Norwegian Cruise Line Q4 2020 Earnings Report
Key Takeaways
Norwegian Cruise Line Holdings reported a GAAP net loss of $738.9 million for the fourth quarter of 2020, with revenue declining to $9.6 million due to the complete suspension of voyages. The company's cash and cash equivalents were $3.3 billion as of December 31, 2020, and the average monthly cash burn for the quarter was approximately $190 million.
Revenue decreased to $9.6 million compared to $1.5 billion in the prior year due to the complete suspension of voyages in the quarter.
GAAP net loss was $(738.9) million or EPS of $(2.51) compared to net income of $121.3 million or EPS of $0.56 in the prior year.
Adjusted Net Loss was $(683.8) million or Adjusted EPS of $(2.33) in 2020.
Cash and cash equivalents was $3.3 billion as of December 31, 2020.
Norwegian Cruise Line
Norwegian Cruise Line
Forward Guidance
As a consequence of the COVID-19 pandemic, while the Company cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty, it will report a net loss for the first quarter ending March 31, 2021 and expects to report a net loss until the Company is able to resume voyages.