NCL Holdings says strength in key markets is offsetting softness in Europe

NCL Holdings says strength in key markets is offsetting softness in Europe

MIAMI — Norwegian Cruise Line Holdings has released its first quarter financial results and it looks like nothing but clear seas ahead for the company.

The most notable highlight of the quarter, which ended March 31, is a net income of US$73.2 million, or $0.32 per share compared to a loss of $21.5 million of $0.10 per share in the prior year. Current booked position for 2016 is also on par with prior year’s record levels and, more importantly, at higher prices.

Strength in the Caribbean, Alaska, Hawaii and other North American markets is offsetting softness in European itineraries.

“While this softness is tempering yield growth mainly in the second quarter, strong bookings and pricing in other core markets, as well as the addition of Seven Seas Explorer to our fleet, are contributing to strong yield performance in the back half of the year, keeping us on track to deliver expected earnings growth of approximately 30%,” said Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings.

Looking head to 2017, the first half of booking trends remain strong at higher prices. The company remains confident that it will reach previously stated targets of double-digit Adjusted ROIC this year, growing to 14% in 2018 and $5.00 Adjusted EPIS in 2017.

“We are pleased to report another quarter of solid financial performance and significant earnings growth driven primarily by strong pricing with robust demand in the Caribbean driving net yield growth above our expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.