Norwegian Cruise Line Holdings raised its annual adjusted earnings forecast after third-quarter adjusted profit exceeded its guidance. Net yield still declined 6.7% at constant exchange rates, though less than management had expected. The cruise operator reported adjusted earnings of $1.12 per share and $14.8 billion of net debt, with additional operating savings planned through 2028. Management now expects annual adjusted earnings of approximately $1.70 per share.
Cruise operator Norwegian Cruise Line Holdings reported adjusted earnings of $1.12 per share for the third quarter ended September 30. Results released on October 29 put adjusted net income at $514 million. Net income under generally accepted accounting principles increased from $419 million a year earlier to $491 million, equivalent to $1.07 per share. Total revenue was $2.9 billion.[1], [2]
Net yield, the company’s net revenue measure per capacity day, fell 6.7% at constant exchange rates, compared with guidance for an 8.9% decline. Adjusted earnings before interest, taxes, depreciation and amortization reached $937 million, beating the $874 million forecast. Adjusted net cruise cost excluding fuel per capacity day was $152, down 2.3% at constant currency from the prior year.[1]
Management increased its annual adjusted earnings forecast to approximately $1.70 per share and adjusted earnings before interest, taxes, depreciation and amortization to approximately $2.55 billion. It still expected annual net yield to fall 4.4% at constant currency. Quarter-end net debt was $14.8 billion. Additional operational savings are expected to reach approximately $100 million annually as measures phase in through 2028.[1]
