Norwegian Cruise Line beats top-line and bottom-line estimates; raises FY24 outlook
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Contributor since / Followers
Contributor since / Followers
4 months ago
- Norwegian Cruise Line Holdings press release (NYSE:NCLH): Q2 Non-GAAP EPS of $0.40 beats by $0.06.
- Revenue of $2.4B (+8.6% Y/Y) beats by $20M.
- Adjusted EBITDA grew 14% to $587.7 million compared to $514.8 million for the same period of 2023 and above guidance of $555 million.
- Occupancy was 105.9% for the quarter, slightly above guidance, and total revenue per Passenger Cruise Day increased approximately 2%, compared to second quarter 2023.
- Total debt was $13.4 billion. Net Leverage was 5.9x for the 12-months ended June 30, 2024, achieving year-end goal of reducing Net Leverage by ~1.5x from December 31, 2023 6-months early.2024
- Outlook: 2024 full year Net Yield guidance on a Constant Currency basis increased 100 basis points from the prior guidance to approximately 8.2% from 7.2%.
- 2024 full year Adjusted EBITDA guidance increased $50 million from the prior guidance to approximately $2.35 billion from $2.30 billion.
- 2024 Adjusted Net Cruise Costs excluding Fuel per Capacity Day guidance remained unchanged at flat to prior year excluding the impact of Dry-docks.
- Full year Adjusted Net Income guidance increased $60 million from prior guidance to approximately $790 million from $730 million, and Adjusted EPS guidance increased over 8%, or $0.11 to $1.53 from $1.42 vs. consensus of $1.45.
- On track to achieve double-digit Adjusted ROIC by year-end.