NYSE$NCLH
Norwegian Cruise Line Holdings · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported positive momentum with key operational and financial milestones, including positive Adjusted EBITDA in the third quarter for the first time since the start of the pandemic.
Norwegian Cruise Line Holdings reported a revenue increase to $1.6 billion compared to $153.1 million in 2021. The company achieved positive Adjusted EBITDA of approximately $28 million. Occupancy reached approximately 82%, a 17-point improvement. The company anticipates positive Adjusted Free Cash Flow for Q4 2022.
- Achieved positive Adjusted EBITDA for the third quarter of 2022.
- Targeting positive Adjusted Free Cash Flow for the fourth quarter of 2022.
- 2023 booked position is equal to 2019’s record levels and at record pricing.
- Total revenue per Passenger Cruise Day was up approximately 14% in the third quarter of 2022 versus 2019.
Headline financials
Revenue & EPS history
Norwegian Cruise Line · Revenue · Quarterly
$1.62B
Forward guidance
Company expects occupancy to be in the mid-to-high 80% range for the fourth quarter of 2022. Total revenue is expected to be $1.4-1.5 billion in the fourth quarter of 2022. Interest Expense, net is expected to be approximately $170 million for the fourth quarter of 2022.
Tailwinds
- Occupancy is expected to be in the mid-to-high 80% range for the fourth quarter of 2022.
- Total revenue is expected to be $1.4-1.5 billion in the fourth quarter of 2022.
- Total revenue per Passenger Cruise Day is forecast to increase approximately 20% versus the fourth quarter of 2019.
- Adjusted Net Cruise Cost Excluding Fuel per Capacity Day is expected to decrease by approximately 10% in second half of 2022 versus first half of 2022.
- Depreciation and Amortization is expected to be approximately $195 million for the fourth quarter of 2022
Headwinds
- The Company will report a net loss for the fourth quarter of 2022.
- Current cumulative booked position for the fourth quarter of 2022 is below the comparable 2019 period.
- Effects of the Russia-Ukraine conflict and current macroeconomic conditions.
- Company cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty.
- Interest Expense, net is expected to be approximately $170 million for the fourth quarter of 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
-0.9%
Avg return
Earnings day
-1.0%
Avg return
5 days after
+0.2%
Avg return
30 days after
49%
28 / 57 earnings
Positive
+18.6%
Q3 2020
Best reaction
-15.7%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.6% | -9.2% | -3.3% | |
| Q4 2025 | -10.6% | -19.1% | -21.8% | |
| Q3 2025 | -15.4% | -14.0% | -15.2% | |
| Q1 2025 | -7.8% | -0.1% | +1.6% | |
| Q4 2024 | -5.3% | -15.6% | -23.6% | |
| Q3 2024 | +4.4% | +8.8% | +12.8% | |
| Q2 2024 | -6.5% | -17.4% | -3.6% | |
| Q1 2024 | -15.7% | -14.4% | -12.3% | |
| Q4 2023 | +17.4% | +21.1% | +31.4% | |
| Q3 2023 | -3.9% | -3.6% | +20.7% | |
| Q2 2023 | -15.5% | -18.7% | -24.9% | |
| Q1 2023 | +7.6% | +5.8% | +11.2% | |
| Q4 2022 | -8.2% | -1.6% | -19.6% | |
| Q3 2022 | -5.3% | +7.1% | -5.7% | |
| Q2 2022 | +0.2% | +4.7% | +5.5% | |
| Q1 2022 | -3.3% | +1.7% | -13.7% | |
| Q4 2021 | +1.9% | -4.2% | +3.0% | |
| Q3 2021 | -0.0% | +5.3% | -31.8% | |
| Q2 2021 | +2.0% | +8.6% | +1.8% | |
| Q1 2021 | -4.6% | -7.3% | +7.6% | |
| Q4 2020 | -5.5% | -0.3% | -14.2% | |
| Q3 2020 | +18.6% | +18.2% | +60.6% | |
| Q2 2020 | +2.0% | +14.0% | +34.3% | |
| Q1 2020 | +5.9% | +20.6% | +98.8% | |
| Q4 2019 | -9.7% | -24.4% | -83.2% | |
| Q3 2019 | -0.5% | -1.5% | +5.1% | |
| Q2 2019 | +4.2% | +5.9% | +9.4% | |
| Q1 2019 | +1.0% | -1.8% | -8.3% | |
| Q4 2018 | +3.1% | +3.5% | +3.6% | |
| Q3 2018 | +1.6% | +3.1% | -0.9% | |
| Q2 2018 | +3.4% | +6.3% | +9.1% | |
| Q1 2018 | -5.1% | -6.6% | -1.3% | |
| Q4 2017 | -1.4% | -4.2% | -12.5% | |
| Q3 2017 | -0.6% | -0.8% | -1.0% | |
| Q2 2017 | +3.0% | +0.2% | -1.4% | |
| Q1 2017 | -5.1% | -7.7% | -8.3% | |
| Q4 2016 | +5.1% | +5.3% | +4.7% | |
| Q3 2016 | -3.0% | +5.6% | +13.7% | |
| Q2 2016 | -13.2% | -10.5% | -19.9% | |
| Q1 2016 | -5.2% | — | — | |
| Q4 2015 | +8.7% | — | — | |
| Q3 2015 | -7.6% | — | — | |
| Q2 2015 | -1.3% | — | — | |
| Q1 2015 | +11.1% | — | — | |
| Q4 2014 | +6.9% | — | — | |
| Q3 2014 | +6.1% | — | — | |
| Q2 2014 | +3.5% | — | — | |
| Q1 2014 | +3.5% | — | — | |
| Q4 2011 | +0.9% | — | — | |
| Q4 2013 | -5.2% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q2 2013 | -3.9% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | +1.5% | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro