Norwegian Cruise Line Hldg Ltd Stock Price, News & Analysis

Norwegian Cruise Line Holdings Ltd. (NCLH) announces the retirement of Frank J. Del Rio as President and CEO, effective June 30, 2023, after a distinguished 30-year career in the cruise industry. He will serve as a Senior Advisor until 2025. Harry J. Sommer, currently CEO of Norwegian Cruise Line, will take over as President and CEO on July 1, 2023. David J. Herrera, Chief Consumer Sales and Marketing Officer, is appointed President of Norwegian Cruise Line from April 1, 2023. Del Rio's leadership saw the introduction of eight new ships and significant industry milestones, including navigating the challenges posed by the COVID-19 pandemic.

Norwegian Cruise Line Holdings reported Q4 2022 results with total revenue of $1.5 billion and a GAAP net loss of $(482.5) million, equating to EPS of $(1.14). Adjusted net loss stood at $(439.7) million with an Adjusted EBITDA of $(41.4) million. Sequential occupancy improved to 87%, and positive cash flow of approximately $237 million was achieved. For 2023, the company forecasts an average occupancy of approximately 100% and expects Adjusted EBITDA between $1.8 to $1.95 billion. Booking momentum remains strong, with a 62% booked position for the year, reflecting increased demand and pricing. Total debt is reported at $13.6 billion.

Oceania Cruises announces the christening of its new ship, Vista, happening on May 8, 2023, in Valletta, Malta. Celebrated chef Giada De Laurentiis has been named the godmother of Vista and will officiate the ceremonial Champagne breaking. The event will feature an exclusive performance by musician Harry Connick Jr. De Laurentiis will also craft two signature dishes to be served on the ship. With its inaugural summer season in the Mediterranean already sold out, Vista is set to offer unique culinary experiences, including a new restaurant concept, Ember. This marks Oceania's first new ship launch in over a decade.

Norwegian Cruise Line Holdings (NCLH) announced its plans to report fourth quarter and full year 2022 financial results on February 28, 2023, at 7:00 a.m. ET, followed by a conference call at 10:00 a.m. ET. Shareholders are encouraged to participate in a Q&A session by submitting questions related to financial results and strategic priorities ahead of the call. The company operates multiple cruise brands with a combined fleet of 29 ships and has eight additional ships scheduled for delivery.

Oceania Cruises is introducing immersive travel experiences in Alaska for its 2023 season, focusing on local culture and cuisine. The Regatta will offer 14 departures from May to September, featuring over 250 excursions in ports like Ketchikan and Juneau. Unique offerings include the Go Local series, which connects travelers with local traditions. The company is celebrating its 20th anniversary with special promotions, including up to $800 shipboard credit. Oceania will also be the first cruise line to visit Klawock, enhancing its itinerary appeal.

NCL Corporation Ltd. has completed a private offering of $600 million in 8.375% senior secured notes due 2028. The proceeds will be used to settle term loans under its senior secured credit facility, which are due in January 2024, including accrued interest and related expenses. The notes are secured by first-priority interests in thirteen vessels and will be guaranteed by subsidiaries owning these vessels. This offering was limited to qualified institutional buyers and will not be registered under the Securities Act, meaning it cannot be sold in the U.S. without registration or an exemption.

Oceania Cruises has announced the introduction of Allura, the second vessel in the Allura Class, set to debut in 2025. This new ship, sister to Vista, will accommodate 1,200 guests and provide personalized service from a crew of 800. Allura will feature innovative dining options, including Ember, a signature restaurant. As demand for Vista has been strong, with her maiden season sold out, Allura is expected to attract similar interest. The ship is currently under construction in Italy, with details of its inaugural season to be revealed in spring 2023.

Oceania Cruises announces that its newly re-inspired Riviera will sail in Asia for the first time in the 2023-2024 season due to high demand. This 1,238-guest ship will offer 25 unique voyages, ranging from 10 to 82 days, showcasing captivating locations across Asia and the South Pacific. With nearly doubled seasonal availability, a total of 121 itineraries are now open for booking. The reimagined vessel features luxurious staterooms and upgraded public spaces, enhancing the onboard experience. Furthermore, Oceania Cruises reported record sales after a successful year in luxury cruising.

NCL Corporation Ltd., a subsidiary of Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), has priced $600 million of its 8.375% senior secured notes due 2028, increasing from a previous $500 million target. The offering, exempt from Securities Act registration, is set to close on February 2, 2023. Proceeds will be used to repay term loans due January 2024, covering accrued interest and associated costs. The notes will be secured by interests in thirteen vessels and guaranteed by subsidiaries owning these vessels. The offering targets qualified institutional buyers and non-U.S. investors only, with no public sale planned.