Norwegian Cruise Line beats estimates and raises profit forecast.
Norwegian Cruise Line Holdings has raised its annual profit forecast and exceeded first-quarter estimates, citing higher ticket pricing, pent-up demand, and robust on-board spending from wealthy customers. The company has been raising prices to offset the impact of higher fuel and food costs due to supply chain snags worsened by the Russia-Ukraine crisis. The easing of COVID-19 protocols on ships has encouraged people, especially from the higher income group, to go on leisure travel while also boosting spending on various on-board facilities from casinos to spas.