Norwegian Cruise Line Stock Dips On Q4 Miss, Q1 Loss Warning

Norwegian Cruise Line Holdings Ltd NCLH reported fourth-quarter FY21 revenue of $487.4 million, missing the consensus of $571.85 million. Revenue increased from $9.6 million in Q4 2020 as cruise voyages continued to resume in the quarter.
The total cruise operating expenses rose 246.7% Y/Y to $717.7 million. The company reported an operating loss of $(686.9) million.
The occupancy percentage for the quarter was 51.4%. The company held $1.75 billion in cash and equivalents as of December 31, 2021.
Adjusted EPS loss of $(1.95) missed the consensus of $(1.60).
"These last few months have also had their share of challenges caused by the impacts from the Delta and Omicron COVID surges, but despite these challenges which were mostly out of our control, our booked position and pricing remain strong, particularly for the second half of 2022 and into 2023, demonstrating the strong fundamental demand for our cruise offerings," said CEO Frank Del Rio.
Outlook: The company expects to report a net loss for Q1 of 2022 and incur loss until the company is able to resume regular voyages. The company expects to have a positive adjusted net income for the second half of 2022.
Price Action: NCLH shares are trading lower by 6.12% at $18.11 on the last check Thursday.

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