Shares of cruise company Norwegian Cruise Line Holdings (NYSE:NCLH) are in the green today after the company posted better-than-anticipated first-quarter numbers.
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Revenue exploded 248.7% year-over-year to $1.82 billion, sailing past estimates by $80 million. Net loss per share at $0.30 too came in narrower than expectations by $0.12. During the quarter, sequential occupancy improved to 101.5% and total revenue per passenger day surged 17.5% as compared to 2019.
Additionally, the company is seeing higher pricing and cumulative bookings for the rest of the year remain at record levels. Separately, Frank J. Del Rio is stepping down as NCLH’s President and CEO. The position is being filled by Harry J. Sommer who has been with the company for 15 years.
Looking ahead, for the year 2023, NCLH expects EPS at $0.75. Adjusted EBITDA is seen landing between $1.8 billion and $1.95 billion.
Overall, the Street has a $15.55 consensus price target on NCLH, implying a potential upside of 16.48% in the stock. Shares of the company have gained nearly 18% so far in 2023 already.
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