Norwegian Cruise Line Holdings Ltd NCLH shares are trading higher Tuesday after the company reported better-than-expected financial results and issued guidance.
What Happened: Norwegian reported third-quarter revenue of $1.6 billion, which beat average analyst estimates of $1.58 billion, according to Benzinga Pro. The company reported a quarterly net loss of 64 cents per share, which beat average analyst estimates for a loss of 70 cents per share.
Norwegian said occupancy improved to 82% in the quarter. Total revenue per passenger cruise day increased to approximately 14% in the third quarter compared to the same period in 2019, driven by strong ticket pricing and onboard revenue generation.
"We are demonstrating continued positive momentum as we consistently reach key operational and financial milestones, including positive Adjusted EBITDA in the third quarter for the first time since the start of the pandemic," said Frank Del Rio, president and CEO of Norwegian Cruise Line.
Norwegian expects full-year 2022 revenue to be between $1.4 billion and $1.5 billion versus average estimates of $1.46 billion. The company said it's on track to generate positive adjusted free cash flow in the fourth quarter.
NCLH Price Action: Norwegian has a 52-week high of $23.90 and a 52-week low of $10.31.
The stock was up 9.18% at $18.19 at the time of writing.
Photo: Corey Balazowich from Flickr.
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