Norwegian Cruise Line Holdings Ltd. on Aug. 8 lowered its adjusted EPS outlook for fiscal 2019 despite reporting positive second-quarter results.
The Florida-based cruise operator now expects adjusted EPS for the full year to range between $5.00 and $5.10, down from the previous guidance of $5.40 to $5.50 issued in May. The revised guidance includes an adverse impact of 45 cents from the abrupt change in federal regulations surrounding cruises to Cuba and an impact of 7 cents from a technical issue on Norwegian Pearl in July.
"Without these headwinds, the company's outlook would have exceeded its May guidance primarily as a result of revenue outperformance in the second quarter, coupled with a stronger revenue outlook for the back half of the year," Norwegian Cruise said in the release.
For the quarter ended June 30, the company's adjusted EPS rose to $1.30 from $1.21 the year prior, beating the S&P Global Market Intelligence normalized EPS estimate of $1.27.
Adjusted net income came in at $282.1 million, up from $271.9 million in the year-ago period.
Total revenue for the quarter reached $1.66 billion, higher than last year's $1.52 billion, due to strong demand for the company's global brands.