Investor Alert

Feb. 20, 2020, 7:15 a.m. EST

Norwegian Cruise tops estimates for fourth quarter, sees coronavirus shaving 75 cents off 2020 EPS

Norwegian Cruise Line Holdings Ltd. shares (NYS:NCLH) rose 2.9% in premarket trade Thursday, after the company beat earnings estimates for the fourth quarter. The company said it had net income of $121.3 million, or 56 cents a share, in the quarter, down from $154.6 million, or 70 cents a share, in the year-earlier period. Adjusted per-share earnings came to 73 cents, ahead of the 70 cents FactSet consensus. Revenue rose to $1.5 billion from $1.4 billion, ahead of the $1.4 billion FactSet consensus. The company said it expects 2020 EPS to range from $5.40 to $5.60, excluding the impact of the coronavirus that has sickened thousands of people mostly in China and caused it to cancel 40 voyages in Asia. The virus is expected to shave 75 cents off 2020 EPS. "The COVID-19 outbreak continues to impact consumer travel sentiment regarding travel for cruises in Asia and throughout the Company's areas of operation worldwide," the company said. "The duration and extent of this indirect impact cannot be quantified at this time and is therefore not included in the approximately $0.75 known direct impact outlined above." The FactSet consensus is for 2020 EPS of $5.52. Shares have fallen 3% in the last 12 months through Wednesday, while the S&P 500 (S&P:SPX) has gained 22%.

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