The earnings call highlighted significant achievements in revenue, demand, and sustainability efforts, with record-breaking financial metrics and strategic expansions. However, challenges such as the impact of Middle East disruptions and ongoing high leverage were noted. Overall, the sentiment remains positive due to strong forward momentum and financial performance.

Company Guidance

During the third quarter 2024 earnings call for Norwegian Cruise Line Holdings (NCLH), the company reported surpassing its guidance across all key metrics for the third consecutive quarter, prompting an increase in full-year guidance for the fourth time in the year. Notably, the quarter saw the highest gross revenue and adjusted EBITDA in the company's history, with adjusted EPS rising by 31% to $0.99, surpassing the guidance of $0.92, despite a $0.06 negative impact from foreign exchange rates. Additionally, net leverage improved to 5.58x, marking a significant 1.75 turn improvement from the end of 2023. The company also raised its full-year net yield projection to a 9.4% increase, an improvement from previous guidance, with an adjusted operational EBITDA margin expected to reach 35.3%, a step towards the 39% target for 2026. This extraordinary performance underscores NCLH's successful strategic initiatives and robust demand environment, positioning it well for future growth and sustainability targets.

Record-Breaking Revenue and Growth

NCLH achieved the highest quarterly gross revenue and adjusted EBITDA in company history. Adjusted EPS increased 31% to $0.99, surpassing guidance despite a $0.06 negative impact from foreign exchange rates.

Strong Demand and Pricing

Net yield grew 9% year-over-year, outperforming guidance by 260 basis points. Strong pricing and demand were seen across all geographies, particularly in Alaska, Canada, and New England.

Sustainability Achievements

41% of the fleet has been tested with a biodiesel blend, surpassing the 2024 goal. NCLH received an A rating from MSCI within the hotel and travel industry for the second year in a row.

New Fleet Additions and Enhancements

NCLH unveiled Norwegian Luna, a new ship launching in 2026, and is making progress on launching Norwegian Aqua in 2025. Expansion plans include new culinary experiences and ultra-luxury ships like the Seven Seas Prestige.

Improved Financial Position

Net leverage improved by 1.75 turns over the last 9 months, ending the quarter at 5.58x. Full-year adjusted EBITDA guidance increased to approximately $2.425 billion.

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Norwegian Cruise Line (NCLH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NCLH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 09, 2018	2018 (Q2)	- / 1.21	1.02	18.63% (+0.19)	―	―
Nov 08, 2018	2018 (Q3)	- / 2.27	1.86	22.04% (+0.41)	―	―
Feb 21, 2019	2018 (Q4)	- / 0.85	0.68	25.00% (+0.17)	―	―
May 09, 2019	2019 (Q1)	- / 0.83	0.6	38.33% (+0.23)	―	―
Aug 08, 2019	2019 (Q2)	- / 1.30	1.21	7.44% (+0.09)	―	―
Nov 07, 2019	2019 (Q3)	- / 2.23	2.27	-1.76% (-0.04)	―	―
Feb 20, 2020	2019 (Q4)	- / 0.73	0.85	-14.12% (-0.12)	―	―
May 14, 2020	2020 (Q1)	- / -0.99	0.83	-219.28% (-1.82)	―	―
Aug 06, 2020	2020 (Q2)	- / -2.78	1.3	-313.85% (-4.08)	―	―
Nov 09, 2020	2020 (Q3)	- / -2.35	2.23	-205.38% (-4.58)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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NCLH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$23.84	$25.34	+6.29%
Jul 31, 2024	$18.56	$18.43	-0.70%
May 01, 2024	$18.92	$16.08	-15.01%
Feb 27, 2024	$15.93	$19.09	+19.84%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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