate of 1.06 Chinese yuan. In USD terms, the adjusted EPADS was a loss of 6 cents. The company held $6.64 billion in cash and equivalents as of June 30, 2025. Chairman and CEO Xiaopeng He said the company completed upgrades to its next-generation smart and electrification technology platforms. Vice Chairman and Co-President Hongdi Brian Gu noted that vehicle margin improved for eight consecutive quarters, climbing 3.8 percentage points sequentially to 14.3%, while overall gross margin reached a record 17.3%. Outlook XPENG projects third-quarter vehicle deliveries between 113,000 and 118,000 units, reflecting a surge of 142.8%-153.6% Y/Y. The company anticipates revenue of 19.6 billion Chinese yuan to 21.0 billion Chinese yuan, versus the analyst consensus estimate of 20.2 billion Chinese yuan. XPeng stock gained over 68% year-to-date despite intense rivalry from the likes of Tesla and Nio (NYSE:NIO). Price Action: XPEV stock is trading lower by 0.15% to $19.87 at last check Tuesday. Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Tesla Rival XPeng Deliveries Growth Accelerates To 103,181, Margins Expand originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Business Wire
12 minutes ago
- Business Wire
Herbalife CEO and CFO to Participate in Barclays Global Consumer Staples Conference on September 2
LOS ANGELES--(BUSINESS WIRE)--Herbalife Ltd. (NYSE: HLF), a premier health and wellness company, community and platform, today announced Stephan Gratziani, Chief Executive Officer, and John DeSimone, Chief Financial Officer, will participate in a fireside chat at the Barclays Global Consumer Staples Conference on Tuesday, September 2, 2025 at 4:30 p.m. ET (1:30 p.m. PT). A link to the live webcast will be available under the Investor Relations section of Herbalife's website at A replay of the webcast will also be available at the same website following the completion of the event and for six months thereafter. About Herbalife Ltd. Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people's lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life. For more information, visit
