NCL Holdings reports record first quarter

US cruise and stay
By Lisa James
02/05/2024
Home » NCL Holdings reports record first quarter

Norwegian Cruise Line Holdings has adjusted its full-year guidance for 2024 after reporting a record first quarter.

The company, which owns Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises, reported total revenue of $2.2 billion in the three months to March 31 2024, an increase of 20%. Capacity was up 8%.

It said the increase in revenue ‘almost fully offsets the impact from the redeployed voyages related to the Middle East and Red Sea’.

Adjusted earnings before interest, taxes, and depreciation and amortisation (EBITDA) nearly doubled over the previous year, to $464 million, above the company’s previous guidance of $450m.

The company has adjusted its full-year EBITDA guidance by $50m, from $2.20 billion to $2.25bn.

President and CEO Harry Sommer said: “We kicked off 2024 with impressive momentum, with record bookings in the first quarter propelling us to continue our all-time high booked position and an unprecedented level of advance ticket sales. These achievements demonstrate the continued growing demand we are experiencing for our product and offerings.

“Recently, we announced the most comprehensive newbuild program in our Company’s history- eight state-of-the-art vessels, each a new class for our three award-winning brands as well as the construction of a new pier at Great Stirrup Cay.”

The company will unveil its multi-year strategy, operational and financial updates at its investor day later this month.

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