Norwegian Cruise Line (NYSE: NCLH) reported Q3 EPS of ($2.35), $0.11 worse than the analyst estimate of ($2.24). Revenue for the quarter came in at $6.52 million versus the consensus estimate of $10.61 million.

2020 Outlook

As a consequence of COVID-19, while the Company cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty, it will report a net loss on both a U.S. GAAP and adjusted basis for the fourth quarter and the year ending December 31, 2020.

As of September 30, 2020, the Company had hedged approximately 59%, 37% and 13% of its total projected metric tons of fuel consumption for 2021, 2022 and 2023, respectively. The following table provides amounts hedged and price per barrel of heavy fuel oil (“HFO”) which is hedged utilizing U.S. Gulf Coast 3% (“USGC”) and marine gas oil (“MGO”) which is hedged utilizing Gasoil.

Anticipated total capital expenditures for fourth quarter 2020 are approximately $150 million which includes additional health and safety investments. The Company is not providing capital expenditure guidance for future years at this time given the uncertain and evolving current environment. The impacts of COVID-19 on the shipyards where the Company’s ships are under construction, or will be constructed, have resulted in some minor delays in ship deliveries, and the impact of COVID-19 could result in additional delays in ship deliveries in the future, which may be prolonged.

For earnings history and earnings-related data on Norwegian Cruise Line (NCLH) click here.