Norwegian Cruise Line Holdings Files Q3 2024 10-Q
Ticker: NCLH · Form: 10-Q · Filed: 2024-11-07T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, cruise-line
TL;DR
NCLH filed their Q3 2024 10-Q. Financials are in.
AI Summary
Norwegian Cruise Line Holdings Ltd. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of 2024. Key financial data and operational details are provided in this filing, which is standard for public companies to disclose their performance and financial position.
Why It Matters
This filing provides investors with a detailed look at Norwegian Cruise Line's financial performance and operational status for the third quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are routine disclosures, but the financial details within can reveal significant risks or opportunities for the company.
Key Numbers
- 980000000 — Total Assets (As of September 30, 2024)
- 439702246 — Total Liabilities (As of September 30, 2024)
- 425546570 — Total Equity (As of September 30, 2024)
Key Players & Entities
- Norwegian Cruise Line Holdings Ltd. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241107 (date) — Filing date
- MIAMI (location) — Company headquarters city
- 305-436-4000 (phone_number) — Company business phone
FAQ
What were Norwegian Cruise Line Holdings' total assets as of September 30, 2024?
Total assets were $980,000,000 as of September 30, 2024.
What is the filing date of this 10-Q report?
The filing date is November 7, 2024.
What is the fiscal year end for Norwegian Cruise Line Holdings Ltd.?
The fiscal year ends on December 31.
What is the company's SIC code?
The Standard Industrial Classification code is 4400 for Water Transportation.
What were the total liabilities reported for the period ending September 30, 2024?
Total liabilities were $439,702,246 as of September 30, 2024.
Filing Stats: 4,362 words · 17 min read · ~15 pages · Grade level 13.7 · Accepted 2024-11-07 09:57:16
Key Financial Figures
- $0.001 — registered Ordinary shares, par value $0.001 per share NCLH The New York Stock E
Filing Documents
- nclh-20240930x10q.htm (10-Q) — 2121KB
- nclh-20240930xex31d1.htm (EX-31.1) — 13KB
- nclh-20240930xex31d2.htm (EX-31.2) — 13KB
- nclh-20240930xex32d1.htm (EX-32.1) — 8KB
- 0001558370-24-014784.txt ( ) — 9138KB
- nclh-20240930.xsd (EX-101.SCH) — 54KB
- nclh-20240930_cal.xml (EX-101.CAL) — 53KB
- nclh-20240930_def.xml (EX-101.DEF) — 286KB
- nclh-20240930_lab.xml (EX-101.LAB) — 388KB
- nclh-20240930_pre.xml (EX-101.PRE) — 371KB
- nclh-20240930x10q_htm.xml (XML) — 1894KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.
Controls and Procedures
Controls and Procedures 40
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 40 Item 1A.
Risk Factors
Risk Factors 40 Item 5. Other Information 41 Item 6. Exhibits 41
SIGNATURES
SIGNATURES 42 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Norwegian Cruise Line Holdings Ltd. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue Passenger ticket $ 1,944,921 $ 1,733,594 $ 5,006,811 $ 4,420,909 Onboard and other 861,657 802,443 2,363,474 2,142,559 Total revenue 2,806,578 2,536,037 7,370,285 6,563,468 Cruise operating expense Commissions, transportation and other 564,614 546,026 1,501,863 1,462,565 Onboard and other 211,753 188,694 515,496 470,271 Payroll and related 337,430 323,862 1,012,289 936,237 Fuel 164,934 170,893 537,632 530,003 Food 78,096 87,839 239,850 271,575 Other 182,112 165,432 573,987 476,123 Total cruise operating expense 1,538,939 1,482,746 4,381,117 4,146,774 Other operating expense Marketing, general and administrative 358,001 325,365 1,074,241 1,013,600 Depreciation and amortization 218,428 204,608 663,762 596,513 Total other operating expense 576,429 529,973 1,738,003 1,610,113 Operating income 691,210 523,318 1,251,165 806,581 Non-operating income (expense) Interest expense, net ( 175,216 ) ( 181,201 ) ( 571,865 ) ( 530,150 ) Other income (expense), net ( 34,146 ) 12,060 ( 14,113 ) ( 4,938 ) Total non-operating income (expense) ( 209,362 ) ( 169,141 ) ( 585,978 ) ( 535,088 ) Net income before income taxes 481,848 354,177 665,187 271,493 Income tax benefit (expense) ( 6,916 ) ( 8,309 ) ( 9,466 ) 1,170 Net income $ 474,932 $ 345,868 $ 655,721 $ 272,663 Weighted-average shares outstanding Basic 439,697,135 425,398,415 433,790,997 424,087,517 Diluted 514,878,919 511,585,445 514,002,031 460,819,375 Earnings per share Basic $ 1.08 $ 0.81 $ 1.51 $ 0.64 Diluted $ 0.95 $ 0.71 $ 1.
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements (Unaudited) Unless otherwise indicated or the context otherwise requires, references in this report to (i) the "Company," "we," "our" and "us" refer to NCLH (as defined below) and its subsidiaries, (ii) "NCLC" refers to NCL Corporation Ltd., (iii) "NCLH" refers to Norwegian Cruise Line Holdings Ltd., (iv) "Norwegian Cruise Line" or "Norwegian" refers to the Norwegian Cruise Line brand and its predecessors, (v) "Oceania Cruises" refers to the Oceania Cruises brand and (vi) "Regent" refers to the Regent Seven Seas Cruises brand. References to the "U.S." are to the United States of America, and "dollar(s)" or "$" are to U.S. dollars, the "U.K." are to the United Kingdom and "euro(s)" or "" are to the official currency of the Eurozone. We refer you to "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations— Terminology" for the capitalized terms used and not otherwise defined throughout these notes to consolidated financial statements. 1. Description of Business and Organization We are a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. As of September 30, 2024, we had 32 ships with approximately 66,400 Berths. The Company expects to add thirteen additional ships to our fleet from 2025 through 2036. We have four Prima Class Ships on order with currently scheduled delivery dates from 2025 through 2028. We have one Allura Class Ship on order for delivery in 2025. We also have orders for three new classes of ships: four Oceania Cruises ships with deliveries currently scheduled from 2027 through 2031, two Prestige Class Ships with deliveries currently scheduled in 2026 and 2029 and four Norwegian Cruise Line ships with deliveries currently scheduled from 2030 through 2036. The orders for two of the new class of Oceania Cruises ships currently scheduled for delivery in 2030 and 2031 are expected to be cancelled.