: Norwegian Cruise stock drops after wider-than-expected loss, revenue miss #FinanceUSA #StockMarketNEWS Shares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after
@stockMarketNEWS Thu 06 May, 2021
Norwegian Cruise stock drops after wider-than-expected loss, revenue miss #FinanceUSA #StockMarketNEWS
Shares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after the cruise operator reported a wider-than-expected first-quarter loss and revenue that fell more than forecast, while cash burn was in line with forecasts and said it was preparing to return to service this summer. The net loss narrowed to .37 billion, or .16 a share, from .88 billion, or .80 a share, in the year-ago period. Excluding nonrecurring items, per-share losses widened to .03 from 99 cents, compared with the FactSet loss consensus of .02. Revenue plunged 99.8% to .1 million, below the FactSet consensus of .2 million. Monthly average cash burn was in line with the company's guidance of 0 million, and Norwegian expects second-quarter cash burn to average 0 million a month. The company said 2022 booking trends "are very positive driven by strong pent up demand," with the booked position for the first half of 2022 "meaningfully ahead" of the pre-pandemic 2019's record levels. "As for the resumption of cruises from the U.S., we continue to engage in dialogue with the U.S. Centers for Disease Control and Prevention," said Chief Executive Frank Del Rio. "Our team is working through the recently issued and modified technical guidance for which additional clarification is needed on how the incorporation of vaccine requirements impacts the Conditional Sail Order and our path forward." The stock has rallied 20.8% over the past three months through Wednesday while the S&P 500 has gained 7.2%.