Norwegian Cruise Line (NCLH) Tops Q1 EPS by 6c

Norwegian Cruise Line (NASDAQ: NCLH) reported Q1 EPS of $0.60, $0.06 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.29 billion.

Highlights

• The Company generated GAAP net income of $103.2 million or EPS of $0.45 compared to $61.9 million or $0.27 in the prior year. Adjusted Net Income was $137.8 million or Adjusted EPS of $0.60 compared to $91.2 million or $0.40 in the prior year.
• Total revenue increased 12.4% to $1.3 billion. Gross Yield increased 1.4%. Net Yield increased 1.0% on a Constant Currency basis.
• The Company expects to generate record earnings for full year 2018 and has increased its outlook, with Adjusted EPS now expected to be in the range of $4.55 to $4.70.
• 2018 full year Net Yield growth guidance on a Constant Currency basis increased 50 basis points from prior guidance to approximately 2.5%.

Company Outlook

“The strong global demand for our portfolio of brands which we experienced during 2017 has continued, as demonstrated by the successful, record-breaking launch of Norwegian Bliss, which entered the fleet as the best booked Norwegian Cruise Line newbuild in the history of our company,” said Mark Kempa, interim chief financial officer of Norwegian Cruise Line Holdings Ltd. “While our primary focus continues to be to delever to the low 3 times by year-end 2018, our recently announced $1 billion share repurchase program reflects our ongoing confidence in our financial position and the long-term strength of our business as well as our commitment to provide meaningful capital returns to our shareholders.”

For earnings history and earnings-related data on Norwegian Cruise Line (NCLH) click here.

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