Norwegian Cruise Line Profits Up
Miami-based Norwegian Cruise Line Holdings reported third-quarter ended September 30, 2018 profit of $470.4 million compared to $400.7 million in the prior year.
The cruise operator said in a investor release that its total revenue increased 12.5% to $1.9 billion. Gross Yield increased 4.5%. Net Yield increased 4.0% on a Constant Currency basis, outperforming guidance by 50 basis points.
Norwegian expects to generate record earnings in full year 2018 and has increased its outlook above the high-end of its previous guidance range. Adjusted EPS is now expected to be approximately $4.85, which is inclusive of the previously announced impact from itinerary optimization initiatives which will benefit future periods.
“Our three brands fully benefited from strong demand for peak summer season sailings, with particular strength in premium-priced itineraries in Alaska and Europe, resulting in the highest quarterly revenue and earnings in our history,” said Mark A. Kempa, executive vice president and chief financial officer. “As 2018 winds down, our earnings outlook improves as we increase our full year Adjusted EPS above the high-end of our previous guidance range.”
“The robust booking environment for cruise vacations is alive and well as evidenced by our stellar booked position for 2019, which continues to exceed this year’s record levels, with booking momentum accelerating for sailings throughout 2019 and extending into 2020,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.