Norwegian Cruise Line Holdings Ltd. (NCLH) today announced its financial results for the first quarter, which ended March 31, 2017, as well as its outlook for the second quarter and the full year 2017.
News
- The company generated GAAP net income of $61.9 million and earnings per share (EPS) of $0.27, compared to GAAP net income of $73.2 million and EPS of $0.32 in the prior year.
- Total revenue amounted to $1.2 billion, representing an increase of 6.8%.
- The company expects to generate record profits for fiscal year 2017 and has raised its expectations, with adjusted EPS forecast in the range of $3.79 to $3.89.
“2017 is off to a strong start, thanks to excellent first-quarter results that include record revenues of $1.2 billion,” said Frank Del Rio, President and CEO of Norwegian Cruise Line Holdings. “The operating environment continues to be favorable, with strong and growing demand in the Caribbean and solid onboard revenues, pushing gross revenues above expectations,” Del Rio continued.
Forecasts
“The strong finish to the most successful sale season in recent history has resulted in a significant improvement in full-year bookings, both occupancy and prices, which are now well above last year’s level,” said Wendy Beck, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
New features
The company receives approval to travel to Cuba in 2018
The company made history this spring as the first major U.S. cruise operator to send its entire portfolio of brands on inaugural voyages to Cuba. In addition to its existing 2017 Cuba itineraries, the company announced approval from the Government of the Republic of Cuba to operate cruises to the country in 2018, with 56 voyages across its three brands.
The share buyback program is extended until April 2020
The company's Board of Directors extended its three-year, $500 million share repurchase program until April 29, 2020. The program was originally scheduled to expire on April 29, 2017. As of May 10, 2017, the share repurchase program had a balance of $263.5 million available for repurchases.
The company unveils its 2016 environmental report
In its 2016 environmental report, the company unveiled its global environmental program, "Sustainable Navigation." This comprehensive program highlights the company's progress in its environmental initiatives worldwide, as well as its environmental goals, which include using sustainable resources, minimizing waste, investing in emerging technologies, and reducing CO2 emissions2.,
Update on The Norwegian Edge
In March, the Norwegian Jade set sail as a completely new ship for Tampa, its seasonal homeport, after three weeks in dry dock. Every single aspect of the onboard experience was renovated. Additionally, the Norwegian Pearl set sail in February for Miami, its seasonal homeport, after two weeks in dry dock, where all staterooms and many of the ship's public areas were renovated to provide a fresher, more modern look. The ambitious renovation of the Norwegian Pearl is part of The Norwegian Edge™, an investment program that sets a high standard of excellence for the Norwegian Cruise Line brand and encompasses the overall guest experience.
Delivery of the Norwegian Joy
On April 27, the company took delivery of the Norwegian Joy, a ship specially designed for the Chinese cruise market, from Meyer Werft during an onboard ceremony in Bremerhaven, Germany. The Norwegian Joy is the line's second Breakaway Plus-class ship and features an innovative design and personalized services to offer Chinese passengers a "first-class at sea" experience. Following its delivery, the Norwegian Joy will set sail for China, where it will embark on a grand inaugural port tour followed by the ship's christening ceremony on June 27, led by its godfather, the "King of Chinese Pop," Wang Leehom. The spectacular Shanghai inaugural celebration will include an exclusive concert and an overnight cruise for honored passengers.
Agreement with Alibaba Group
The company recently announced the start of a new partnership with Alibaba Group, combining Norwegian's expertise in providing exceptional vacation experiences and its innovative, award-winning cruise offerings with Alibaba's unparalleled understanding of Chinese consumer needs and desires, in order to offer the local Chinese market the most personalized product in the cruise industry.
