Shares of Norwegian Cruise Line Holdings Ltd. NCLH ran up 2.9% toward a 7-week high in premarket trading Monday, after the cruise operator reported first-quarter results that beat expectations and provided an upbeat full-year outlook. Net losses narrowed to $159.3 million, or 38 cents a share, from $982.7 million, or $2.35 a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share losses of 30 cents were narrower than the FactSet loss consensus of 42 cents. Revenue more than tripled, rising 249.1% to $1.82 billion, above the FactSet consensus of $1.74 billion. Passenger ticket revenue grew 253.0% to $1.21 billion, topping the FactSet consensus $1.20 billion, and onboard and other revenue climbed 241.6% to $613.1 million to beat expectations of $574.0 million. For 2023, the company expects adjusted earnings per share of “approximately” 75 cents, above the current FactSet consensus of 71 cents. The company trimmed its outlook for net per diem growth versus 2019 to 8.50% to 10.0% from 8.75% to 10.25%. The stock has rallied 9.1% year to date through Friday, while the S&P 500 SPX has advanced 8.6%.
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