Norwegian Cruise forecasts upbeat first-quarter profit on robust demand
(Reuters) – Norwegian Cruise Line Holdings forecast a first-quarter profit on Tuesday betting on higher ticket prices and steady demand in the U.S. for cruises to the Caribbean and Europe.
The company’s shares rose 5.5% to $16.80 in premarket trading.
Cruise operators are now experiencing record levels of bookings in 2024 as travelers look to spend on novel experiences and are choosing cruises over land-based alternatives such as hotels or theme parks.
This has given companies including Carnival Corp and Royal Caribbean more room to hike prices on their itineraries and offset still-high labor and fuel costs.
Norwegian Cruise forecast an adjusted profit of 12 cents per share for the first quarter, compared with analysts’ estimates of a loss of 20 cents per share, according to LSEG data.
The company’s fourth-quarter revenue rose to $1.99 billion from $1.52 billion a year earlier. Analysts had expected $1.97 billion.
(Reporting by Granth Vanaik and Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.