Norwegian Cruise Line Stock Slides 5% on Wider Than Expected Loss

Seekingalpha2023-02-28

Norwegian Cruise Line Holdings slumped 5% in premarket trading after posting a deeper than expected Q4 loss.For the fourth quarter, an adjusted loss of $1.04 per share came in $0.20 wider than ...

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Fayedea
2023-02-28
Fayedea
Great

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Meanwhile, a 211.9% jump in revenue from Q4 2021 to $1.52B was $20M above consensus.Occupancy improved to 87%, slightly above the 86.9% expectation, while passenger cruise days reached 4.38M, below the 4.5M consensus. The total number of passengers carried in the quarter, 551,344, came in below the 561,979 analyst expectation as well.“2022 was an eventful year, as we successfully completed our nearly yearlong Great Cruise Comeback, welcomed our newest ship Norwegian Prima to our world class fleet and achieved several key milestones on our post-pandemic financial recovery,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “We are now squarely focused on the future and are taking deliberate and strategic actions to best position the Company for its next chapter, which includes an industry-leading growth profile representing approximately 50% Capacity growth over 2019.”Moving forward, the company expects occupancy to average approximately 100% for the first quarter “historical levels for the second quarter.”“The Company entered the year with a record cumulative booked position of approximately 62% for full year 2023, in line with previously outlined expectations and within the Company’s optimal 60 to 65% range, and at higher prices than 2019 at a similar point in time,” the earnings release stated. “Booking volumes have accelerated in recent months buoyed by strong WAVE season demand…As a result, full year 2023 cumulative booked position is ahead of 2019 levels inclusive of the Company’s approximately 19% increase in capacity, at continued higher pricing.”Adjusted EBITDA is expected to be in the range of $1.8B to $1.95B for the full year, rebounding from a $673.9M loss in 2022. Management said that the company is continuing to eye opportunities for margin improvement in 2023. Cruise costs are expected to decrease 15% by the close of the year.“We remain steadfast in our commitment to deliver value for all of our stakeholders,” CFO Mark Kempa commented. “We are focused on identifying new and incremental opportunities to reinforce our solid foundation and become an even stronger and more nimble organization, while continuing to provide unparalleled vacation experiences for our valued guests.”","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9940017694,"gmtCreate":1677595259919,"gmtModify":1677595264222,"author":{"id":"4087523982151170","authorId":"4087523982151170","name":"Fayedea","avatar":"https://static.tigerbbs.com/f9d26a7d632140dba3255747fafc07d3","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940017694","repostId":1110256980,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":19,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1110256980"}