Norwegian Cruise Line's stock fell as high costs and debt weigh on the company even as travel demand has stayed strong.
Norwegian Cruise Line's stock fell over 10% after posting weaker-than-expected guidance for the year.Norwegian expects its struggled with high debt loads and costs to continue in the first half.A view of the Norwegian Encore cruise ship during its inaugural sailing from PortMiami, which took place from Nov. 21-24, 2019.shares fell more than 10% on Tuesday after the company posted wider losses than expected and offered soft guidance for the year, despite persistent travel demand.
Norwegian is also projecting full-year earnings per share of 70 cents in 2023, well below expectations of $1.04. The guidance comes as the company struggles to reduce the costs and debt weighing down the business. Norwegian had $13.6 billionAs Norwegian tries to climb back to profitability, it didn't offer much confidence for the first half of 2023.
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