Norwegian Cruise Line Q2 Adj. Loss Narrower Than Estimates - Quick Facts

Norwegian Cruise Line Holdings Ltd. (NCLH) reported Friday that its net loss for the second quarter was $717.8 million or $1.94 per share, compared to net loss of $715.2 million or $2.99 per share in the prior-year quarter.

Excluding items, adjusted loss for the quarter was $1.93 per share, compared to adjusted earnings of $2.78 per share in the prior-year quarter.

Revenue for the quarter plunged to $4.4 billion from $16.9 billion in the same quarter last year as voyages were once again suspended for the entire quarter.

On average, analysts polled by Thomson Reuters expected the company to report loss of $1.99 per share on revenues of $9.44 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it will report a net loss for the third quarter and expects to report a net loss until the Company is able to resume regular voyages.

The Company also announced its phased relaunch plans for all 28 ships across its three brands which began with Norwegian Jade on July 25, 2021 and continues through April 1, 2022.

The first cruise to commence in the United States is scheduled on August 7, 2021 with Norwegian Encore sailing to Alaska from Seattle. The company expects to have approximately 40% of its fleet capacity operating by the end of the third quarter 2021 and approximately 75% by year-end 2021 with the full fleet expected to be back in operation by April 1, 2022.

2022 booking and pricing trends continue to be very positive driven by strong pent-up demand and the Company is experiencing robust future demand across all brands.

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