Norwegian Cruise Line Holdings experienced a significant stock price increase Thursday following the release of stronger-than-anticipated financial results for the third quarter. The company reported revenue of $2.95 billion, surpassing Wall Street consensus estimates of $2.88 billion according to LSEG analyst data.
The cruise operator’s profitability metrics also outperformed expectations. Net income for the quarter reached $491 million, translating to $1.07 per share. Adjusted earnings before interest, taxes, depreciation and amortization totaled $937 million, exceeding the company’s prior guidance of $874 million. Adjusted earnings per share came in at $1.12, surpassing both the company’s previous guidance of 90 cents and analyst expectations of 94 cents per LSEG.
Based on its better-than-expected performance, Norwegian raised its guidance for the full year. The company now projects adjusted EBITDA of $2.55 billion and adjusted earnings per share of approximately $1.70. The company noted that bookings had experienced modest improvements since the previous reporting period, though current levels remained below the company’s target range.
Management outlined plans to support future demand through operational and marketing initiatives. The company intends to launch a new marketing platform in January and expects that planned enhancements, including a new waterpark at its Great Stirrup Cay private island destination, will drive stronger customer demand.
In personnel developments announced the same day, Chief Financial Officer Mark Kempa will depart the organization after more than 25 years of service. Meghan Montana, who currently serves as chief strategy officer, will assume the chief financial officer role effective January 1.
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