Norwegian Cruise Line Holdings CEO Frank Del Rio discusses the largest ship in his company’s fleet now in port in New York City and the range of amenities and luxuries on board.
Norwegian Cruise Line Holdings reported better-than-expected fourth-quarter results on Thursday but warned the coronavirus outbreak will dent its bottom line.
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The Miami-based cruise operator posted a quarterly profit of $121.3 million, or 56 cents a share, down 21.5 percent from a year ago. Revenue rose 7.2 percent to $1.5 billion, beating the $1.43 billion that analysts surveyed by Refintiv were expecting.
For the full-year, Norwegian’s profit fell 2.6 percent year-over-year to $930.2 million, or $4.30 a share, as adjusted net income was unchanged from a year ago at $1.1 billion. The results included a 67 cent per-share impact from Hurricane Dorian and the cessation of voyages to Cuba.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 49.40 | -2.62 | -5.04% |
“As a result of the strong global demand for cruises witnessed throughout 2019, we entered 2020 in the best-booked position and at prices higher than last year’s record levels,” CEO Frank Del Rio said in a statement. “This trend continued through late January until the COVID-19 outbreak began having an adverse impact on our business.”
Norwegian said the coronavirus outbreak’s known direct impact on full-year 2020 adjusted earnings is 75 cents a share. That includes customer compensation and 40 canceled, modified or redeployed Asia voyages.
Looking ahead, excluding both known and unknown impacts from the coronavirus outbreak, Norwegian expects first-quarter adjusted earnings per share of about 48 cents a share. For the full-year, the company projects adjusted earnings of $5.40 to $5.60 a share.
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Norwegian has fallen 10.9 percent year-to-date, compared with the S&P 500’s 4.8 percent gain.
