Viking has announced that it is poised to sell out its entire 2026 inventory. During the recent third-quarter earnings call, the company revealed that 70% of its available capacity for the upcoming year has already been booked, translating to an impressive $4.9 billion in advanced bookings. This marks a consistent trend for Viking, as they reported a similar statistic last year, having sold 70% of their 2025 inventory by this same time.
Notably, river cruise bookings comprise a significant part of this revenue, amounting to $2.2 billion. For the third quarter, Viking’s total revenue approached $2 billion, reflecting a robust 19% increase year-over-year. The company operated at an extraordinary 96% capacity, effectively achieving a sellout status.
In terms of profitability, Viking posted a net income of $514 million for the third quarter, up from $379.7 million during the same period in 2024. Viking’s chairman and CEO, Torstein Hagen, attributed this growth to the deep loyalty of their guests, which fuels sustained and profitable growth for the company.
CEO Remarks on Industry Competition
Recently, Viking celebrated a significant milestone by launching its 100th ship. The company shows no signs of slowing down; two new river ships are expected to join the fleet by year-end, with plans for eight additional river ships and two ocean vessels in the coming year.
When questioned about new competitors like Celebrity Cruises entering the river cruising market, Hagen expressed confidence, stating that he doesn’t concern himself much with emerging rivals. He emphasized the strategic advantage of Viking’s docking locations—such as their prime spot by the Eiffel Tower in Paris—alongside a strong focus on destination-based experiences.
Opportunities for Future Growth
Looking forward, Hagen and Viking’s president and CFO, Leah Talactac, discussed potential avenues for future expansion. According to Talactac, Viking captures a substantial 24% of the luxury ocean market and over 50% of the river cruise market. She envisions further growth potential in ocean cruising, hinting at the possibility of venturing beyond the cruise sector.
Talactac remarked that if Viking considers branching out, it must align with the company’s existing portfolio and be readily scalable. She recalled the company’s earlier foray into land tours initiated in 2007, noting that while it was "not the right time" then, reviving such operations could be "certainly" feasible now.
"We are a much different company now than we were back then," Talactac stated, suggesting a renewed capability to handle such expansions.
Despite the allure of potential acquisitions within the cruise industry, Hagen indicated a disinterest in pursuing other cruise brands, implying that it would take an extraordinary circumstance to change this stance. "You should never say never but it’s not far from it," he noted, emphasizing the company’s current focus on organic growth.
Through these developments, Viking continues to solidify its position as a leader in the luxury cruise sector, driven by a combination of strategic foresight, a loyal customer base, and a commitment to enhancing its fleet and services.
