Delta’s adjusted second-quarter profit beat analysts’ expectations. Photo: charly triballeau/Agence France-Presse/Getty Images

Delta Air Lines DAL -0.09 %decrease; red down pointing triangle shares jumped as the airline expressed confidence after a rocky first half of the year and forecast a stronger third quarter than analysts expected.

Delta said in April that it was too hard to predict its performance for the rest of the year amid the specter of sweeping tariffs, sending shock waves through the industry. Demand tumbled as consumers worried about rising inflation and an uncertain economic outlook.

Now, Delta said travel demand has stabilized as consumers and businesses are gaining the clarity they need to make travel plans again. The airline is confident enough to make a new prediction, albeit one that is sharply lower than its original target. It expects earnings of $5.25 to $6.25 a share this year, down from the more than $7.35 a share it forecast in January.

Its shares rose about 12% Thursday.

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how travel and vacation providers stocks fared in Q1, starting with United Airlines (NASDAQ:UAL).

Airlines, hotels, resorts, and cruise line companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted from buying “things” (wasteful) to buying “experiences” (memorable). In addition, the internet has introduced new ways of approaching leisure and lodging such as booking homes and longer-term accommodations. Traditional airlines, hotel, resorts, and cruise line companies must innovate to stay relevant in a market rife with innovation.

The 19 travel and vacation providers stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 4.5% above.

Luckily, travel and vacation providers stocks have performed well with share prices up 14.1% on average since the latest earnings results.

United Airlines (NASDAQ:UAL)

Founded in 1926, United Airlines Holdings (NASDAQ:UAL) operates a global airline network, providing passenger and cargo air transportation services across domestic and international routes.

United Airlines reported revenues of $13.21 billion, up 5.4% year on year. This print exceeded analysts’ expectations by 0.6%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EPS estimates and a decent beat of analysts’ adjusted operating income estimates.

“Our strategy coming out of the COVID pandemic was simple: Build the best airline in the world to attract brand-loyal customers. The people of United Airlines have executed and built that airline,” said United CEO Scott Kirby.

United Airlines Total Revenue

Interestingly, the stock is up 18% since reporting and currently trades at $79.13.

Is now the time to buy United Airlines? Access our full analysis of the earnings results here, it’s free.

Best Q1: Lindblad Expeditions (NASDAQ:LIND)

Founded by explorer Sven-Olof Lindblad in 1979, Lindblad Expeditions (NASDAQ:LIND) offers cruising experiences to remote destinations in partnership with National Geographic.

Lindblad Expeditions reported revenues of $179.7 million, up 17% year on year, outperforming analysts’ expectations by 18.8%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Lindblad Expeditions Total Revenue

Lindblad Expeditions pulled off the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 22.9% since reporting. It currently trades at $11.20.

Looking back on travel and vacation providers stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Soho House (NYSE:SHCO) and its peers.

Airlines, hotels, resorts, and cruise line companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted from buying “things” (wasteful) to buying “experiences” (memorable). In addition, the internet has introduced new ways of approaching leisure and lodging such as booking homes and longer-term accommodations. Traditional airlines, hotel, resorts, and cruise line companies must innovate to stay relevant in a market rife with innovation.

The 20 travel and vacation providers stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 4% above.

Luckily, travel and vacation providers stocks have performed well with share prices up 25.6% on average since the latest earnings results.

Soho House (NYSE:SHCO)

Boasting fancy locations in hubs such as NYC and Miami, Soho House (NYSE:SHCO) is a global hospitality brand offering exclusive private member clubs, hotels, and restaurants.

Soho House reported revenues of $333.4 million, up 13.6% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a miss of analysts’ members estimates and full-year EBITDA guidance missing analysts’ expectations.

“Our third quarter results reflect the strength of our membership model. Membership revenues grew 17% year-on-year, while we achieved our highest ever quarterly Total revenues and Adjusted EBITDA. At the end of the period, we opened Soho Mews House in London, our 45th House, with great feedback from members. We have continued to see significant demand for other recent openings, including Sao Paulo, Mexico City and Portland,” said Andrew Carnie, CEO of Soho House & Co.

Soho House Total Revenue

Soho House delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 55.5% since reporting and currently trades at $7.65.

Read our full report on Soho House here, it’s free.

Best Q3: Lindblad Expeditions (NASDAQ:LIND)

Founded by explorer Sven-Olof Lindblad in 1979, Lindblad Expeditions (NASDAQ:LIND) offers cruising experiences to remote destinations in partnership with National Geographic.

Lindblad Expeditions reported revenues of $179.7 million, up 17% year on year, outperforming analysts’ expectations by 18.8%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the travel and vacation providers stocks, including Soho House (NYSE:SHCO) and its peers.

Airlines, hotels, resorts, and cruise line companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted from buying “things” (wasteful) to buying “experiences” (memorable). In addition, the internet has introduced new ways of approaching leisure and lodging such as booking homes and longer-term accommodations. Traditional airlines, hotel, resorts, and cruise line companies must innovate to stay relevant in a market rife with innovation.

The 20 travel and vacation providers stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 4.1% above.

Luckily, travel and vacation providers stocks have performed well with share prices up 25.6% on average since the latest earnings results.

Soho House (NYSE:SHCO)

Boasting fancy locations in hubs such as NYC and Miami, Soho House (NYSE:SHCO) is a global hospitality brand offering exclusive private member clubs, hotels, and restaurants.

Soho House reported revenues of $333.4 million, up 13.6% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a miss of analysts’ members estimates and full-year EBITDA guidance missing analysts’ expectations significantly.

“Our third quarter results reflect the strength of our membership model. Membership revenues grew 17% year-on-year, while we achieved our highest ever quarterly Total revenues and Adjusted EBITDA. At the end of the period, we opened Soho Mews House in London, our 45th House, with great feedback from members. We have continued to see significant demand for other recent openings, including Sao Paulo, Mexico City and Portland,” said Andrew Carnie, CEO of Soho House & Co.

Soho House Total Revenue

Soho House delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 55.5% since reporting and currently trades at $7.65.

Read our full report on Soho House here, it’s free.

Best Q3: Lindblad Expeditions (NASDAQ:LIND)

Founded by explorer Sven-Olof Lindblad in 1979, Lindblad Expeditions (NASDAQ:LIND) offers cruising experiences to remote destinations in partnership with National Geographic.

Lindblad Expeditions reported revenues of $179.7 million, up 17% year on year, outperforming analysts’ expectations by 18.8%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Norwegian Cruise Line (NYSE:NCLH) and the best and worst performers in the travel and vacation providers industry.

Airlines, hotels, resorts, and cruise line companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted from buying “things” (wasteful) to buying “experiences” (memorable). In addition, the internet has introduced new ways of approaching leisure and lodging such as booking homes and longer-term accommodations. Traditional airlines, hotel, resorts, and cruise line companies must innovate to stay relevant in a market rife with innovation.

The 19 travel and vacation providers stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 0.6% while next quarter’s revenue guidance was 4.6% above.

Luckily, travel and vacation providers stocks have performed well with share prices up 13.7% on average since the latest earnings results.

Norwegian Cruise Line (NYSE:NCLH)

With amenities like a full go-kart race track built into its ships, Norwegian Cruise Line (NYSE:NCLH) is a premier global cruise company.

Norwegian Cruise Line reported revenues of $2.13 billion, down 2.9% year on year. This print fell short of analysts’ expectations by 0.7%. Overall, it was a slower quarter for the company with a significant miss of analysts’ EPS estimates.

“We kicked off 2025 with solid first quarter results, demonstrating the continued momentum of our Charting the Course strategy in building a strong foundation for long-term success and delivering on our vision for guests to Vacation Better | Experience More,” said Harry Sommer, president and chief executive officer of

Norwegian Cruise Line Total Revenue

The stock is up 12.6% since reporting and currently trades at $19.56.

Read our full report on Norwegian Cruise Line here, it’s free.

Best Q1: Lindblad Expeditions (NASDAQ:LIND)

Founded by explorer Sven-Olof Lindblad in 1979, Lindblad Expeditions (NASDAQ:LIND) offers cruising experiences to remote destinations in partnership with National Geographic.

Lindblad Expeditions reported revenues of $179.7 million, up 17% year on year, outperforming analysts’ expectations by 18.8%. The business had an exceptional quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Lindblad Expeditions Total Revenue

Lindblad Expeditions pulled off the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 20.5% since reporting. It currently trades at $10.98.