NCLH Starts Year on a High Note
- Business & Finance
Miami-based cruise company Norwegian Cruise Line Holdings (NCLH) has started the year with a record revenue which reached USD 1.2 billion in the first quarter, representing an increase of 6.8% compared to USD 1.1 billion seen in 2016.
This increase was primarily attributed to the addition of Oceania Cruises’ Sirena and Regent’s Seven Seas Explorer to the fleet, partially offset by five dry-docks during the period along with an increase in net yield due to strength in ticket pricing and higher onboard and other revenue.
The company’s GAAP net income for the three-month period ended March 31, 2017 decreased to USD 61.9 million from USD 73.2 million reported in the same period a year earlier.
“2017 is off to a solid start with strong first quarter results which include record revenue of USD 1.2 billion for the quarter,” Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings, said.
“The operating environment has remained favorable with strong close-in demand for Caribbean sailings and strength in onboard revenue driving topline growth above expectations,” continued Del Rio.
Gross yield increased 5.7%, while the 2017 full year adjusted net yield growth guidance on a constant currency basis increased 100 basis points to 2.75%, according to the cruise line.
Norwegian Cruise Line Holdings said that it expects to generate record earnings for full year 2017 and has increased its outlook, with adjusted EPS now expected to be in the range of USD 3.79 to USD 3.89.
“A strong end to the most successful Wave season in recent history resulted in a meaningful improvement in our full year booked position, with both occupancy and pricing now well ahead of prior year,” Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings, said.