Norwegian Viva docks at Port of Miami Terminal B before her christening ceremony on November 29, 2023 in Miami.
Richard Tribe | Tribune News Service | Getty Images
Norwegian Cruise Line Holdings It reported its first profitable year since 2019 on Tuesday, with fourth-quarter losses narrowing sharply.
The cruise line reported strong growth and ticket demand and gave encouraging forecasts for 2024. The company’s stock price soared nearly 20% after the report was released.
Here’s how the Norwegian performed during the game Season 4 Estimation with LSEG (formerly Refinitiv):
- Loss per share: 18 cents vs expected 14 cents
- income: $1.99 billion vs. $1.97 billion expected
In the last three months of 2023, Norwegian Air posted a net loss of $106.5 million, an improvement from a loss of $482.5 million in the same period last year. The company’s loss per share narrowed to 25 cents from $1.14 a year earlier. Adjusting for one-time items, Norwegian reported a loss of 18 cents per share.
The company’s total revenue for the year was US$8.55 billion, a 32% increase from 2019, and net profit was US$166.2 million. In 2022, Norwegian Air lost $2.27 billion.
The company’s full-year occupancy rate was 102.9%. Total revenue per passenger per day is 17% higher than pre-pandemic levels.
The company said it had received strong demand on most routes except routes through the Middle East, which had been canceled due to violence in Gaza. The company said cancellations caused only a slight drop in occupancy rates in the fourth quarter, to 99.2%.
“Norwegian Cruise Line Holdings experienced significant growth and accomplishments in 2023,” CEO Harry Sommer said in a statement. “We successfully delivered three new ships, one of each brand, our company’s 57th The most deliveries in a single year in our history. This important milestone demonstrates our dedication to innovation and commitment to delivering an exceptional vacation experience to our guests.”
The company said current booking levels are at a record high due to “healthy consumer demand” in the fourth quarter and full year.
For full-year 2024, the company expects adjusted profits of approximately $635 million, or $1.23 per share, and an occupancy rate of approximately 105%. Analysts polled by London Stock Exchange Group (LSEG) expected 2024 earnings of $1.21 per share.
Stocks in other cruise lines, including royal caribbean cruise and Carnival Corporation., also higher on Tuesday morning.
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