The following is a summary of the Norwegian Cruise Line Holdings Ltd (NCLH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Norwegian Cruise Line reported a strong financial performance in Q1 2024 with the adjusted EBITDA nearly doubling compared to the previous year due to stronger pricing and higher occupancy levels.

• Cost management strategies helped in keeping core costs essentially flat year-over-year and adjusted guidance for performance metrics like net yield, adjusted EBITDA, adjusted net income, and adjusted EPS have been raised for the remainder of the year.

• Advanced ticket sales saw an increase of 30% YoY, reaching a record $3.8 billion.

• Net leverage was reduced by a full turn compared to the end of 2023.

Business Progress:

• An 8% capacity expansion was achieved in comparison to 2023 along with a record 12-month forward booking position.

• A historic newbuild order that includes eight new ships across all three brands was announced during Q1.

• A two-ship pier at Great Stirrup Cay is under construction aimed at enhancing the infrastructural capabilities in private island destinations.

• Observing substantial progress in its global sustainability program, 50% of the fleet is now equipped with shoreside technology.

• The company performed well and their commitment to diversity and responsible business practices were recognized by Just Capital and Forbes in 2024.

More details: Norwegian Cruise IR

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