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NCLH says it expects record earnings for 2017

NCLH says it expects record earnings for 2017

Wednesday, August 9, 2017

MIAMI — NCL’s parent company Norwegian Cruise Line Holdings Ltd. generated net income of US$198.5 million for the second quarter ended June 30, compared to $145.2 million in last year’s Q2.

Adjusted net income was $232.7 million compared to $192.6 million.

Total revenue increased 13.3% to $1.3 billion while gross yield increased 7.4%.

The company said it expects to generate record earnings for full year 2017. “Positive consumer sentiment in North American and key international markets has resulted in a robust booking environment that continues to be one of the strongest in recent history which, combined with our targeted strategic revenue initiatives drove second quarter revenue and yield growth well above expectations,” said NCLH President and CEO, Frank Del Rio.

“All three of our brands benefitted from strength across each of their respective markets and contributed to our second quarter earnings beat.”

Del Rio said the company’s 13.3% revenue increase was primarily due to an increase in capacity days as a result of a reduction in the amount of dry-docks during the period, as well as the benefit of sailings from the addition of Regent brand’s Seven Seas Explorer and Oceania Cruises’ Sirena to the fleet in 2016. An increase in net yield due to strength in ticket pricing and higher onboard and other revenue helped too.

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NCLH is seeing strong booking trends across all markets for the back half of 2017, with pricing and occupancy up mid-single digits over 2016. “Strong booking volumes and firm pricing have benefitted our booked business for the next four quarters, contributing to the increase of our 2017 full year outlook and further solidifying our expectation for strong earnings growth,” said Wendy Beck, NCLH’s Executive Vice President and CFO.

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