$NCLH (+1,84聽%) | Norwegian Cruise Line Q3'24 Earnings Highlights:
馃敼 EPS: $0.99 (Est. $0.94) 馃煝; UP +31% YoY
馃敼 Revenue: $2.81B (Est. $2.77B) 馃煝; UP +11% YoY
FY Guidance:
馃敼 Adjusted EPS: $1.65 (from $1.53) 馃煝
馃敼 Adjusted Net Income: $855M (Prior: $790M) 馃煝
馃敼 Net Yield: ~9.4% on a Constant Currency basis; UP +120 bps from prior guidance due to strong pricing and demand 馃煝
馃敼 Adjusted EBITDA: $2.425B, UP $75M from prior guidance 馃槓
馃敼 Net Leverage expected to end at ~5.4x
Operational Metrics:聽
馃敼 Occupancy Rate: 108.1%
馃敼 Adjusted EBITDA: $931M (Guidance: $870M) 馃煝; UP +24% YoY
馃敼 Adjusted Net Cruise Cost Excluding Fuel per Capacity Day: $155 (Guidance: $156)
馃敼 Gross Cruise Costs per Capacity Day: $314
Booking and Demand:聽
馃敻 Strong forward bookings across brands, with record-high advance ticket sales balance of $3.3B, UP +6% YoY
馃敻 Occupancy expected to average 105% for FY24, reflecting robust consumer demand
Financial Highlights:聽
馃敼 Total Debt: $13.4B; Net Leverage reduced to 5.58x from 7.33x at end of 2023
馃敼 Adjusted Operational EBITDA Margin: 35.3% (Prior Guidance: 34.5%)
馃敼 Liquidity: $2.4B (includes $332.5M in cash and $1.2B available under the revolving loan facility)
CEO Harry Sommer's Commentary:聽
馃敻 "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."