Shares of Norwegian Cruise Line Holdings Ltd. NCLH, +9.26% surged 1.8% toward a near one-year high in premarket trading Thursday, after the cruise operator reported a fourth straight wider-than-expected quarterly loss, but revenue that beat expectations but said bookings have been “strong” for future periods. The company swung to a net loss of $758.9 million, or $2.51 a share, from net income of $121.3 million, or 56 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was $2.33, wider than the FactSet loss consensus of $2.17. Revenue plunged 99.4% to $9.6 million, from $1.48 billion, but was more than triple the FactSet consensus of $2.6 million. The company’s cruises remain suspended through May 31 as a result of the COVID-19 pandemic. The monthly average cash burn was $190 million, and expects first-quarter average monthly cash burn to remain elevated around $190 million. “We are seeking to minimize cash burn and maximize financial flexibility in the near-term while balancing preparations for the future resumption of cruising,” said Chief Financial Officer Mark Kempa. The stock has soared 34.8% over the past three months through Wednesday, while the S&P 500 SPX, +1.14% has gained 8.2%.
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