Norwegian Cruise Line reports Q2 adjusted EPS 40c, consensus 35c

Reports Q2 revenue $2.4B, consensus $2.38B. The Company’s sustained focus on margin enhancement drove another quarter of improvement in operating costs. Gross Cruise Costs per Capacity Day was approximately $315 for the quarter. Adjusted Net Cruise Costs excluding Fuel per Capacity Day was approximately $163 on an as reported and Constant Currency basis, better than guidance, and flat year-over-year when excluding the expected ~$9 impact of the incremental Dry-docks and the related reduction in Capacity Days. Occupancy was 105.9% for the quarter, slightly above guidance, and total revenue per Passenger Cruise Day increased approximately 2%, compared to second quarter 2023. “2024 continues to be an exceptional year in terms of our financial performance, as evidenced by our strong second quarter results which exceeded guidance across the board. As we raise our full-year guidance a third time, we expect our Adjusted EPS to grow approximately 120% compared to 2023, driven mainly by our ability to capitalize on the robust market demand and ensuring our guests are vacationing better and experiencing more across our brands,” remarked Harry Sommer, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “The momentum we are garnering from strong yield growth, disciplined cost management and the initiatives that comprise our Charting the Course strategy further bolsters our confidence in achieving our previously announced 2026 financial and sustainability targets.”