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Norwegian Cruise Line Q1 Adj. Loss Narrower Than Estimates; Boost FY23 Outlook
(RTTNews) - Norwegian Cruise Line Holdings Ltd. (NCLH) reported Monday that its net loss for the first quarter sharply narrowed to $159.32 million or $0.38 per share from $982.71 million or $2.35 per share in the prior-year quarter.
Excluding items, adjusted loss for the quarter was $0.30 per share, compared to $1.82 per share in the prior-year quarter.
Total revenue for the quarter soared to $1.82 billion from $521.94 million in the same quarter last year due to the phased ramp up of cruise voyages.
On average, analysts polled by Thomson Reuters expected the company to report loss of $0.40 per share on revenues of $1.75 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead, the company expects adjusted earnings of about $0.25 per share for the second quarter, reflecting first quarter outperformance partially offset by higher anticipated fuel costs and foreign exchange for the remainder of 2023.
The company also now projects adjusted earnings of about $0.75 per share for the full-year 2023, up from the prior forecast of $0.70 per share.
The Street is looking for earnings of $0.28 per share for the second quarter and earnings of $0.75 per share for the year.
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