Norwegian Cruise Line Holdings (NYSE:NCLH) rallied on Monday after topping earnings expectations off improved operating expenses.
The cruise line operator’s cumulative booked position for 2023 continues to be ahead of 2019 at record levels and higher pricing. NCLH said advance ticket sales balance, including the long-term portion, was a record $3.4B as of March 31, approximately 26% higher than the prior quarter and approximately 60% higher than Q1 of 2019. Onboard revenue generation was also noted to remain robust. NCLH said it continues to focus on increasing its pre-sold revenue from guests prior to voyage sailing, as this typically results in higher overall spend throughout the cruise journey. While NCLH was ahead of estimates for Q1, full-year guidance was only reiterated as the company stayed somewhat cautious.
On the balance sheet, NCLH’s total debt position was $13.1B and the company’s liquidity was approximately $1.9B, consisting of $701M of cash, nearly $600M of availability under its revolving loan facility and a $650M undrawn commitment.
Norwegian Cruise Line Holdings (NCLH) rallied 7.00% to $14.29 in Monday morning trading vs. the 52-week trading range of $10.31 to $20.39.
More on Norwegian Cruise Line Holdings:
Norwegian Cruise Line rallies after Q1 results shine
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