Press release -
Norwegian Cruise Line Holdings Reports Financial Results for the Second Quarter 2018
MIAMI, Florida – August 9, 2018– Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (together with NCL Corporation Ltd., “Norwegian Cruise Line Holdings”, “Norwegian” or the “Company”) today reported financial results for the second quarter ended June 30, 2018, as well as provided guidance for the third quarter and full year 2018.
Highlights
- The Company generated GAAP net income of $226.7 million or EPS of $1.01 compared to $198.5 million or $0.87 in the prior year.Adjusted Net Income was $271.9 million or Adjusted EPS of $1.21 compared to $232.7 million or $1.02 in the prior year.Adjusted EPS outperformed guidance by $0.19.
- Total revenue increased 13.2% to $1.5 billion. Gross Yield increased 4.3%.Net Yield increased 4.0% on a Constant Currency basis, outperforming guidance by 200 basis points.
- The Company expects to generate record earnings for full year 2018 and has increased its outlook above the high-end of its previous guidance range, with Adjusted EPS now expected to be in the range of $4.70 to $4.80.This includes an expected $0.10 impact, split evenly between revenue and expense, as a result of the recently announced itinerary optimization initiatives which will benefit future periods.Excluding this impact, the midpoint of Adjusted EPS guidance would have increased to approximately $4.85.
- 2018 full year Net Yield growth guidance on a Constant Currency basis increased 75 basis points from prior guidance to approximately 3.25%, or 125 basis points from the Company’s initial full year outlook provided in February.
“The continuation of the robust booking environment from our core source markets, combined with the successful execution of demand creation strategies drove higher pricing across all three brands, resulting in second quarter revenue, yield and earnings growth well above expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.“Global consumer cruise demand shows no signs of slowing as evidenced by solid organic growth and the hugely successful introduction of Norwegian Bliss, whose record-breaking performance surpassed our high expectations. The strong demand environment is expected to continue driving higher pricing in the back half of the year, leading to an increase of our full year 2018 Adjusted EPS outlook to a range of $4.70 to $4.80, well above the initial guidance range set at the beginning of the year.”
For the entire report please download PDF document below.
Topics
- Entertainment
Categories
- nclh
- norwegian cruise line holdings ltd.
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.
With a combined fleet of 26 ships with approximately 54,400 berths, these brands offer itineraries to more than 450 destinations worldwide. The Company will introduce eight additional ships through 2027.
Norwegian Cruise Line is the innovator in cruise travel with a 51-year history of breaking the boundaries of traditional cruising.Most notably, Norwegian revolutionized the cruise industry by offering guests the freedom and flexibility to design their ideal cruise vacation on their schedule with no set dining times, a variety of entertainment options and no formal dress codes. Today, Norwegian invites guests to enjoy a relaxed, resort- style cruise vacation on some of the newest and most contemporary ships at sea with a wide variety of accommodations options, including The Haven by Norwegian®, a luxury enclave with suites, private pool and dining, concierge service and personal butlers. Norwegian Cruise Line sails around the globe, offering guests the freedom and flexibility to explore the world on their own time and experience up to 27 dining options, award-winning entertainment, superior guest service and more across all of the brand’s 16 ships. For the entire European market, the international cruise line offers its comprehensive Premium All Inclusive concept which already includes, among other things, a wide selection of alcoholic and non-alcoholic beverages, service charges and gratuities on all-inclusive services as well as 60 minutes of free Wifi per person in the cruise fare.
Celebrating its 15th anniversary in 2018, Oceania Cruises is the world’s leading culinary- and destination-focused cruise line. The line’s six intimate and luxurious ships which carry only 684 or 1,250 guests offer an unrivaled vacation experience featuring the finest cuisine at sea and destination-rich itineraries that span the globe. Expertly crafted voyages aboard designer-inspired, intimate ships call on more than 450 ports across Europe, Alaska, Asia, Africa, Australia, New Zealand, New England-Canada, Bermuda, the Caribbean, Panama Canal, Tahiti and the South Pacific and epic Around The World Voyages that range from 180 to 200 days.
Regent Seven Seas Cruises offers the industry’s most inclusive luxury experience aboard its all-suite fleet. Seven Seas Mariner’s 2018 dry-dock refurbishment concluded the line’s $125 million refurbishment program to elevate the elegance of the whole fleet to the standard set by Seven Seas Explorer. In early 2020, Regent will perfect luxury with the launch of Seven Seas Splendor. A voyage with Regent Seven Seas Cruises includes all-suite accommodations, round-trip air, highly personalized service, exquisite cuisine, fine wines and spirits, unlimited internet access, sightseeing excursions in every port, gratuities, ground transfers and a pre-cruise hotel package for guests staying in concierge-level suites and higher.
