Norwegian Cruise Line Holdings Non-GAAP EPS of $0.99 beats by $0.05, revenue of $2.81B beats by $40M

2024 Outlook

• 2024 full year Net Yield guidance on a Constant Currency basis increased 120 basis points from the prior guidance to approximately 9.4% from 8.2%. The increase in guidance is driven by strong demand across all three brands and itineraries in the second half of 2024.
• 2024 full year Adjusted EBITDA guidance increased $75 million from the prior guidance to approximately $2.425 billion from $2.350 billion. This raise is due to better than expected third quarter results and increased guidance for the fourth quarter of 2024.
• Adjusted Operational EBITDA Margin for the full year 2024 increased to 35.3%, up from previous guidance of 34.5%.
• Full year Adjusted Net Income guidance increased $65 million from prior guidance to approximately $855 million from $790 million, and Adjusted EPS guidance increased approximately 8%, or $0.12 to $1.65 from $1.53 vs $1.58 consensus
• Net Leverage is expected to end the year at ~5.4 times, a reduction of almost two turns compared to 2023.