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Companies / Norwegian Cruise Line Holdings / Filing

Norwegian Cruise Line Holdings — Oct 31, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-24-005927
Open on SEC.gov ↗
Showing in the filing
Blended HFO Hedge Price / Metric Ton
“$410”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
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
The following table provides amounts hedged and price per metric ton of heavy fuel oil (“HFO”) and marine gas oil (“MGO”).                           2024   2025   2026   % of HFO Consumption Hedged 1     40 %   46 %   20 % Blended HFO Hedge Price / Metric Ton   $ 397   $ 410   $ 373   % of MGO Consumption Hedged     62 %   54 %   22 % Blended MGO Hedge Price / Metric Ton   $ 743   $ 721   $ 667   Total % of Consumption Hedged     51 %   51 %   21 %                       Hedged derivatives include accounting hedges as well as economic hedges. Capital Expenditures Non-newbuild capital expenditures for the third quarter of 2024 were $140 million. Anticipated non-newbuild capital expenditures for full year 2024 are expected to be approximately $575 million including approximately $142 million in the fourth quarter. Newbuild-related capital expenditures, net of export credit financing, are expected to be approximately $0.3 billion, $0.8 billion and $0.9 billion for the full years ending December 31, 2024, 2025 and 2026, respectively. Net newbuild-related capital expenditures for the third quarter of 2024 were approximately $108 million and are expected to be approximately $59 million for the fourth quarter of 2024. Company Updates and Other Business Highlights: Fleet and Brand Updates Norwegian Cruise Line recently announced new brand positioning, unveiling the all-new ‘More At Sea' package. An upgrade over the previous ‘Free At Sea’ promotion, this new d
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.