Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1280.0%
Neutral213.3%
Bearish16.7%
Viking Holdings Ltd · VIK · FY2026 Q2 · Calendar Q3 2026
Viking demand remains strong, but low water adds future earnings risk
The supplied analysis supports a constructive demand and growth picture for Viking, led by advanced bookings, fleet expansion, and ancillary offerings. The main counterweight is execution risk: low water levels, voucher liabilities, pricing, and rising operating costs could test the durability of earnings growth.
Reported Before market openNYSEConsumer Cyclical
$37.38B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.31
Consensus $1.26
EPS surprise
+4.0%
Reported versus consensus
Reported revenue
$2.19B
Consensus $2.14B
Revenue surprise
+2.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-7.7%
Event window
SPY move
+0.2%
Same window
Abnormal move
-7.9%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
-6.5%
Up to 20 sessions
VIKSPY benchmark
Ask FN2 about VIK FY2026 Q2
Transcript, numbers and history already loaded
Why did VIK fall 7.7% after beating EPS estimates in FY2026 Q2?What changed in VIK's guidance and outlook in FY2026 Q2?Give me the bull and bear case for VIK after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the supplied prior-quarter analysis, Q2 added evidence of stronger booking coverage and highlighted the operational and financial implications of low European river levels. Viking also exercised options for two additional ocean ships scheduled for 2032 and expanded land-extension and shore-excursion offerings.
Guidance delta
Guidance sentiment remained maintained; the supplied analysis does not identify a new numerical guidance change.
Key takeaways
- Q2 operating momentum was strong, with revenue and adjusted EBITDA growth highlighted in the supplied analysis.
- Bookings remain a central demand signal: 96% of 2026 capacity and 53% of 2027 capacity were booked.
- Fleet expansion, China outbound growth, India itineraries, land extensions, and shore excursions support the growth plan.
- Low water levels affected European river operations and created voucher liabilities that may affect earnings in 2027–2028.
Management priorities
- Build the 2027 order book while using dynamic pricing and a strong repeat-guest base.
- Deliver planned ships, expand the fleet pipeline, and prioritize organic, margin-accretive growth.
- Increase ancillary revenue through land extensions, shore excursions, and geographic expansion.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$85.68Current
$35Low
$86.29Average
$125High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 31, 2026 |
| Mizuho | Underperform | Underperform | Maintain | Aug 24, 2026 |
| Stifel | Buy | Buy | Maintain | Aug 20, 2026 |
| UBS | Buy | Buy | Maintain | Aug 19, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 5, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 31, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 21, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 17, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Jul 14, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 9, 2026 |
| Truist Securities | Buy | Hold | Upgrade | May 22, 2026 |
| Susquehanna | Positive | Positive | Maintain | May 15, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 27, 2026 |
| Rothschild & Co | Buy | Neutral | Upgrade | Apr 14, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jan 12, 2026 |
Named analyst price targets
Upside is calculated against the persisted current price $85.68. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $90 | $88.5 | +5.0% | Aug 31, 2026 |
| Mizuho Securities | Analyst unavailable | $82 | $93.98 | -4.3% | Aug 24, 2026 |
| Stifel Nicolaus | Steven Wieczynski | $120 | $90.77 | +40.1% | Aug 20, 2026 |
| UBS | Robin Farley | $121 | $98.68 | +41.2% | Aug 19, 2026 |
| Stifel Nicolaus | Analyst unavailable | $125 | $104.19 | +45.9% | Aug 13, 2026 |
| Goldman Sachs | Analyst unavailable | $120 | $104.35 | +40.1% | Aug 3, 2026 |
| Jefferies | Analyst unavailable | $115 | $98.07 | +34.2% | Jul 17, 2026 |
| Goldman Sachs | Analyst unavailable | $108 | $98.19 | +26.1% | Jul 14, 2026 |
| Morgan Stanley | Analyst unavailable | $93 | $98.76 | +8.5% | Jul 9, 2026 |
| Barclays | Analyst unavailable | $93 | $100.01 | +8.5% | Jul 8, 2026 |
| BMO Capital | Analyst unavailable | $115 | $100.01 | +34.2% | Jul 7, 2026 |
| Bernstein | Analyst unavailable | $120 | $89.53 | +40.1% | Jun 3, 2026 |
| Loop Capital Markets | Brandon Rolle | $108 | $92.11 | +26.1% | Jun 1, 2026 |
| UBS | Robin Farley | $100 | $91.4 | +16.7% | May 27, 2026 |
| Truist Financial | Analyst unavailable | $102 | $83.9 | +19.0% | May 22, 2026 |
| Wells Fargo | Analyst unavailable | $109 | $83.7 | +27.2% | May 18, 2026 |
| Stifel Nicolaus | Analyst unavailable | $105 | $84.67 | +22.5% | May 15, 2026 |
| Susquehanna | Christopher Stathoulopoulos | $105 | $86.72 | +22.5% | May 15, 2026 |
| Mizuho Securities | Analyst unavailable | $75 | $86.72 | -12.5% | May 15, 2026 |
| Goldman Sachs | Lizzie Dove | $95 | $86.72 | +10.9% | May 15, 2026 |
| Barclays | Analyst unavailable | $88 | $86.72 | +2.7% | May 15, 2026 |
| Morgan Stanley | Stephen Grambling | $86 | $86.72 | +0.4% | May 15, 2026 |
| Morgan Stanley | Analyst unavailable | $81 | $80.91 | -5.5% | May 12, 2026 |
| Wells Fargo | Analyst unavailable | $79 | $81.43 | -7.8% | Apr 15, 2026 |
| Redburn Partners | Analyst unavailable | $95 | $78.21 | +10.9% | Apr 14, 2026 |
| Barclays | Analyst unavailable | $76 | $76.88 | -11.3% | Apr 10, 2026 |
| UBS | Analyst unavailable | $83 | $72.57 | -3.1% | Mar 11, 2026 |
| Stifel Nicolaus | Steven Wieczynski | $90 | $76.02 | +5.0% | Mar 4, 2026 |
| Morgan Stanley | Stephen Grambling | $75 | $70.2 | -12.5% | Jan 16, 2026 |
| Jefferies | Analyst unavailable | $80 | $68.76 | -6.6% | Dec 15, 2025 |
| Goldman Sachs | Lizzie Dove | $78 | $66.68 | -9.0% | Dec 9, 2025 |
| UBS | Robin Farley | $79 | $67.54 | -7.8% | Dec 4, 2025 |
| Truist Financial | Analyst unavailable | $61 | $67.28 | -28.8% | Dec 2, 2025 |
| Jefferies | David Katz | $60 | $61.21 | -30.0% | Nov 20, 2025 |
| Goldman Sachs | Analyst unavailable | $66 | $62.56 | -23.0% | Nov 20, 2025 |
| Wells Fargo | Trey Bowers | $62 | $60.64 | -27.6% | Nov 20, 2025 |
| Barclays | Brandt Montour | $63 | $61.21 | -26.5% | Nov 20, 2025 |
| Mizuho Securities | Ben Chaiken | $59 | $61.21 | -31.1% | Nov 19, 2025 |
| UBS | Robin Farley | $69 | $58.88 | -19.5% | Nov 14, 2025 |
| Mizuho Securities | Analyst unavailable | $54 | $59.22 | -37.0% | Oct 10, 2025 |
| Barclays | Brandt Montour | $62 | $61.03 | -27.6% | Oct 3, 2025 |
| Stifel Nicolaus | Steven Wieczynski | $50 | $43.08 | -41.6% | May 21, 2025 |
| Northcoast Research | Analyst unavailable | $51 | $40.55 | -40.5% | Apr 25, 2025 |
| Barclays | Brandt Montour | $45 | $38 | -47.5% | Apr 22, 2025 |
| Melius Research | Conor Cunningham | $51 | $37.51 | -40.5% | Apr 21, 2025 |
| BNP Paribas | Analyst unavailable | $47 | $41.25 | -45.1% | Mar 27, 2025 |
| Barclays | Brandt Montour | $46 | $40.22 | -46.3% | Mar 12, 2025 |
| Loop Capital Markets | Laura Champine | $55 | $51.45 | -35.8% | Feb 4, 2025 |
| Morgan Stanley | Stephen Grambling | $52 | $42.61 | -39.3% | Jan 14, 2025 |
| Truist Financial | Patrick Scholes | $49 | $46.64 | -42.8% | Dec 2, 2024 |
| Morgan Stanley | Stephen Grambling | $49 | $41.19 | -42.8% | Nov 12, 2024 |
| Morgan Stanley | Stephen Grambling | $37 | $33.22 | -56.8% | Aug 23, 2024 |
| Morgan Stanley | Stephen Grambling | $35 | $35.5 | -59.2% | Aug 20, 2024 |
| Barclays | Brandt Montour | $39 | $33.26 | -54.5% | Jul 2, 2024 |
| Truist Financial | Patrick Scholes | $38 | $31.45 | -55.6% | Jun 21, 2024 |
| Wells Fargo | Daniel Politzer | $35 | $29.68 | -59.2% | May 28, 2024 |
| UBS | Robin Farley | $35 | $29.68 | -59.2% | May 28, 2024 |
| Morgan Stanley | Stephen Grambling | $31 | $29.68 | -63.8% | May 28, 2024 |
| Stifel Nicolaus | Steven Wieczynski | $37 | $29.68 | -56.8% | May 28, 2024 |
Track every rating change on VIK the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationViking Holdings Ltd specializes in passenger transportation services, primarily through sea travel, across North America, the United Kingdom, and on a global scale. The company's activities are structured into distinct River and Ocean operational segments. Furthermore, it functions as a tour provider for its clientele and undertakes associated tourism endeavors. As of December 31, 2023, Viking commanded a substantial fleet of 92 vessels. This included 81 riverboats, which were made up of 58 Longships, 10 smaller vessels drawing on the Longship design, 11 other diverse river vessels, a single chartered river vessel, and the distinctive Viking Mississippi. Additionally, its fleet comprised 9 ocean liners and 2 expedition ships. Founded in 1997, Viking Holdings Ltd maintains its principal office in Pembroke, Bermuda.
Consumer Cyclical peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the VIK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-19T19:21:27.035604+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T12:10:50.379901+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T12:10:50.377651+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.