Norwegian Cruise Line Slips To Loss In Q2

(RTTNews) - Norwegian Cruise Line Holdings Ltd. (NCLH) reported that its second-quarter GAAP net loss was $715.2 million or $2.99 per share compared to net income of $240.2 million or $1.11 per share in the prior year.

Adjusted net loss was $666.4 million or $2.78 per share in 2020, compared to adjusted net income of $282.1 million or $1.30 per share in the previous year. The latest-quarter result included $48.8 million of adjustments primarily consisting of expenses related to non-cash compensation and losses on extinguishment and modifications of debt.

Revenue decreased to $16.9 million compared to $1.7 billion in 2019 due to the complete suspension of voyages in the quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $2.26 per share and revenues of $25.48 million for the quarter. Analysts' estimates typically exclude special items.