- Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) reported fourth-quarter FY22 revenue growth of $1.519 billion Tuesday, beating the consensus of $1.500 billion.
- Total cruise operating expenses were $1.219 billion versus $717.7 million last year.
- The company reported an operating loss of $(280.97) million versus $(686.87) million last year.
- The occupancy percentage for the quarter was 86.6% versus 104.5% during the same period in 2019. The company held $947 million in cash and equivalents.
- Adjusted EPS loss of $(1.04) missed the consensus loss of $(0.85).
- As of December 31, 2022, the company's advance ticket sales balance, including the long-term portion, was $2.7 billion.
- "2022 was an eventful year, as we successfully completed our nearly yearlong Great Cruise Comeback, welcomed our newest ship, Norwegian Prima, to our world-class fleet, and achieved several key milestones on our post-pandemic financial recovery," said Frank Del Rio, president, and chief executive officer of Norwegian Cruise Line Holdings Ltd.
- "We are now squarely focused on the future and are taking deliberate and strategic actions to best position the Company for its next chapter, which includes an industry-leading growth profile representing approximately 50% Capacity growth over 2019."
- Q1 Outlook: NCLH expects Q1 Occupancy to average approximately 100% and is on track to reach historical levels for Q2.
- NCLH's Q1 Capacity will likely increase by 19% compared to 2019, including the delivery of three new builds in 2023: Oceania Cruises' Vista, Norwegian Viva, and Regent's Seven Seas Grandeur.
- NCLH expects a Q1 adjusted EPS loss of $(0.45) below the consensus loss of $(0.33). It expects FY23 adjusted EPS of $0.70, below the consensus of $1.06.
- Price Action: NCLH shares are trading lower by 6.12% at $15.49 premarket on the last check Tuesday.
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