Earnings

Norwegian Cruise Line posts mixed results ahead of first U.S. voyage since last year

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The Norwegian Dawn cruise ship arriving in the French Mediterranean port of Marseille, July 27, 2021.
Gerard Bottino | SOPA Images | LightRocket | Getty Images

Norwegian Cruise Line reported mixed second-quarter results on Friday ahead of its first cruises in the U.S. since last year.

Shares of the company fell less than 1% in premarket trading.

Here’s how the company did for its second quarter ended June 30 compared with what analysts surveyed by Refinitiv were anticipating:

  • Loss per share: $1.93 adjusted vs. $1.97 expected
  • Revenue: $4.37 million vs. $10 million expected

During its second-quarter, the company reported a net loss of $717.8 million, or $1.94 per share, compared with a loss of $715.2 million, or $2.99 per share, a year earlier.

Excluding items, the company lost $1.93 per share, which was narrower loss than the $1.97 per share loss expected by analysts surveyed by Refinitiv.

Revenue fell to $4.37 million, far short of the $10 million analysts had expected.

Shares of Norwegian Cruise Line have fallen nearly 5% this year, as the cruise industry remained shut down due to Covid-19.

At the height of the pandemic, there were several high-profile outbreaks aboard ships that prompted the Centers for Disease Control and Prevention to impose harsh restrictions on cruise operators.

Earlier this year, as vaccinations provided hope of an industry rebound, cruise stocks were rising, but the spread of the highly contagious delta variant in recent weeks has reversed the stock’s trend.

Last month, Norwegian Cruise Line filed a lawsuit against the Florida surgeon general to put an end to the state’s law barring businesses from being able to require customers to show proof of vaccination. In the court filing, the company said it would like to require guests to show proof of vaccinations on all of its cruises.

This is breaking news. Please check back for updates.

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