Norwegian Cruise shares surge 4% after earnings top estimates

Norwegian Cruise shares surge 4% after earnings top estimates

Norwegian Cruise Line Holdings Ltd.’s shares NCLH, +4.17% surged 4% in early trade Thursday, after the company reported stronger-than-expected earnings for the third quarter. The Miami, Fla-based cruise operator said it hd net income of $470.4 million, or $2.11 a share, in the quarter, up from $400.7 million, or $1.74 a share, in the year-earlier quarter. Adjusted per-share earnings came to $2.27, ahead of the FactSet consensus of $2.21. revenue rose 12.5% to $1.9 billion to top the FactSet consensus of $1.8 billion. The company raised its full-year adjusted EPS guidance to $4.85. “The robust booking environment for cruise vacations is alive and well as evidenced by our stellar booked position for 2019, which continues to exceed this year’s record levels, with booking momentum accelerating for sailings throughout 2019 and extending into 2020,” CEO Frank Del Rio said in a statement. Shares have fallen 6% in 2018, while the S&P 500 SPX, -0.09% has gained 5%.

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