Shares of Norwegian Cruise Line Holdings Ltd. NCLH, +6.99% slipped 0.7% in premarket trading Friday, after the cruise operator reported a narrower-than-expected second quarter loss but revenue that was a bit light and cash burn that topped guidance. Net losses came to $717.8 million, or $1.94 a share, after a loss of $715.2 million, or $2.99 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was $1.93, compared with the FactSet loss consensus of $1.97. Revenue fell 74% to $4.4 million, missing the FactSet consensus of $10.0 million, as passenger ticket revenue declined 89% to $1.58 million and onboard and other revenue fell 10% to $2.78 million. Monthly average cash burn for the second quarter was $200 million, above previous guidance of $190 million, as the company prepared for a return to service this summer. The company expects third-quarter monthly average cash burn of $285 million, given the continued phased relaunch of cruises. Norwegian Cruise’s stock has shed 13.1% over the past three months through Thursday, while the S&P 500 SPX, +0.60% has gained 5.4%.
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