Norwegian Cruise Line Holdings enjoyed a bumper Q2 financial performance, as the company raised full year guidance for the third time this year.
It beat market expectations, leading to a bump in the share price.
NCLH posted Q2 net income of $163.4 million, doubling the profit from a year ago.
“Performance was driven by strong revenue growth and a continued focus on cost reductions,” NCLH said.
Cruise ticket revenues were up 8.4% with total revenue for the quarter at $2.37 billion.
CEO Harry Sommer said ‘robust market demand’ continues with occupancy at 105.9% for the second quarter.
NCLH’s new adjusted profit guidance for the full financial year was up 8%.
The company cut total debt slightly which now stands at $13.4 billion as of end-June.
“We made significant progress in cutting net leverage and de-risking the balance sheet in the first half of 2024,” said Chief financial officer Mark Kempa said.
Overall, it is turning into an ‘exceptional year in terms of our financial performance,’ Sommer added.
“The momentum from strong yield growth and disciplined cost management further bolsters our confidence.”
