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Norwegian Cruise Line Shares Fall On Mixed Q1 Report, CEO Says 'We Have Taken Decisive Action'

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Norwegian Cruise Line Shares Fall On Mixed Q1 Report, CEO Says 'We Have Taken Decisive Action'

Norwegian Cruise Line (NASDAQ: NCLH) reported a first-quarter loss of 99 cents per share Thursday, missing the analyst consensus estimate of 31 cents by 219.35%.

This is a 219.28% decrease over earnings of positive 83 cents per share from the same period last year.

The company reported quarterly sales of $1.2 billion, which beat the analyst consensus estimate of $1.18 billion. 

"In recent weeks, we have taken decisive action to significantly strengthen our financial position in response to the COVID-19 global pandemic, including our highly successful and oversubscribed $2.4-billion gross simultaneous quad-tranche capital raise announced last week,” CEO Frank Del Rio said in a statement. 

“We believe this capital raise, coupled with other ongoing liquidity-enhancing initiatives, makes us well-positioned to weather an unlikely scenario of over 18 months of suspended voyages." 

The company said guests continue to demonstrate their desire for cruise vacations. Norwegian Cruise Line is preparing to resume cruises and is and working around the clock alongside U.S. and global public health agencies and governments to develop and enact the next level of enhanced cruise health and safety standards, according to Thursday's press release. 

Norwegian Cruise Line shares were trading down 4.46% at $9.85 in Thursday’s premarket session. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.

Related Links:

Carnival Shares Plunge Further As Cruise Line Guides To 2020 Loss, Announces Common Stock Offering

Norwegian Cruise Line Reports Q2 Earnings Beat

 

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