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Norwegian Cruise Line Holdings now says it expects to earn $1.18-$1.2 billion in 2019, up from the previous forecast.
The increased projection, made on May 9 as NCLH disclosed its first-quarter financial results, applies to earnings adjusted for several items such as noncash deferred compensation expenses, amortization of intangible assets and redeployment costs for the Norwegian Joy.
The adjustments can be substantial.
For example, for the first quarter of 2019, NCLH had net income of $118.2 million, up from $103.2 million the previous year. After adjustment, the figures were $181.8 million and $137.8 million.
Revenue in the first quarter rose 8.5% to $1.4 billion.
NCLH CEO Frank Del Rio attributed the improved results to “strong pricing growth, robust close-in bookings and higher onboard spend.”
He said the strong first quarter “combined with a strong Wave season that saw new bookings come in at the highest pricing ever at each of our three brands” led to the higher forecast for all of 2019.