Norwegian Cruise Line Holdings Ltd. has announced its financial results for the third quarter, which ended September 30, 2016. It also presented its outlook for the fourth quarter and the full year 2016.
News
- The company generated net income of $342.4 million and earnings per share (EPS) of $1.50, compared to GAAP net income of $251.8 million and EPS of $1.09 in the prior year. Adjusted net income was $369.3 million and adjusted EPS was $1.62, compared to adjusted net income of $311.1 million and adjusted EPS of $1.35 in the prior year.
- Total revenue amounted to $1.5 billion, representing a 15.6% increase over the previous year.
- The company boasts record-level earnings with adjusted EPS for fiscal year 2016 between $3.38 and $3.42.
“In 1966, the M/S Sunward set sail on its maiden voyage from Miami to the Caribbean, marking not only the birth of Norwegian Cruise Line, but also of the cruise industry as we know it today,” said Frank Del Rio, President and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd. “Fifty years later, we have reached another historic milestone, recording our highest quarterly revenue and earnings ever, driven by the addition of the Norwegian Escape to the Norwegian fleet, the Sirena to the Oceania Cruises fleet, and the Seven Seas Explorer to the Regent Seven Seas Cruises fleet,” Del Rio continued.
Company Forecasts
“We are on track to achieve solid double-digit adjusted EPS growth in 2016, despite having faced challenges regarding geopolitical events this year that have dampened demand for the Mediterranean,” said Wendy Beck, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
Designed specifically for Alaskan cruises, the Norwegian Bliss will debut in 2018
The company recently announced that the third ship in the Breakaway Plus class, the Norwegian Bliss, will be the first ship designed specifically for Alaskan cruises and will feature amenities and facilities to provide the ultimate cruise experience in this destination. The Norwegian Bliss will usher in a new era of Alaskan cruising when it begins sailing from Seattle in June 2018. It will be the first Norwegian Cruise Line ship to debut in Washington state's largest city. Construction of the approximately 167,800 gross tonnage ship, with a capacity for 4,000 passengers at double occupancy, began on October 28 at the Meyer Werft shipyard in Germany.
The Norwegian Jewel, Pearl, and Gem were modernized with gas scrubbing technology
The Norwegian Jewel, Norwegian Pearl, and Norwegian Gem were modernized this quarter with the installation of new exhaust gas cleaning systems to significantly reduce emissions and the fleet's environmental impact. Five scrubbers were installed, one per engine, covering the entire propulsion system. Collectively, the scrubbers can reduce sulfur dioxide emissions by up to 99 percent and particulate matter emissions by 85 percent.
Norwegian Cruise Line recognized at the World Travel Awards
Norwegian Cruise Line has been named “North America’s Leading Cruise Line” for the first time, as well as “Caribbean’s Leading Cruise Line” for the fourth time at the 2016 World Travel Awards. Norwegian also received the award for “Europe’s Leading Cruise Line” for the ninth consecutive year, the “European Responsible Tourism Award” for the second year in a row, and the award for “Best Cruise Ship Spa” for the Mandara Spa® aboard the Norwegian Cruise Line fleet.
