In This Article:
Horacio Villalobos / Corbis / Getty Images
KEY TAKEAWAYS
-
Norwegian Cruise Line Holdings shares plunged 9% soon after the opening bell Wednesday, after the company posted earnings that missed analysts’ estimates.
-
The company said it had seen some "softening" in bookings, though it maintained its outlook for 2025.
-
The company’s stock lost about a third of its value since the start of the year through Tuesday's close.
Norwegian Cruise Line Holdings (NCLH) shares plunged 9% soon after the opening bell Wednesday, after the company posted earnings that missed analysts’ estimates and said it had seen some "softening" in bookings amid economic uncertainty.
The Miami-based cruise operator posted first-quarter adjusted earnings per share (EPS) of $0.07 on revenue that fell 3% year-over-year to $2.13 billion. Analysts polled by Visible Alpha had projected $0.09 and $2.15 billion, respectively.
"The Company has seen softening in its 12-month forward booked position but continues to remain within the optimal range, even amid ongoing macroeconomic volatility," Norwegian said.
The cruise line maintained its outlook for 2025, anticipating adjusted EPS of $2.05, increasing about 13% year-over-year.
“While we recognize there may be potential pressures on the top line, we believe these can be effectively offset by the continued execution of our cost savings initiatives," CEO Harry Sommer said.
The company’s stock lost about a third of its value since the start of the year through Tuesday's close.
UPDATE—April 30, 2025: This article has been updated to include refreshed share prices.
Read the original article on Investopedia