For the ultimate culinary journey, Marina, the first custom-built ship for Oceania Cruises, which was designed for foodies, by foodies, is the perfect choice. This was the first vessel ever to feature a hands-on cooking school, offering guests the chance to hone new skills, savor dishes from destinations they visit, and learn how food connects people and place. Marina offers four always included gourmet specialty restaurants, plus the line's newest culinary venue, Aquamar Kitchen, a wellness-inspired venue ...

Norwegian Cruise Line Holdings Ltd. (NCLH) reported solid fourth-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Both top and bottom lines increased on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Management attributed the performance to the strength of NCLH's business model, the appeal of its product offerings across brands and the effective execution by both shoreside and shipboard teams. A continued focus on marg ...

Debt and Interest Rates - As of December 31, 2024, 94% of the company's debt was fixed and 6% was variable, compared to 95% fixed and 5% variable as of December 31, 2023[381] - A one percentage point increase in annual Term SOFR interest rates would increase the company's annual interest expense by approximately $7.8 million, excluding the effects of capitalization of interest[381] - The company is exposed to market risks from changes in interest rates, foreign currency exchange rates, and fuel prices, which it attempts to mitigate through derivatives[380] Foreign Currency Exposure - The company had foreign currency payments not hedged aggregating €16.0 billion (approximately $16.6 billion) as of December 31, 2024, up from €5.4 billion (approximately $6.0 billion) as of December 31, 2023[382] Fuel Expenses - Fuel expense as a percentage of total cruise operating expense was 12.3% for the year ended December 31, 2024, down from 13.1% for the year ended December 31, 2023[385] - The company hedged approximately 56% and 21% of its projected metric tons of fuel purchases for 2025 and 2026, respectively, as of December 31, 2024[385] - A 10% increase in the weighted-average fuel price would increase anticipated 2025 fuel expense by $65.1 million, partially offset by an increase in the fair value of fuel swap agreements of $34.7 million[386] Newbuild Agreements - The company has eight new effective newbuild agreements, excluding two ships on order for Oceania Cruises scheduled for delivery in 2030 and 2031[382] Financial Metrics - The company’s adjusted EBITDA and adjusted net income metrics are defined in the annual report, reflecting the adjustments made for various income and expense items[15] Financing Activities - The company issued $862.5 million aggregate principal amount of exchangeable senior notes due 2024 on May 8, 2020[15]

For the quarter ended December 2024, Norwegian Cruise Line (NCLH) reported revenue of $2.11 billion, up 6.2% over the same period last year. EPS came in at $0.26, compared to -$0.18 in the year-ago quarter.The reported revenue represents a surprise of +0.96% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $0.11, the EPS surprise was +136.36%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

Norwegian Cruise Line (NCLH) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 136.36%. A quarter ago, it was expected that this cruise operator would post earnings of $0.95 per share when it actually produced earnings of $0.99, delivering a surprise of 4.21%.Over the last four quarters, th ...

Q4 and Full Year 2024 Earnings Conference Call - February 27, 2025 F O R W A R D L O O K I N G S T A T E M E N T S Some of the statements, estimates or projections contained in this presentation are "forward-looking statements" within the meaning of the U.S. federal securities laws intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained, or incorporated by reference, in this ...

EXHIBIT 99.1 Norwegian Cruise Line Holdings Reports Strong Fourth Quarter and Full Year 2024 Financial Results Strong demand drives 2024 revenue up ~11% to full year record Company beats full year guidance across key metrics and announces 2025 full year guidance MIAMI, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (together with NCL Corporation Ltd. ("NCLC"), "Norwegian Cruise Line Holdings", "Norwegian", "NCLH" or the "Company") today reported financial results for the ...

Core Insights - Norwegian Cruise Line Holdings reported a record total revenue of $9.5 billion for 2024, marking an approximate 11% increase compared to 2023, driven by a 3% growth in capacity [5][6] - The company achieved a GAAP net income of $910.3 million, a significant increase of 448% from 2023, with earnings per share (EPS) rising 386% to $1.89 [5][6] - Adjusted EBITDA for 2024 grew by 32% to a record $2.45 billion, compared to $1.86 billion in 2023, with adjusted EPS reaching $1.82 [5][6] Financial Performance - The company generated a record fourth quarter total revenue of $2.1 billion, a ~6% increase compared to Q4 2023, despite a 1% decline in capacity [13] - GAAP net income for Q4 2024 was $254.5 million, a $361 million increase from Q4 2023, with EPS increasing to $0.52 [13] - Full year 2024 Adjusted EBITDA was $2.45 billion, with a gross margin per Capacity Day up 23% compared to 2023 [6][13] Debt and Leverage - Total debt at the end of 2024 was $13.1 billion, with net leverage improving to 5.3x, a two-turn reduction from the previous year [5][16] - The company successfully refinanced $1.8 billion of debt and upsized its revolving credit facility from $1.2 billion to $1.7 billion [13][18] 2025 Guidance - For 2025, the company expects Adjusted EBITDA to be approximately $2.72 billion, an 11% increase from 2024, with adjusted net income projected at $1.07 billion [5][11] - Full year 2025 Adjusted EPS is expected to be around $2.05, reflecting a 13% year-over-year increase [11][21] - The company anticipates a 3% increase in net yield on a constant currency basis for 2025 [11][21] Strategic Initiatives - Norwegian Cruise Line Holdings launched a transformative newbuild program, planning to add eight new vessels, which will provide approximately 25,000 additional berths [6][11] - The company is committed to its "Charting the Course" strategy, aiming to achieve specific financial targets by 2026 [3][11] Booking Environment - The company continues to experience strong consumer demand, with a full year 2024 occupancy rate of approximately 104.9% and a fourth quarter occupancy of 100.8% [15] - Advance ticket sales balance at the end of Q4 2024 was $3.2 billion, indicating robust future bookings [15]

Core Viewpoint - Norwegian Cruise Line Holdings Ltd. (NCLH) is set to report its fourth-quarter 2024 results on February 27, with expectations of strong earnings growth driven by consumer demand and onboard spending increases [1][5]. Earnings Estimates - The Zacks Consensus Estimate for fourth-quarter adjusted earnings is 11 cents per share, reflecting a year-over-year increase of 161.1% [2]. - Revenue estimates are pegged at $2.09 billion, indicating a 5.2% year-over-year growth [2]. Earnings Prediction Model - The model indicates a negative Earnings ESP of -1.28%, suggesting uncertainty regarding an earnings beat this quarter [3]. - NCLH currently holds a Zacks Rank of 3 (Hold) [4]. Factors Influencing Q4 Results - Strong consumer demand and a solid booking environment are expected to positively impact NCLH's fourth-quarter performance [5]. - Increased onboard spending, particularly from shore excursions and enhanced communication services via Starlink, are anticipated to contribute to revenue growth [5][6]. Revenue Breakdown - Passenger ticket revenues are projected to rise by 1.9% to $1,359 million, while onboard and other revenues are expected to increase by 6.6% to $696.4 million year-over-year [7]. - The number of passengers carried is predicted to grow by 13.4% compared to the previous year [7]. Profitability Outlook - The bottom line is expected to improve due to ongoing cost reduction efforts and margin enhancement initiatives, with adjusted EBITA projected to grow by 27% to $456.7 million [8]. Challenges and Headwinds - NCLH faces challenges such as rising expenses related to commissions and onboard services, inflation, global supply chain disruptions, and geopolitical risks that may impact profitability [9]. Stock Performance and Valuation - NCLH shares have increased by 28.8% over the past year, outperforming the Zacks Leisure and Recreation Services industry and the S&P 500, but lagging behind major competitors like Carnival Corporation and Royal Caribbean [10]. - The company is trading at a forward 12-month price-to-earnings ratio of 12.87X, which is below the industry average, indicating a relatively attractive valuation [14]. Long-term Outlook - NCLH's strong demand, increased onboard spending, and revenue growth from fleet expansion and digital investments support a positive long-term outlook [16]. - However, persistent challenges such as higher expenses and competitive pressures suggest limited near-term upside for the stock [16].

Core Viewpoint - Norwegian Cruise Line Holdings Ltd. (NCLH) is currently undervalued with a forward 12-month price-to-earnings (P/E) multiple of 11.23X, significantly lower than the industry average of 19.08X and competitors like Royal Caribbean Cruises Ltd. (RCL) at 15.32X, Carnival Corporation & plc (CCL) at 12.58X, and OneSpaWorld Holdings Limited (OSW) at 18.86X [1][2] Demand and Financial Performance - The cruise industry is experiencing strong consumer demand, with NCLH reporting a 9% year-over-year growth in net yield for Q3 2024, driven by solid demand across regions, particularly in Alaska, Canada, and New England [4] - NCLH has seen a surge in onboard revenues, especially from shore excursions and enhanced communication services via Starlink high-speed Internet, with forward bookings for 2025 remaining strong and advanced ticket sales growing by 6% year-over-year [5] - The company has strategically extended its booking window, allowing better pricing management and demand optimization, which supports top-line growth and provides visibility into future earnings [6] Strategic Growth Initiatives - NCLH's long-term growth strategy, "Charting the Course," focuses on enhancing guest experiences and driving financial returns through four key pillars: people, product, growth platform, and performance [7] - Upcoming fleet expansions, including ships like Norwegian Aqua and Norwegian Luna, are expected to attract a broader customer base with unique features [8] - Strategic partnerships, such as becoming the official cruise line of the National Hockey League, are enhancing brand visibility and driving bookings [9] Cost Management and Margins - NCLH is on track to achieve $100 million in cost savings by 2024 and a total of $300 million by 2026, which is improving margins [11] - The adjusted operational EBITDA margin rose by approximately 900 basis points to 34.5% over the 12 months ending in Q3 2024, with expectations to close 2024 at 35.3% and target a 39% margin by 2026 [12] Challenges and Market Sentiment - NCLH faces rising operational costs, with total cruise operating expenses increasing to $1.54 billion in Q3 2024, up from $1.48 billion the previous year, due to higher commissions, transportation, and onboard services [13] - Geopolitical risks have led to itinerary adjustments affecting about 10% of Q4 deployment, which could impact demand and revenue [14] - The Zacks Consensus Estimate for NCLH's 2025 EPS has been revised downward by 1% over the past 60 days, indicating market caution [15]