Jun 2026 (Q2 FY26) — Aug 19, 2026
Viking Q2 FY26 — Strong Bookings and Fleet Expansion Amidst River Challenges
Read the full callViking (VIK) earnings
- Jun 2026 (Q2 FY26)
- Dec 2025
Viking earnings: last reported Wed, 19 Aug 2026, for the quarter ended Jun 2026.
Guidance
What management said, and what became of it
6 of 9 judged targets kept · 24 open · verdicts reflect calls analysed to Mar 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Egypt itineraries paused only through the stated date | temporarily pausing Egypt itineraries through March 31, 2026 | Dec 2025 | for 2026, we did cancel a couple of weeks. It is selling well for 2027 | Achieved |
| Total committed ship CapEx for the year | about $1.2 billion, or $70 million net of financing | Jun 2025 | for the full year 2026, the total expected committed ship CapEx is about $1.9 billion or $650 million net of financing | Revised Down |
| Expansion of the China ocean programme with new itineraries including Japan | expand this program in 2025 with new itineraries that include Japan | Sep 2024 | Ghosted |
3 of Viking Holdings Ltd's 33 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 30 more targets are in the full ledger.
Claimed
- Total revenue increased 16.5% year-over-year to $2.2 billion.
- Adjusted EBITDA grew 18.2% year-over-year to $748 million.
- 2026 season is 96% booked, with advanced bookings up 13% year-over-year for a 7% capacity increase.
- 2027 season is 53% booked, with advanced bookings up 21% year-over-year for a 15% capacity increase.
- Net yield increased 6.2% year-over-year to $645 in Q2 FY26.
Qualified
- Historically low water levels in European rivers (Danube and Rhine) created operational challenges across the industry.
- Over 50% of Q3 River capacity PCDs were impacted by low water, with 10-12% ultimately canceling.
- Issuance of future cruise vouchers to affected guests will have a financial impact extending beyond 2026 into 2027 and 2028.
Price
$84.04 +0.74% · +$0.62
Performance +38.3% 1Y
1Y: $60.76 on 17 Oct 2025 → $84.04. High $108.26 (5 Aug 2026), low $57.08 (4 Nov 2025).
- Previous close
- $83.42
- 52-week range
- $57.08 – $108.26
- One year
- +38.20%
Overview
- Symbol
- VIK
- Sector
- Industrials
- Industry
- Water Transportation
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
6 of 9 judged targets kept · 24 open · verdicts reflect calls analysed to Mar 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Egypt itineraries paused only through the stated date | temporarily pausing Egypt itineraries through March 31, 2026 | Dec 2025 | for 2026, we did cancel a couple of weeks. It is selling well for 2027 | Achieved |
| Total committed ship CapEx for the year | about $1.2 billion, or $70 million net of financing | Jun 2025 | for the full year 2026, the total expected committed ship CapEx is about $1.9 billion or $650 million net of financing | Revised Down |
| Expansion of the China ocean programme with new itineraries including Japan | expand this program in 2025 with new itineraries that include Japan | Sep 2024 | Ghosted |
Claimed
- Total revenue increased 16.5% year-over-year to $2.2 billion.
- Adjusted EBITDA grew 18.2% year-over-year to $748 million.
- 2026 season is 96% booked, with advanced bookings up 13% year-over-year for a 7% capacity increase.
- 2027 season is 53% booked, with advanced bookings up 21% year-over-year for a 15% capacity increase.
- Net yield increased 6.2% year-over-year to $645 in Q2 FY26.
Qualified
- Historically low water levels in European rivers (Danube and Rhine) created operational challenges across the industry.
- Over 50% of Q3 River capacity PCDs were impacted by low water, with 10-12% ultimately canceling.
- Issuance of future cruise vouchers to affected guests will have a financial impact extending beyond 2026 into 2027 and 2028.
The full ledger
Open Viking Holdings Ltd’s full ledger
A free account opens 5 company ledgers a month. All 33 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 14, 2026
Viking Holdings Q1 FY26 — Strong Bookings and Leadership Transition
Read the full callDec 2025 (Q4 FY25) — Mar 3, 2026
Viking Holdings Ltd Q4 FY25 — Record Revenue and Strong Booking Momentum
Read the full callEvery analysed call
Viking earnings calls (VIK)
Financials
What the filings say
| Line item | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Total assets | — | 8,576 | 10,121 | 12,233 |
| Line item | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Cash from operations | 373 | 1,371 | 2,082 | 2,560 |
| Cash from investing | -842 | -634 | -854 | -949 |
| Cash from financing | -81 | -480 | -248 | -306 |
| Net cash flow | -560 | 261 | 976 | 1,314 |
VIK operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Change vs prior quarter |
|---|---|---|---|---|
| Fleet River | 85Today, our river fleet consists of 85 vessels operating on rivers across the globe from the Rhine to the Nile and from Danube to the Mekong.Source: earnings call transcript | 89Today, River Cruising has become a globally recognized way of travel and Viking with a fleet of 89 river vessels offer the most extensive and enriching collection of river itineraries across the world.Source: earnings call transcript | 89Today, our fleet consists of 89 river vessels, 12 ocean ships and 2 expedition ships, all share the unique Scandinavian design and deliver the consistency and quality that our guests expect from Viking.Source: earnings call transcript | 0% |
| Docking locations | 110Through years of strategic investments and partnerships, we now control or have priority access of 110 docking locations, giving us logical flexibility and the ability to deliver a consistent high-quality guest experience.Source: earnings call transcript | 113Today, we control or have priority access to 113 of the most coveted docking locations in various regions of the world.Source: earnings call transcript | — | +2.7% |
| Fleet Ocean | 12On the oceans, we now operate 12 small modern ships, all with 100% balcony staterooms and designed to be nearly identical.Source: earnings call transcript | 12True to that promise, our ocean itineraries with a fleet of 12 ships focus on cultural discovery and meaningful experiences, bring our guests closer to the world's most inspiring destinations.Source: earnings call transcript | 12Today, our fleet consists of 89 river vessels, 12 ocean ships and 2 expedition ships, all share the unique Scandinavian design and deliver the consistency and quality that our guests expect from Viking.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
30 filings between Mar 25, 2026 and Sep 11, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$39.62M
30 sales by 6 insiders
67% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Hofmann Anton | — | $26.26M | Jun 15, 2026 |
| Dash Jeffrey | — | $7.95M | Jun 1, 2026 |
| Marnell Richard | — | $2.19M | Jun 16, 2026 |
| Hugh Milton | — | $2.13M | Sep 11, 2026 |
| Talactac Leah | — | $545.1K | Jun 1, 2026 |
| Banh Linh | — | $545.1K | Jun 1, 2026 |
Latest filings (30)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 11, 2026 | Hugh Milton EVP, Sales | Sale 10b5-1 plan | 2,591 | $224.9K |
| Sep 11, 2026 | Hugh Milton EVP, Sales | Sale 10b5-1 plan | 6,509 | $560.5K |
| Sep 11, 2026 | Hugh Milton EVP, Sales | Sale 10b5-1 plan | 10,900 | $926.1K |
| Jun 16, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 14 | $1.3K |
| Jun 16, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 145 | $13.7K |
| Jun 15, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 92,670 | $8.83M |
| Jun 15, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 1,606 | $154.2K |
| Jun 15, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 100 | $9.6K |
| Jun 15, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 1,820 | $172.6K |
| Jun 15, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 4,200 | $394.9K |
| Jun 12, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 6,687 | $617.9K |
| Jun 12, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 400 | $37.9K |
| Jun 12, 2026 | Marnell Richard EVP, Marketing | Sale 10b5-1 plan | 4,200 | $392.2K |
| Jun 10, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 5,956 | $542.0K |
| Jun 9, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 65,283 | $5.96M |
| Jun 8, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 67,735 | $6.06M |
| Jun 8, 2026 | Hofmann Anton EVP, Group Operations | Sale 10b5-1 plan | 52,265 | $4.64M |
| Jun 1, 2026 | Marnell Richard EVP, Marketing | Sale | 2,949 | $268.5K |
| Jun 1, 2026 | Banh Linh Chief Financial Officer | Sale | 2,481 | $225.6K |
| Jun 1, 2026 | Banh Linh Chief Financial Officer | Sale | 3,480 | $319.5K |
| Jun 1, 2026 | Talactac Leah President and CEO | Sale | 2,522 | $229.4K |
| Jun 1, 2026 | Talactac Leah President and CEO | Sale | 3,439 | $315.8K |
| Jun 1, 2026 | Hugh Milton EVP, Sales | Sale | 2,610 | $238.6K |
| Jun 1, 2026 | Hugh Milton EVP, Sales | Sale | 2,000 | $183.9K |
| Jun 1, 2026 | Dash Jeffrey EVP, Business Development | Sale | 621 | $56.6K |
| Jun 1, 2026 | Hofmann Anton EVP, Group Operations | Sale | 621 | $56.6K |
| Jun 1, 2026 | Marnell Richard EVP, Marketing | Sale | 3,012 | $276.7K |
| Apr 14, 2026 | Dash Jeffrey EVP, Business Development | Sale 10b5-1 plan | 46,369 | $3.72M |
| Apr 8, 2026 | Dash Jeffrey EVP, Business Development | Sale 10b5-1 plan | 28,631 | $2.30M |
| Mar 25, 2026 | Dash Jeffrey EVP, Business Development | Sale 10b5-1 plan | 25,000 | $1.88M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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