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$NCLH (+4,87ย %) | Norwegian Cruise Line Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $0.99 (Est. $0.94) ๐ŸŸข; UP +31% YoY

๐Ÿ”น Revenue: $2.81B (Est. $2.77B) ๐ŸŸข; UP +11% YoY


FY Guidance:

๐Ÿ”น Adjusted EPS: $1.65 (from $1.53) ๐ŸŸข

๐Ÿ”น Adjusted Net Income: $855M (Prior: $790M) ๐ŸŸข

๐Ÿ”น Net Yield: ~9.4% on a Constant Currency basis; UP +120 bps from prior guidance due to strong pricing and demand ๐ŸŸข

๐Ÿ”น Adjusted EBITDA: $2.425B, UP $75M from prior guidance ๐Ÿ˜

๐Ÿ”น Net Leverage expected to end at ~5.4x


Operational Metrics:ย 

๐Ÿ”น Occupancy Rate: 108.1%

๐Ÿ”น Adjusted EBITDA: $931M (Guidance: $870M) ๐ŸŸข; UP +24% YoY

๐Ÿ”น Adjusted Net Cruise Cost Excluding Fuel per Capacity Day: $155 (Guidance: $156)

๐Ÿ”น Gross Cruise Costs per Capacity Day: $314


Booking and Demand:ย 

๐Ÿ”ธ Strong forward bookings across brands, with record-high advance ticket sales balance of $3.3B, UP +6% YoY

๐Ÿ”ธ Occupancy expected to average 105% for FY24, reflecting robust consumer demand


Financial Highlights:ย 

๐Ÿ”น Total Debt: $13.4B; Net Leverage reduced to 5.58x from 7.33x at end of 2023

๐Ÿ”น Adjusted Operational EBITDA Margin: 35.3% (Prior Guidance: 34.5%)

๐Ÿ”น Liquidity: $2.4B (includes $332.5M in cash and $1.2B available under the revolving loan facility)


CEO Harry Sommer's Commentary:ย 

๐Ÿ”ธ "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."

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