Summary by Futu AI
Norwegian Cruise Line Holdings posted record Q2 2024 revenue of $2.4B, up 8% YoY, with net income of $163.4M and EPS of $0.35. Adjusted EBITDA grew 14% to $587.7M, exceeding guidance of $555M, while Adjusted EPS rose 33% to $0.40. Performance was driven by strong revenue growth and continued cost reduction efforts.The company achieved 105.9% occupancy in Q2, with Net Yield growth beating guidance by 200 basis points at 6.3%. Total revenue per Passenger Cruise Day increased approximately 2% YoY. The company's advance ticket sales reached an all-time high of $3.9B, up 11% from 2023. Net Leverage improved to 5.9x, achieving the year-end goal 6 months early.Management raised full-year 2024 guidance for the third time, increasing Net Yield growth projection to 8.2% from 7.2%, and Adjusted EBITDA guidance by $50M to $2.35B. Full-year Adjusted EPS guidance was raised 8% to $1.53, representing expected growth of 120% compared to 2023. The company maintains its cost guidance flat year-over-year excluding dry-dock impacts.
