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Norwegian Cruise Line’s Q4 Revenue Jumps 15.5%, But Outlook Is Light

Wednesday, November 9, 2016 5:57
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Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) early Wednesday posted mixed Q3 earnings results and offered a forecast that could also miss expectations.

The Miami-based company reported Q3 EPS of $1.62, which came in three cents better than analysts’ estimate of $1.59. Revenue jumped 15.5% from last year to $1.48 billion, narrowly missing Wall Street’s view of $1.49 billion.

Norwegian noted that Gross Yield rose 1.5% in the latest period, while Adjusted Net Yield improved 3.4% on a constant currency basis, and 2.8% on an as-reported basis. The company noted that better pricing positively impacted those results.

Looking ahead, NCLH forecast Q4 EPS to range from $0.53 to $0.57, which could miss analysts’ view of $0.57 for the period. It also said that it expects net yield in Q4 to be down 2.75%.

The company commented via press release:

“Looking to the first half of 2017, where deployment is weighted to Caribbean sailings, advanced bookings are ahead of prior year’s record levels at higher prices, while an early look at the full year shows occupancy commensurate with prior year at this same time at slightly lower prices. Recent significant weakening of certain foreign currencies, primarily the British Pound, against the U.S. dollar, combined with an increase in fuel prices have placed pressure on expectations for the coming year. Despite these headwinds, we still anticipate delivering double-digit growth in Adjusted EPS in 2017.”

Norwegian Cruise Line shares rose $0.85 (+2.17%) to $39.98 in premarket trading Wednesday. Prior to today’s report, NCLH had fallen 33.23% year-to-date.


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