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Forty voyages impacted, NCLH currently projects 75-cent/share COVID-19 hit

NCL headquarters.jpg
Norwegian Cruise Line Holdings estimated a 75-cent per share impact to 2020 earnings as a result of coronavirus itinerary changes across its three brands.

For now, this is excluded from first quarter and 2020 guidance.

40 voyages

A total of 40 voyages have been canceled, modified or redeployed, including 24 on Norwegian Cruise Line, 10 on Oceania Cruises and six on Regent Seven Seas Cruises. Following these changes, the company will not have any vessels deployed in Asia through the end of the third quarter.

The 75-cent per share estimate is current known direct impact and includes customer incentive compensation. Of that, 25 cents of the impact is expected in Q1, according to EVP/CFO Mark Kempa.

Short booking window for Norwegian Spirit's replacement cruises

As previously reported, changes include the close-in cancellation of 21 canceled Asia voyages on Norwegian Spirit. The ship will be redeployed to the Eastern Mediterranean for summer 2020 with an extremely condensed booking window.

NCLH cautioned that due to the fluidity and uncertainty as to the duration and extent of the outbreak, it is too early to fully quantify impacts from broader headwinds to business resulting from decreased demand for travel and tourism globally. 

There could be a material impact if travel restrictions and COVID-19 concerns continue for an extended period of time.

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