Norwegian Cruise Line tops Q1 estimates, raises FY23 profit forecast

Norwegian Cruise Line (NYSE:) shares are trading around 2% higher Monday premarket after the company topped Q1 earnings estimates and raised its full-year profit forecast.

The cruise line company a Q1 adjusted loss per share of $0.30, $0.12 better than the analyst estimate of a loss of $0.42 per share. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.74B.

In addition, NCLH said its total revenue per Passenger Cruise Day increased by approximately 17.5%.

The easing of COVID-19 restrictions and protocols has boosted demand for cruises, with consumers also spending money on the many on-board activities offered.

NCLH also stated that the cumulative booked position for the remainder of 2023 “continues to be at record levels and at higher pricing.”

As a result of the positive trading period, NCLH now sees full-year 2023 adjusted EPS at $0.75, above the previously forecast $0.70.