NCL Delivers Strong Earnings, Ups Full Year Outlook
- Business & Finance
US cruise operator Norwegian Cruise Line Holdings (NCLH) has seen its earnings further increase in the second quarter of 2017, reporting record quarterly earnings per share.
For the second quarter ended June 30, 2017, the company generated GAAP net income of USD 198.5 million compared to USD 145.2 million seen in the same period a year earlier.
Total revenue increased by 13.3% to USD 1.34 billion, from USD 1.18 billion reached in the same three-month period in 2016, while gross yield increased by 7.4%.
“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 Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.
“All three of our brands benefited from strength across each of their respective markets and contributed to our second quarter earnings beat,” Del Rio added.
Driven by a strong operating environment and revenue initiatives, NCL now expects to generate record earnings for full year 2017, surpassing the high end of its prior full year guidance.
Adjusted EPS is now expected to be in the range of USD 3.93 to USD 4.03, up USD 0.14 from the previous guidance of USD 3.79 to USD 3.89.
“We are pleased to report strong booking trends across all markets for the back half of 2017 where pricing and occupancy are now up mid-single digits over prior year,” said Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings.
“Strong booking volumes and firm pricing have benefited 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,” Beck added.