Viking has sold more than half of its capacity for 2027, the line shared during its Q2 earnings call Wednesday.
The cruise line, which operates river, ocean and expedition sailings, updated investors on its Q2 results, including its 2027 outlook. The company is effectively sold out for the year with just 4% of capacity available for 2026. Its 2027 season is already 53% booked as of Aug. 9.
In the second quarter, the company reported a revenue of $2.1 billion, a 16% increase compared to the same period last year, even as the company saw a 17% increase in vessel operating costs. The increased cost of doing business did not include more expensive fuel, which Viking spent $46.4 million on in Q2, nearly 14% more compared to last year.
President and CEO Leah Talactac said the second quarter's results highlighted the "continued execution of our long-term strategy and the strength of the Viking brand."
CFO Linh Banh said the company was pleased by its 2027 booking data.
The impact of low water levels
Since reporting first-quarter earnings in May, Viking has added one ocean and four river ships to its fleet. It plans to take delivery of an additional ocean vessel and five river ships this year.
Talactac spoke at length about the impact that this summer's historically low water levels on the Rhine and Danube have had on operations.
Though the financial cost is yet to be seen beginning in the third quarter earnings update, Talactac shared that more than 50% of river capacity cruise days in Q3 were affected by low water. Executives avoided putting a number on the financial impact.
Viking has given some impacted guests future cruise vouchers, meaning that the financial hit will extend beyond 2026 as guests redeem the credits in 2027 and 2028. But rather than publicly lament eating the cost, Talactac reframed the decision as a way to bolster guest support and build long-term loyalty.