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Norwegian Cruise Line Boosts 2024 Guidance Yet Again: Q2 Profits Surge As Demand Stays High

Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) reported second-quarter fiscal 2024 sales growth of 7.6% year-over-year to $2.372 billion on 4% capacity growth, missing the consensus of $2.383 billion. Operating income for the quarter was $341.56 million (+25.3% YoY), and the margin expanded by 204 bps to 14.4%. Adjusted EPS improved to $0.40 from $0.30 a year ago, beating the consensus of $0.35. Adjusted EBITDA increased 14.2% YoY to $587.67 million, and the margin expanded by 143 bps to 24.8%. Occupancy for the quarter was 105.9%, and total revenue per Passenger Cruise Day increased ~2% YoY. Gross margin per Capacity Day was up 7% YoY. NCLH’s total debt was $13.4 billion. Net Leverage was 5.9x for the 12 months ended June. Total cruise operating expenses increased to ...