(Reuters) - Norwegian Cruise Line (NYSE:NCLH ) Holdings on Thursday raised its annual profit forecast for a fourth time this year, encouraged by record third-quarter revenue and advance ticket sales.
Cruise operators marked robust demand this quarter for their vacation experiences as consumer spending in the U.S. increased at its fastest pace in 1-1/2 years and inflation slowed sharply.
Norwegian Cruise's quarterly revenue increased 11% year-over-year to a record $2.81 billion.
The Oceania Cruises operator said its advance ticket sales balance ended the third quarter at $3.3 billion, a quarterly record high and about 6% higher than the same period in 2023.
It now expects an adjusted profit of $1.65 per share for fiscal 2024, compared with its previous forecast of $1.53.
"Fueled by robust demand ... we're raising our full-year guidance for a fourth time and expect 2024 to be our best year for revenue," said CEO Harry Sommer.
Shares of the company, which have gained 19% this year, were up nearly 2% in premarket trading.
The company also raised its 2024 revenue-per-cruise-day forecast to about 9.4%, from its prior outlook of 8.2%, driven by demand across all three brands and itineraries in the second half of the year.
Rival Royal Caribbean (NYSE:RCL ) also lifted its annual profit forecast on Tuesday for the fourth time this year, benefiting from robust demand.
Source: Investing.com