Norwegian Cruise Line (NYSE:NCLH) shares are trading around 2% higher Monday premarket after the company topped Q1 earnings estimates and raised its full-year profit forecast.
The cruise line company reported a Q1 adjusted loss per share of $0.30, $0.12 better than the analyst estimate of a loss of $0.42 per share. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.74B.
In addition, NCLH said its total revenue per Passenger Cruise Day increased by approximately 17.5%.
The easing of COVID-19 restrictions and protocols has boosted demand for cruises, with consumers also spending money on the many on-board activities offered.
NCLH also stated that the cumulative booked position for the remainder of 2023 "continues to be at record levels and at higher pricing."
As a result of the positive trading period, NCLH now sees full-year 2023 adjusted EPS at $0.75, above the previously forecast $0.70.