Norwegian Cruise Line Holdings Ltd. reported significant financial growth for the three months ended September 30, 2024, with total revenue reaching $2,806,578 (in thousands), a 10.7% increase from $2,536,037 in the same period of 2023. This growth was driven by higher passenger ticket revenue, which rose to $1,944,921 (in thousands) from $1,733,594, and onboard and other revenue, which increased to $861,657 (in thousands) from $802,443.
Operating income for the quarter improved to $691,210 (in thousands), compared to $523,318 in 2023. Net income before income taxes also saw a rise, reaching $481,848 (in thousands), up from $354,177. The net income for the quarter was $474,932 (in thousands), a substantial increase from $345,868 in the prior year. Basic earnings per share increased to $1.08 from $0.81, while diluted earnings per share rose to $0.95 from $0.71.
For the nine months ended September 30, 2024, total revenue was $7,370,285 (in thousands), compared to $6,563,468 in 2023. Net income for this period also saw a significant increase, totaling $655,721 (in thousands) compared to $272,663 in the previous year.
Total cruise operating expenses for the three months ended September 30, 2024, were $1,538,939 (in thousands), up from $1,482,746 in 2023, reflecting a 3.8% increase. The gross cruise cost rose by 4.9%, primarily due to the delivery of two new ships in the latter half of 2023.
As of September 30, 2024, the company reported total assets of $19,786,003 (in thousands), an increase from $19,492,990 at the end of 2023. Total shareholders’ equity significantly increased to $1,135,330 (in thousands) from $300,807. Long-term debt decreased to $11,751,743 (in thousands) from $12,314,147.
Strategically, Norwegian Cruise Line Holdings acquired 100% of Independent Maritime Advisors Ltd. for $37.5 million in April 2024, aimed at enhancing project management for newbuilds. The company operates 32 ships and plans to add 13 more to its fleet from 2025 through 2036, including four Prima Class Ships scheduled for delivery between 2025 and 2028.
Liquidity as of September 30, 2024, was approximately $2.4 billion, including cash and cash equivalents of $332,521 (in thousands) and available borrowings under a $1.2 billion undrawn Revolving Loan Facility. The company anticipates sufficient liquidity to meet its obligations for at least the next twelve months.
About Norwegian Cruise Line Holdings Ltd.
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