Driven by a strong booking environment and the above-expectations performance of the new Norwegian Bliss, Norwegian Cruise Line Holdings (NLCH) posted record earnings in the second quarter, and is on pace for a record-setting 2018, according to the company’s new second quarter earnings report.
NCLH, the parent company of the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, reported GAAP net income of $226.7 million for the second quarter of 2018, up from $198.5 million last year. Net revenue increased 13.7 percent to $1.2 billion, which the company attributed to strong organic pricing growth across all of its core markets, as well as an increase in capacity days with the addition of the Norwegian Joy and Norwegian Bliss to Norwegian Cruise Line’s fleet.
In a written statement NLCH President and CEO Frank Del Rio said that global consumer cruise demand shows no signs of slowing, and that the introduction of the Norwegian Bliss surpassed the company’s expectations.
“The strong demand environment is expected to continue driving higher pricing in the back half of the year,” Del Rio said.
For the full year of 2018, NLCH said it expects to generate record earnings, and it has increased its outlook above the high end of its previous guidance. The company also increased its net yield growth guidance on a constant currency basis by 75 basis points, to approximately 3.25 percent.
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