Norwegian Cruise Line (NCLH) Q3 Earnings Beat, '18 EPS Up
Zacks Investment Research | Nov 07, 2018 10:55PM ET
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) performed very well in the third quarter of 2018, delivering better-than-expected earnings per share as well as revenues. The company’s earnings (excluding 16 cents from non-recurring items) of $2.27 per share outpaced the Zacks Consensus Estimate of $2.21. The bottom line also increased 22% on a year-over-year basis. Higher revenues aided the quarterly results.
Revenues came in at $1,858.36 million, which surpassed the Zacks Consensus Estimate of $1,838.3 million and improved 12.5% on a year-over-year basis. The upside was driven by an 11.9% increase in passenger ticket revenues to $1,334.46 million. The same from onboard and other sources was up approximately 14% on a year-over-year basis to $523.9 million. Gross yield (total revenue per Capacity Day) increased 4.5% in the quarter on a year-over-year basis.
Net yield grew 4% on a constant-currency basis. The measure was up 3.9% on a reported basis. Fuel price per metric ton (net of hedges) increased 7.1% to $510 in the quarter under review. Total cruise operating expenses were up 10.8% to $928.94 million due to a 7.6% rise in Capacity Days.
Norwegian Cruise Line Holdings Ltd. Price, Consensus and EPS Surprise
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