by Sarah Kuta
Last updated: 4:20 PM ET, Wed August 19, 2026
Viking is continuing to see strong demand for its cruises, with the company reporting double-digit revenue and profit growth in the second quarter and a strong booking position heading into 2027.
Viking Holdings Ltd. reported $2.19 billion in revenue for the quarter that ended June 30, a 16.5 percent increase from the same period last year. Adjusted EBITDA, a measure of operating profitability, climbed 18.2 percent to $748.4 million.
The results come as Viking continues to expand its fleet—and suggests the company is having little trouble filling that additional capacity.
As of August 9, Viking had sold 96 percent of its available passenger cruise days for its core products for the 2026 season. Looking further ahead, it had already sold 53 percent of its 2027 capacity, even though the company plans to increase capacity by 15 percent compared with 2026.
Bookings for 2027 were also running well ahead of the previous year. Viking reported $4.71 billion in advance bookings for the 2027 season, 21 percent more than it had booked for the 2026 season at the same point last year. Advance bookings per passenger cruise day were up 10 percent, reaching $958.
The figures point to both strong demand and continued pricing power for the cruise line. Viking's net yield—a measure of revenue generated per passenger cruise day—rose 6.2 percent year over year to $645 in the second quarter.
The company is also benefiting from a growing fleet. Capacity increased 10.9 percent during the second quarter compared with the same period in 2025, primarily as Viking added ships. Revenue, however, grew faster than capacity, increasing 16.5 percent.
Net income rose to $587.7 million, up from $439.2 million a year earlier, while diluted earnings per share increased to $1.31 from 99 cents.
“During the quarter, our revenue increased 16.5%, driving an 18.2% year-over-year increase in Adjusted EBITDA,” said Leah Talactac, Viking's president and chief executive officer, in a statement, pointing to what she described as continued strong demand for the company's destination-focused offerings.
Viking has continued to expand across both its ocean and river businesses. Since its previous earnings report, the company took delivery of the ocean ship Viking Mira and four river vessels: Viking Annar, Viking Fjolvar, Viking Dagur and Viking Ptah, the latter of which will operate in Egypt.
The company expects to take delivery of another ocean ship and five river vessels before the end of 2026. It has also exercised options for two additional ocean ships scheduled for delivery in 2032.
The expansion comes with a relatively strong balance sheet. Viking reported $4 billion in cash and cash equivalents as of June 30, along with an undrawn $1 billion revolving credit facility. Its net leverage ratio stood at 1.2 times.
For now, the company's booking position suggests that its growth strategy is being supported by continued consumer demand. Viking has already sold nearly all of its 2026 core-product capacity, while bookings for 2027 are building at a faster pace despite the company planning to add significantly more capacity.
“With 96% of our 2026 capacity for our Core Products already sold, we are in a strong position for the balance of the year,” Linh Banh, Viking's chief financial officer, said in a statement. “We are also very pleased with our booked position for 2027.”
The results offer another indication that demand for cruise travel remains strong, particularly for Viking's destination-focused river and ocean products. For the company, the challenge now appears less about finding passengers for its growing fleet and more about continuing to expand without sacrificing the product and pricing power that have fueled its recent growth.
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