Viking Holdings has reported financial results for the third quarter ended September 30, 2025.

Key Highlights

Viking celebrated the achievement of a 100-ship fleet milestone.

Total revenue was $1,999.6 million for the third quarter of 2025, an increase of 19.1% compared to the same period in 2024.

Gross margin increased 22.9% and Adjusted Gross Margin increased 21.4% compared to the same period in 2024.

Net Yield was $617, an increase of 7.1% compared to the same period in 2024.

Adjusted EBITDA was $703.5 million, an increase of 26.9% compared to the same period in 2024.

Diluted EPS was $1.15 and Adjusted EPS was $1.20.

Net Leverage improved from 2.1x as of June 30, 2025 to 1.6x as of September 30, 2025.

As of November 2, 2025, for its Core Products, Viking had sold 96% of its Cap

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