Norwegian narrows 2015 EPS guidance to $2.85 to $2.90 per share

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 03 November 2015 03 November 2015

Norwegian Cruise Line Holdings (NCLH), the world’s third largest cruise shipping group, says it has narrowed its earnings per share (EPS) guidance to $2.85 to $2.90 per share in light of strong net yield performance in the third quarter. Its previous forecast was $2.80 to $2.90 per share.

“As a result of strong Net Yield performance the Company has increased its full year 2015 Adjusted Net Yield guidance. Adjusted Net Cruise Cost Excluding Fuel is expected to modestly increase due to the aforementioned timing of certain expenses. As a result of these changes, the Company narrowed the range and raised the midpoint of its full year 2015 Adjusted EPS guidance which is now $2.85 to $2.90,” the company said in a statement.

“The alignment of revenue management strategies across our three brands has resulted in a lengthening of the booking curve, enabling us to drive higher pricing, particularly on the Norwegian brand,” said Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings. “This stronger pricing is contributing to robust earnings growth of approximately 27% in 2015, and brings our three year compound annual growth rate to over 40% since our initial public offering in 2013,” continued Beck.

Norwegian Cruise Line Holdings reports rise in interims on strong Western Hemisphere markets

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 03 November 2015 03 November 2015

Norwegian Cruise Line Holdings, the world’s third largest cruise shipping company, has reported a rise in third quarter and nine month interims on strong demand cruises in the Western Hemisphere.

Group net profit rose to $251.8 million in the third quarter from $201.0 million in the same period last year, Revenues increased to $1.28 billion from $907.0 million. All figures were also boosted by the acquisition of Prestige Cruise Holdings late last year.

In the nine months to 30 September, net profit rose to $388.8 million from $363.9 million, while revenues increased to $3.30 billion from $2.34 billion.

On a combined company basis, which compares current results against the combined results of Norwegian and Prestige in the prior year, Adjusted Net Yield increased 2.2%, (4.7% on a Constant Currency basis), reflecting improved pricing in the quarter which was driven by strength in the Caribbean, Bermuda and Alaska itineraries, partially offset by softness in certain Eastern Mediterranean itineraries.

“The continued momentum from our revenue enhancement strategies resulted in net yield growth of approximately 5% driving strong earnings performance in the quarter,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings (NCLH) in a statement.

 “What is most impressive is that this yield performance was driven purely by organic growth, demonstrating that robust topline growth need not be predicated solely on the addition of new ships to our fleet.”

Adjusted earnings per share (EPS) increased 22% over prior year to $1.35and was at the top end of the Company’s guidance range, benefiting from solid Net Yield performance. On a GAAP basis, net income was $251.8 million, or $1.09 per share compared to $201.1 million or $0.97 per share in the prior year.

Adjusted Net Yield improved 19.8% (22.7% on a Constant Currency basis) mainly due to the acquisition of Prestige Cruise Holdings, which occurred in the fourth quarter of 2014.