New ships drive up revenue at Norwegian Cruise Holdings

New ships drive up revenue at Norwegian Cruise Holdings

Norwegian Cruise Line Holdings has reported GAAP net income of $61.9 million or earning per share of $0.27 for the three months to March 31st.

Adjusted net income for the period was $91.2 million, compared to $86.7 million for 2016.

Total revenue at the cruise operator increased 6.8 per cent to $1.2 billion, with gross yield increased 5.7 per cent.

Following the increase, the company expects to generate record earnings for full year 2017 and has increased its outlook, with adjusted earnings per share now expected to be in the range of $3.79 to $3.89.

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“The year is off to a solid start with strong first quarter results which include record revenue of $1.2 billion for the quarter,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.

“The operating environment has remained favourable with strong close-in demand for Caribbean sailings and strength in on-board revenue driving top line growth above expectations,” continued Del Rio.

The increase in revenue 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.

An increase in net yield was also due to strength in ticket pricing and higher on-board and other revenue.

Fuel price per metric ton, net of hedges, increased 3.4 per cent to $453 from $438 in 2016.