Stella wave seasons drives up profits at Norwegian Cruise Line
Norwegian Cruise Line Holdings has reported GAAP net income of $103.2 million or earnings per share of $0.45 for the three months ended March 31st.
The figures compare to $61.9 million and $0.27 in the prior year.
Adjusted net income at the cruise giant was $137.8 million.
Total revenue at Norwegian Cruise Line Holdings increased 12.4 per cent, to $1.3 billion, while gross yield increased 1.4 per cent.
“The strong global demand for our portfolio of brands which we experienced during 2017 has continued, as demonstrated by the successful, record-breaking launch of Norwegian Bliss, which entered the fleet as the best booked Norwegian Cruise Line newbuild in the history of our company,” said Mark Kempa, interim chief financial officer of Norwegian Cruise Line Holdings.
“While our primary focus continues to be to delever to the low three times by year-end 2018, our recently announced $1 billion share repurchase program reflects our ongoing confidence in our financial position and the long-term strength of our business as well as our commitment to provide meaningful capital returns to our shareholders.”
The company expects to generate record earnings for full year 2018 and has increased its outlook, with adjusted earnings per share now expected to be in the range of $4.55-$4.70.
“The year is off to an impressive start with yet another record quarter of earnings, which exceeded expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.
“The 2018 wave season was stellar and has further strengthened our overall future booked position with load factor and pricing continuing to be well ahead of prior year for the remaining quarters of 2018 and throughout 2019.”