HighGravityDataNorwegian Cruise Line Holdings — Oct 31, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-24-005927
Showing in the filing
Adjusted Net Cruise Cost Excluding Fuel per Capacity Day (excluding Dry-dock impact, As Reported)
“$150”
Period
Q4 FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 64
Net Yield on a Constant Currency basis for FY2024
“approximately 9.4%”
Adjusted EBITDA for FY2024
“approximately $2.425 billion”
Adjusted Operational EBITDA Margin for FY2024
“35.3%”
Adjusted Net Cruise Cost excluding Fuel per … for FY2024
“flat to prior year excluding the impact of Dry-docks”
Adjusted Net Income for FY2024
“approximately $855 million”
Net Leverage for FY2024
“~5.4 times”
Adjusted ROIC for FY2024
“double-digit”
Charting the Course targets for FY2026
“Remain committed to Charting the Course targets; progressing towards achieving 2026 goals.”
Adjusted EBITDA growth vs. initial for FY2024
“$225 million above our initial guidance, growing 30% year-over-year”
Adjusted EPS growth vs. initial for FY2024
“$0.42 above initial guidance, growing approximately 136% year-over-year”
Occupancy for FY2024
“approximately 105.0%”
Net Yield ($ per Capacity Day, As Reported) for Q4 FY2024
“~$261”
Net Yield ($ per Capacity Day, Constant Curr… for Q4 FY2024
“~$260”
Net Yield (% change, As Reported) for FY2024
“~9.5%”
Net Yield ($ per Capacity Day, Constant Curr… for FY2024
“~$293”
Adjusted Net Cruise Cost Excluding Fuel per … for Q4 FY2024
“~$155”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2024
“~$159”
Capacity Days for Q4 FY2024
“~5.85 million”
Capacity Days for FY2024
“~23.46 million”
Occupancy for Q4 FY2024
“~101.0%”
Adjusted EBITDA for Q4 FY2024
“~$445 million”
Adjusted Net Income for Q4 FY2024
“~$40 million”
Adjusted EPS for Q4 FY2024
“~$0.09”
Adjusted EPS for FY2024
“$1.65”
Diluted Weighted-Average Shares Outstanding for Q4 FY2024
“~445 million”
Diluted Weighted-Average Shares Outstanding for FY2024
“~515 million”
Depreciation and Amortization for Q4 FY2024
“~$230 million”
Depreciation and Amortization for FY2024
“~$895 million”
Adjusted Interest Expense, net for Q4 FY2024
“~$175 million”
Adjusted Interest Expense, net for FY2024
“~$720 million”
Adjusted Net Cruise Cost Excluding Fuel per … for Q4 FY2024
“$150”
Adjusted Net Cruise Cost Excluding Fuel per … for Q4 FY2024
“$149”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2024
“$155”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2024
“$154”
Euro
“$1.11”
British pound
“$1.34”
Australian Dollar
“$0.69”
Canadian Dollar
“$0.74”
Fuel consumption in metric tons for Q4 FY2024
“246,000”
Fuel consumption in metric tons for FY2024
“995,000”
Fuel price per metric ton, net of hedges for Q4 FY2024
“$700”
Fuel price per metric ton, net of hedges for FY2024
“$714”
Fuel consumption mix (HFO/MGO) for FY2024
“expected to be split approximately evenly between heavy fuel oil and marine gas oil”
% of HFO Consumption Hedged for FY2024
“40 %”
% of HFO Consumption Hedged for FY2025
“46 %”
% of HFO Consumption Hedged for FY2026
“20 %”
Blended HFO Hedge Price / Metric Ton for FY2024
“$397”
Blended HFO Hedge Price / Metric Ton for FY2025
“$410”
Blended HFO Hedge Price / Metric Ton for FY2026
“$373”
% of MGO Consumption Hedged for FY2024
“62 %”
% of MGO Consumption Hedged for FY2025
“54 %”
% of MGO Consumption Hedged for FY2026
“22 %”
Blended MGO Hedge Price / Metric Ton for FY2024
“$743”
Blended MGO Hedge Price / Metric Ton for FY2025
“$721”
Blended MGO Hedge Price / Metric Ton for FY2026
“$667”
Total % of Consumption Hedged for FY2025
“51 %”
Total % of Consumption Hedged for FY2024
“51 %”
Total % of Consumption Hedged for FY2026
“21 %”
Non-newbuild capital expenditures for FY2024
“approximately $575 million”
Non-newbuild capital expenditures for Q4 FY2024
“approximately $142 million”
Newbuild-related capital expenditures, net o… for FY2024
“approximately $0.3 billion”
Newbuild-related capital expenditures, net o… for FY2025
“$0.8 billion”
Newbuild-related capital expenditures, net o… for FY2026
“$0.9 billion”
Net newbuild-related capital expenditures for Q4 FY2024
“approximately $59 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
Full Year 2024 includes an approximate 300 basis point, or approximately $5, impact of increased Dry-dock days and related costs. Excluding this impact, the Adjusted Net Cruise Cost Excluding Fuel per Capacity Day would be declining slightly in the fourth quarter amounting to $150 as reported and $149 in Constant Currency and essentially flat year-over-year, amounting to $155 as reported and $154 in Constant Currency in 2024. Based on guidance and using diluted weighted-average shares outstanding of approximately 445 million for the fourth quarter of 2024 and 515 million for full year 2024. Adjusted EPS for the fourth quarter 2024 assumes that none of the Company’s outstanding exchangeable notes are dilutive and therefore are not included in diluted weighted-average shares outstanding and full year 2024 assumes that all four of the Company’s exchangeable notes are fully dilutive and therefore excludes approximately $62 million of interest expense, respectively, associated with the Company’s exchangeable notes. Q4 2024 assumes all three of the Company’s exchangeable notes are anti-dilutive and therefore are not included in diluted weighted-average shares outstanding and full year 2024 assumes all four of the Company’s exchangeable notes are dilutive and therefore are included in diluted weighted-average shares outstanding. Based on the Company’s September 30, 2024 outstanding variable rate debt balance, a one percentage point increase in annual SOFR interest
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.