Since 2019, Norwegian Cruise Line has reported its first profitable year.

• Since 2019, Norwegian Cruise Line Holdings has reported its first profitable year, with fourth-quarter losses decreasing significantly.
• The company anticipates an adjusted profit of approximately $635 million for the entire year 2024, which translates to $1.23 per share.
• Norwegian shares surged, along with shares of Royal Caribbean and Carnival.

Since 2019, the company has reported its first profitable year on Tuesday, with a significant reduction in fourth-quarter losses.

The cruise company experienced a surge in ticket demand and reported strong growth, with an optimistic 2024 forecast.

According to LSEG, formerly known as Refinitiv, Norwegian's performance in the fourth quarter did not meet expectations.

• Loss per share: 18 cents vs. 14 cents expected
• Revenue: $1.99 billion vs. $1.97 billion expected

In the last three months of 2023, Norwegian recorded a net loss of $106.5 million, a significant improvement from the $482.5 million loss in the previous year. The company's loss per share decreased to 25 cents from $1.14 in the prior year. After adjusting for one-time items, Norwegian reported a loss per share of 18 cents.

In 2022, Norwegian lost $2.27 billion, while the company generated total revenue of $8.55 billion, a 32% increase from 2019, with a net income of $166.2 million.

The company experienced 102.9% occupancy and a 17% increase in total revenue per passenger per day compared to pre-pandemic levels.

Despite strong demand for most of its cruises, the company canceled those traveling through the Middle East due to violence in Gaza. This resulted in a slight dip in occupancy in the fourth quarter to 99.2%.

In 2023, Norwegian Cruise Line Holding experienced significant growth and accomplishments, with CEO Harry Sommer stating that the company delivered three new ships, marking a record for the most deliveries in a single year in the company's 57-year history. This achievement highlights the company's commitment to innovation and providing exceptional vacation experiences for its guests.

The company reported record-high booking levels in the fourth quarter and full year because of strong consumer demand.

The company anticipates an adjusted profit of approximately $635 million in 2024, which translates to $1.23 per share, and an occupancy rate of roughly 105%. Analysts surveyed by LSEG had predicted 2024 earnings per share of $1.21.

Shares of other cruise companies, including and , also rose Tuesday morning.