[ACCESSWIRE]
Upcoming AWS Coverage on Wynn Resorts Post-Earnings Results
LONDON, UK / ACCESSWIRE / November 17, 2016 / Active Wall St. announces its post-earnings coverage on Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH). The company reported its financial results for Q3 fiscal 2016 on November 09, 2016. The company's revenue and profit climbed partly due to additions to its fleet. Moreover, Norwegian Cruise Line narrowed its adjusted earnings outlook amid currency headwinds. Register with us now for your free membership at: http://www.activewallst.com/register/.
One of Norwegian Cruise Line Holdings' competitors within the Resorts & Casinos space, Wynn Resorts, Ltd. (NASDAQ: WYNN), reported on November 03, 2016, financial results for the third quarter ended September 30, 2016. AWS will be initiating a research report on Wynn Resorts in the coming days.
Today, AWS is promoting its earnings coverage on NCLH; touching on WYNN. Get our free coverage by signing up to:
http://www.activewallst.com/registration-3/?symbol=NCLH
http://www.activewallst.com/registration-3/?symbol=WYNN
Earnings Reviewed
For the quarter ended September 30, 2016, Norwegian Cruise Line's net income was $342.4 million, or EPS of $1.50, compared to $251.8 million, or $1.09, in the prior year. The Company generated adjusted net income of $369.3 million, or adjusted EPS of $1.62, compared to $311.1 million, or $1.35, in the prior year, thus coming in at the top end of the company's guidance range of $1.57 to $1.62 and above analysts' expectations of $1.59 per share.
Revenue increased 15.6% to $1.48 billion compared to $1.3 billion in 2015, slightly below analysts' projections of $1.49 billion. The company's adjusted net revenue in the reported period increased 17.0% to $1.1 billion compared to $978.2 million in Q3 2015. The increase in revenue was primarily attributed to the addition of Norwegian Escape, Oceania Sirena, and Regent Seven Seas Explorer to the fleet. Gross yield increased 1.5% while adjusted net yield improved 3.4% on a constant currency basis and 2.8% on an as-reported basis primarily due to improved pricing.
Segment Results
During Q3 2016, Norwegian Cruise Line's gross cruise cost increased 10.5% compared to 2015 due to an increase in total cruise operating expense as a result of an increase in Capacity Days along with an increase in marketing expense. Gross cruise costs per Capacity Days decreased 3.0%. Adjusted net cruise cost excluding fuel per Capacity Days increased 1.7% in the reported quarter on both a constant currency and as-reported basis primarily due to an increase in marketing expenses.
For Q3 2016, Norwegian Cruise Line's fuel price per metric ton, net of hedges, decreased 11.5% to $500 from $565 in 2015. The Company reported fuel expense of $86.3 million in the period. Furthermore, a loss of $2.5 million was recorded in other expense in 2016 related to the ineffective portion of the Company's fuel hedge portfolio due to market volatility.
Outlook
For FY16, Norwegian Cruise Line is forecasting adjusted earnings in the range of $3.38 to $3.42 a share compared to its previous forecast of $3.35 to $3.45 a share given a quarter ago. For Q4 2016, the company is expecting adjusted earnings of $0.53 to $0.57 per share; analysts are expecting earnings of $0.57 per share.
Stock Performance
At the closing bell, on Wednesday, November 16, 2016, Norwegian Cruise Line's stock slipped 1.49%, ending the trading session at $39.57. A total volume of 1.25 million shares were traded at the end of the day. In the last month and previous three months, shares of the company have advanced 3.45% and 2.25%, respectively. Shares of the company have a PE ratio of 17.84.
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SOURCE: Active Wall Street