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Norwegian Cruise Line
🇺🇸 NYSE:NCLH
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•
Dec 31, 2021

Norwegian Cruise Line Q4 2021 Earnings Report

Reported financial results for the fourth quarter and full year ended December 31, 2021, and provided a business update.

Key Takeaways

Norwegian Cruise Line Holdings reported their Q4 2021 financial results, revealing that approximately 70% of their capacity was operating by year-end across their three brands. Despite operational challenges caused by the Delta and Omicron COVID surges, the company's booked position and pricing remain strong, especially for the second half of 2022 and into 2023.

Operations restarted on 75% of capacity, safely carrying over 230,000 guests.

Booked position and pricing remain strong, particularly for the second half of 2022 and into 2023.

Approximately 70% of capacity was operating by year-end 2021.

Expects to have 85% of capacity operating by the end of the first quarter of 2022, with the full fleet expected to be back in operation during the early part of the second quarter of 2022.

Total Revenue
$487M
Previous year: $9.58M
+4988.6%
EPS
-$1.95
Previous year: -$2.33
-16.3%
Gross Profit
-$230M
Previous year: -$197M
+16.6%
Cash and Equivalents
$2.7B
Previous year: $3.3B
-18.2%
Free Cash Flow
-$529M
Previous year: -$711M
-25.6%
Total Assets
$0
Previous year: $18.4B
-100.0%

Norwegian Cruise Line

Norwegian Cruise Line

Forward Guidance

The Company expects to report a net loss for the first quarter of 2022 and expects to report a net loss until the Company is able to resume regular voyages. Based on its current trajectory and market and public health conditions, the Company expects to have positive Adjusted Net Income for the second half of 2022.

Positive Outlook

  • Positive Adjusted Net Income expected for the second half of 2022.
  • Momentum continues building as we approach 85% of our capacity expected to be in operation at the end of the first quarter.
  • Opportunistic in accessing the capital markets to optimize our capital structure
  • Eliminating high-cost debt incurred during the crisis.
  • Expect to achieve positive Operating Cash Flow in the second quarter

Challenges Ahead

  • Will report a net loss for the first quarter of 2022
  • Expects to report a net loss until the Company is able to resume regular voyages.
  • Cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty
  • Still impacted by COVID-19 pandemic
  • First quarter 2022 monthly average cash burn to increase to approximately $390 million

Company Overview

Full financial data and analysis

View Norwegian Cruise Line