Q3 2024 Norwegian Cruise Line Holdings Ltd Earnings Call Transcript
Key Points
- Norwegian Cruise Line Holdings Ltd (NCLH) achieved the highest quarterly gross revenue and adjusted EBITDA in the company's history.
- The company increased its full-year guidance for the fourth time this year, demonstrating strong performance and strategic direction.
- NCLH reported a 31% increase in adjusted EPS to $0.99, surpassing guidance despite a negative impact from foreign exchange rates.
- The company is seeing strong demand and pricing across all geographies, particularly in Alaska and Canada-New England voyages.
- NCLH has made significant advancements in sustainability, receiving an 'A' rating from MSCI and top recognition at the ESG Shipping Awards.
- The company faces a $0.06 negative impact on EPS from foreign exchange rates.
- There are headwinds from rerouted Middle East sailings, which impact fourth-quarter deployment and yield.
- NCLH's leverage remains higher than preferred, although progress is being made to reduce it.
- The company anticipates a challenging comparison for net yield growth in the first quarter of 2025 due to strong prior-year performance.
- There is a need to address upcoming debt maturities, including $1.4 billion notes due in 2026, which will become current in early 2025.
Greetings, and welcome to the Norwegian Cruise Line third-quarter 2024 earnings conference call and webcast. (Operator Instructions) As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to Sarah Immon, Head of Investor Relations. Please go ahead, Sarah.
Thank you, and good morning, everyone. Thanks for joining us for our third-quarter 2024 earnings and business update call. I'm joined today by Harry Sommer, President and CEO of Norwegian Cruise Line Holdings; and Mark Kempa, Executive Vice President and CFO.
As a reminder, this conference call is being simultaneously webcast on the company's Investor Relations website at www.nclhltd.com/investors. Throughout the call, we refer to a slide presentation that can be found on our website.
The conference call and presentation will be available for replay for 30 days
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