The beleaguered cruise liner operator stated it could survive another 18 months of coronavirus-related sailing restrictions.
Shares of Norwegian Cruise Line Holdings( NYSE: NCLH) climbed nearly 5%on Thursday, following the release of the cruise company’s first-quarter outcomes.
With its ships stuck in port due to the coronavirus– associated cruising constraints, Norwegian generated a staggering bottom line of $1.88 billion, or $8.80 per share, in the very first quarter. Even after changing for a $1.6 billion problems charge, Norwegian’s adjusted net loss can be found in at $0.99 per share. That was far worse than the $0.28 loss Wall Street had actually expected.
Still, investors appear to be taking solace in Norwegian’s declaration that it’s “well-positioned to endure over 18 months of voyage suspensions” after raising cash through stock sales and financial obligation offerings.
” Our speedy actions to preserve money and protected extra liquidity in this unsure environment provide a strong structure to endure the functional and financial effect of COVID-19,” CFO Mark Kempa said in a press release.
Norwegian Cruise Line Holdings states it can stay afloat even if its ships can’t sail for another 18 months. Image source: Getty Images.
Norwegian said that individuals were scheduling cruises even more in advance, hoping that the COVID-19 crisis would eventually end. The company also said it was working to make its ships safe throughout the pandemic.
” Our guests continue to show their desire for cruise vacations, and we continue to experience need for voyages even more in the future throughout our three brand names,” CEO Frank Del Rio stated “ As we prepare to resume cruisings, we are working all the time along with U.S. and international public health companies and federal governments to establish and carry out the next level of enhanced cruise health and wellness requirements.”
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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Joe Tenebruso has no position in any of the stocks discussed.
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy