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Aug. 6, 2021, 7:16 a.m. EDT

Norwegian stock slips after narrower-than-expected loss, but revenue and cash burn missed

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By Tomi Kilgore

Shares of Norwegian Cruise Line Holdings Ltd. /zigman2/quotes/204183397/composite NCLH -3.94% slipped 0.7% in premarket trading Friday, after the cruise operator reported a narrower-than-expected second quarter loss but revenue that was a bit light and cash burn that topped guidance. Net losses came to $717.8 million, or $1.94 a share, after a loss of $715.2 million, or $2.99 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was $1.93, compared with the FactSet loss consensus of $1.97. Revenue fell 74% to $4.4 million, missing the FactSet consensus of $10.0 million, as passenger ticket revenue declined 89% to $1.58 million and onboard and other revenue fell 10% to $2.78 million. Monthly average cash burn for the second quarter was $200 million, above previous guidance of $190 million, as the company prepared for a return to service this summer. The company expects third-quarter monthly average cash burn of $285 million, given the continued phased relaunch of cruises. Norwegian Cruise's stock has shed 13.1% over the past three months through Thursday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.68% has gained 5.4%.

/zigman2/quotes/204183397/composite
US : U.S.: NYSE
$ 22.06
-0.90 -3.94%
Volume: 13.13M
Jan. 18, 2022 3:22p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.57 billion
Rev. per Employee
$4,960
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/zigman2/quotes/210599714/realtime
US : S&P US
4,584.62
-78.23 -1.68%
Volume: 1.88B
Jan. 18, 2022 3:22p
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