Norwegian Cruise Line reports strong increase in earnings
Norwegian Cruise Line Holdings has reported GAAP net income of $198.5 million, or earnings per share of $0.87, for the three months to June 30th, compared to $145.2 million or $0.64 in the prior year.
Adjusted net income at the cruise operator was $233 million or adjusted earnings per share of $1.02, compared to $193 million or $0.85 in the prior year.
Total revenue increased 13.3 per cent to $1.3 billion during the period, while gross yield increased 7.4 per cent.
“Positive consumer sentiment in North American and key international markets has resulted in a robust booking environment that continues to be one of the strongest in recent history which, combined with our targeted strategic revenue initiatives drove second quarter revenue and yield growth well above expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.
“All three of our brands benefitted from strength across each of their respective markets and contributed to our second quarter earnings beat.”
Norwegian Cruise Line Holdings expects to generate record earnings for full year 2017, surpassing the high end of its prior full year guidance.
Adjusted earnings per share is now expected to be in the range of $3.93 to $4.03, up $0.14 from the previous guidance of $3.79 to $3.89.
“We are pleased to report strong booking trends across all markets for the back half of 2017 where pricing and occupancy are now up mid-single digits over prior year,” said Wendy Beck, executive vice president and chief financial officer of Norwegian Cruise Line Holdings.
“Strong booking volumes and firm pricing have benefitted our booked business for the next four quarters, contributing to the increase of our 2017 full year outlook and further solidifying our expectation for strong earnings growth.”