Norwegian Cruise Line beats by $0.06, reports revs in-line; guides Q4 EPS below consensus; guides FY18 EPS above consensus
- Reports Q3 (Sep) earnings of $2.27 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $2.21 and versus prior guidance of $2.20; revenues rose 12.5% year/year to $1.86 bln vs the $1.85 bln S&P Capital IQ Consensus.
- Co issues downside guidance for Q4, sees EPS of ~$0.78, excluding non-recurring items, vs. $0.81 S&P Capital IQ Consensus. Sees Q4 net yield ~3.75% as reported and ~4.0% in constant currency.
- Co issues upside guidance for FY18, sees EPS of ~$4.85, excluding non-recurring items, vs. $4.81 S&P Capital IQ Consensus. Sees FY18 net yield ~3.6% as reported and ~3.3% in constant currency.
- "The robust booking environment for cruise vacations is alive and well as evidenced by our stellar booked position for 2019, which continues to exceed this year's record levels, with booking momentum accelerating for sailings throughout 2019 and extending into 2020," said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. "We are well-positioned to achieve the three-year double-digit Adjusted EPS CAGR, net leverage and Adjusted ROIC targets provided at our 2018 Investor Day, while at the same time returning meaningful capital to shareholders, despite rising fuel prices and fluctuations in foreign exchange rates.