Norwegian Cruise Line Holdings reports revenue growth amid yield pressure
Quarterly performance topped parts of the company’s guidance as management continued a turnaround focused on marketing, revenue management and cost efficiency.
Norwegian Cruise Line Holdings reported higher revenue compared with the prior year and adjusted earnings per share above its own guidance. However, adjusted EBITDA declined slightly year over year as pricing pressure weighed on yield.
The company said Net Yield, its measure of net revenue per capacity day, decreased from the prior-year period. The decline was smaller than management had forecast.
Chief executive John Chidsey said Norwegian remains in the early stages of its turnaround. He identified marketing, revenue management and cost efficiency as key priorities for the company.
Norwegian also elected to settle certain exchangeable notes in cash, a move intended to reduce diluted shares. Separately, it launched a private offering of senior notes to refinance existing debt.
Norwegian Cruise Line Holdings operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises.
