NCL’s parent company posted strong financials for the second quarter, leading Norwegian Cruise Line Holdings to raise its full-year guidance for the third time this year. It beat analysts’ expectations on several metrics, seeing its share price rise.
Record Second-Quarter Revenue
NCLH reported a Q2 net income of $163.4 million, double the profit from 2023. Revenues were up by 8.4%, on total Q2 revenue of $2.37 billion, which is a record. The “robust market demand” is still continuing, according to group CEO Harry Sommer. Overall occupancy reached 105.9% for the quarter.
NCLH revised the profit guidance for the full year by 8%. The results represent a combination of strong sales and disciplined cost management, said Sommer. “The momentum we are garnering from strong yield growth further bolsters our confidence in achieving our previously announced 2026 financial and sustainability targets.” The quarterly fuel bill was $175 million.
Strong demand remains for all three NCLH brands – Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises – for sailings in all regions. The quarter ended with advance ticket sales at an all-time high of $3.9b, which is around 11% up on 2023. Most new bookings are now for 2025. Onboard sales revenue remains strong, with a 15% rise in pre-booked onboard revenue per capacity day.
The group is bullish for the second half of 2024. “We continue to see robust demand into the back half of the year and are committed to improving, reducing costs, and restoring our margins in a disciplined manner,” the company said.
Forward bookings for the third quarter are heavily focused on Alaska and Europe cruises, where there is “high demand from North American customers,” said CFO Mark Kempa. The company closed the quarter with a slightly reduced total debt, which is now at $13.4 billion.
