Norwegian Cruise Line Q3: Sails Past Expectations, Occupancy Jumps & More

Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) shares are trading higher after the company reported better-than-expected third-quarter results and raised its annual guidance.

NCLH reported third-quarter sales growth of 10.7% year over year to $2.806 billion, based on 4% capacity growth, beating the consensus of $2.77 billion.

Operating income for the quarter was $691.21 million (+32.1% YoY), and the margin expanded by 400 bps to 24.6%.

Adjusted EPS improved to $0.99 from $0.76 a year ago, beating the consensus of $0.94.

Adjusted EBITDA increased 23.8% YoY to $930.99 million, and the margin expanded by 352 bps to 33.2%.

Occupancy for the quarter was 108.1% (106.1% a year ago), and total revenue per Passenger Cruise Day increased ~4.8% YoY. Gross margin per Capacity Day was up 19% YoY.

NCLH’s total debt was $13.4 ...