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Norwegian Cruise Line Holdings Ltd. (NCLH-2.41%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing shows an increase in total revenue to $2.8 billion from $2.5 billion in the same quarter the previous year, attributed to an increase in Capacity Days and improved passenger ticket pricing and onboard spending.
Net income for the quarter was $474.9 million, up from $345.9 million in the previous year, with diluted earnings per share rising to $0.95 from $0.71.
Operating income increased to $691.2 million from $523.3 million, while gross margin rose 23.4% to $1.1 billion.
Adjusted Net Income was reported at $511.9 million, with Adjusted EPS at $0.99, reflecting adjustments primarily related to share-based compensation.
Adjusted EBITDA improved to $931.0 million from $752.1 million, indicating strong operational performance.
Total cruise operating expense increased by 3.8%, and Gross Cruise Cost by 4.9%, mainly due to the delivery of two new ships in the second half of 2023.
Interest expense, net, was $175.2 million, slightly down from $181.2 million the previous year.
Other income (expense), net, was an expense of $34.1 million, compared to income of $12.1 million in the previous year, primarily due to foreign currency remeasurements.
The company reported liquidity of approximately $2.4 billion, including cash and cash equivalents of $332.5 million and borrowing capacity under its revolving loan facility.
Norwegian Cruise Line Holdings Ltd. continues to focus on its newbuild program, with several ships scheduled for delivery from 2025 to 2036, and has secured export credit financing for a significant portion of these commitments.
The company is pursuing refinancing opportunities to reduce interest expenses and extend debt maturities, with a focus on maintaining compliance with all debt covenants.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Norwegian Cruise Line Holdings Ltd. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.