(Bloomberg) -- Norwegian Cruise Line Holdings Ltd. jumped after raising its outlook for a third time this year and just one month after its peers did the same, calming fears that cruise industry growth was slowing.
Shares surged as much as 5% in premarket trading, while fellow cruise operators Carnival Corp. and Royal Caribbean Cruises Ltd. both rose more than 1%.
Earnings, less some items, are now expected to be about $1.53 per share this year, the company said in a statement. Previously, its saw around $1.42, while analysts had forecast about the same.
“We expect our Adjusted EPS to grow approximately 120% compared to 2023, driven mainly by our ability to capitalize on the robust market demand,” Chief Executive Officer Harry Sommer said in the statement.
Norwegian’s improved outlook provides some respite to the industry following Royal Caribbean’s results last week, which suggested growth may be more difficult to come by going forward. Still, all three ocean cruise companies have now boosted their outlooks in little over a month as record setting cruise demand increases their optimism.
“We continue to see robust demand heading into the back half of the year and are committed to improving efficiencies,” Chief Financial Officer Mark Kempa added.
Norwegian’s shares were down 7.4% this year through yesterday’s close, in line with Carnival’s slide. Both trailed Royal Caribbean’s 21% gain.
©2024 Bloomberg L.P.
