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Norwegian Cruise Line Warns Of Coronavirus Impact On Q1 Results; Stock Down

Norwegian Cruise Line Holdings Ltd. (NCLH) disclosed in a regulatory filing that it believes ongoing effects of COVID-19 on its operations and global bookings have had, and will continue to have, a significant impact on its financial results and liquidity. It also said the negative impact may continue well beyond the containment of such an outbreak.

NCLH is currently trading at $12.48, down $1.96 or 13.59 percent.

As of April 24, 2020, advanced bookings for the remainder of 2020 were meaningfully lower than the prior year, with pricing down mid-single digits. Booking trends indicate demand for cruise vacations in the medium and longer term, with the booked position for 2021 slightly lower compared to same time last year at pricing that is down mid-single digits versus prior year.

The company noted that its operations may be suspended beyond its announced suspension through June 30, 2020 depending on the status of the CDC No Sail Order, the development of the COVID-19 outbreak and any additional voluntary suspensions we may determine appropriate.

The company expects total revenues are currently to be in the range of approximately $1.2 billion to $1.3 billion for the three months ended March 31, 2020, compared to $1.4 billion for the three months ended March 31, 2019.

It expects to incur a net loss ranging from $1.8 billion to $1.9 billion as compared to net income of $118 million for the three months ended March 31, 2019.

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