OneSpaWorld Holdings Ltd. (OSW) Reports In-Line Q1 EPS, Revenues Miss; Offers Q2 & FY19 EPS/Revenue Outlook

OneSpaWorld Holdings Ltd. (NASDAQ: OSW) reported Q1 EPS of $0.14, in-line with the analyst estimate of $0.14. Revenue for the quarter came in at $137 million versus the consensus estimate of $143.34 million.

• Total revenues increased 7% to $137 million compared to first quarter of fiscal 2018
• Net loss of $(48.1) million, including $57.1 million of expenses primarily related to the Business Combination, compared to net income of $2.9 million in first quarter of fiscal 2018
• Adjusted net income grew 29% to $9.0 million, or $0.14 per diluted share, compared to first quarter of fiscal 2018
• Adjusted EBITDA increased 10% to $15.3 million compared to first quarter of fiscal 2018
• Re-entered the public market through a business combination with Haymaker
• Announced extension of current agreement with NCL LTD. through 2024
• Announced agreement to become exclusive spa provider on all NCLH ships beginning in Jan. 2020

Leonard Fluxman, Executive Chairman of OneSpaWorld commented, “The first quarter marked an exciting period for our Company as we re-entered the public markets as a pure-play in health and wellness with our strategy delivering record revenue for OneSpaWorld. In recognition of our capabilities as the pre-eminent global provider of health and wellness products and services, two new agreements, one with Virgin Voyages and the second an extension of an existing agreement with Norwegian Cruise Lines, were announced. We are pleased with our performance and expect to continue our favorable momentum in the near and longer term.”

GUIDANCE:

OneSpaWorld Holdings Ltd. sees Q2 2019 EPS of $0.11-$0.13, versus the consensus of $0.14. OneSpaWorld Holdings Ltd. sees Q2 2019 revenue of $137-142 million, versus the consensus of $145.05 million.

OneSpaWorld Holdings Ltd. sees FY2019 EPS of $0.49-$0.54, versus the consensus of $0.52. OneSpaWorld Holdings Ltd. sees FY2019 revenue of $570-575 million, versus the consensus of $574.04 million.

For earnings history and earnings-related data on OneSpaWorld Holdings Ltd. (OSW) click here.

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