by Sarah Kuta
Last updated: 11:05 AM ET, Tue February 27, 2024
Last year was Norwegian Cruise Line Holdings’ first profitable year since 2019, according to the company’s latest update to investors. Shares rose by 10 percent in response to the news on Tuesday.
The cruise company—which owns Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises—finished out the end of 2023 strong, with a net loss of $106.5 million in the last three months of the year, down from a net loss of $482.5 million during the same period in 2022. The loss per share also declined to $0.25, compared to $1.14 in 2022.
For all of 2023, Norwegian reported $8.55 billion in total revenue, which represents a 32 percent increase from 2019. Last year’s occupancy was 102.9 percent, while total revenue per passenger per day increased 17% from 2019.
“Norwegian Cruise Line Holding experienced a momentous year of growth and achievement in 2023,” said Harry Sommer, the company’s CEO, in the statement. “We successfully took delivery of three new ships, one for each of our brands, representing the most deliveries in a single year in our company’s 57-year history. This important milestone showcases our dedication to innovation and commitment to providing exceptional vacation experiences for our guests.”
Heading into 2024, the company started the year at an all-time high booked position and pricing for 2024 voyages.
“We have continued to see exceptional demand for our Norwegian Cruise Line brand, with bookings and pricing at higher levels than 2023 for all four quarters of 2024,” according to the company’s update. “Oceania Cruises and Regent Seven Seas Cruises also continue to see strong demand across all geographies with the exception of redeployed itineraries due to cancellations in the Middle East and Red Sea.”
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