$NCLH (+0.04%) | Norwegian Cruise Line Q3'24 Earnings Highlights:

🔹 EPS: $0.99 (Est. $0.94) 🟢; UP +31% YoY

🔹 Revenue: $2.81B (Est. $2.77B) 🟢; UP +11% YoY

FY Guidance:

🔹 Adjusted EPS: $1.65 (from $1.53) 🟢

🔹 Adjusted Net Income: $855M (Prior: $790M) 🟢

🔹 Net Yield: ~9.4% on a Constant Currency basis; UP +120 bps from prior guidance due to strong pricing and demand 🟢

🔹 Adjusted EBITDA: $2.425B, UP $75M from prior guidance 😐

🔹 Net Leverage expected to end at ~5.4x

Operational Metrics: 

🔹 Occupancy Rate: 108.1%

🔹 Adjusted EBITDA: $931M (Guidance: $870M) 🟢; UP +24% YoY

🔹 Adjusted Net Cruise Cost Excluding Fuel per Capacity Day: $155 (Guidance: $156)

🔹 Gross Cruise Costs per Capacity Day: $314

Booking and Demand: 

🔸 Strong forward bookings across brands, with record-high advance ticket sales balance of $3.3B, UP +6% YoY

🔸 Occupancy expected to average 105% for FY24, reflecting robust consumer demand

Financial Highlights: 

🔹 Total Debt: $13.4B; Net Leverage reduced to 5.58x from 7.33x at end of 2023

🔹 Adjusted Operational EBITDA Margin: 35.3% (Prior Guidance: 34.5%)

🔹 Liquidity: $2.4B (includes $332.5M in cash and $1.2B available under the revolving loan facility)

CEO Harry Sommer's Commentary: 

🔸 "With demand robust and our margins steadily improving, we are raising our full-year guidance and expect 2024 to be a landmark year in revenue and profitability growth."