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Norwegian Cruise Line Holdings (NYSE:NCLH) stock sailed lower on Thursday after lower financial projections for the latter half of 2022.
“We expect Adjusted EBITDA to be nearly break-even for the six months ended December 31, 2022,” an SEC filing released prior to the market open on Thursday stated. “We expect to report a net loss for the quarter and full year ended December 31, 2022.”
The cruise operator had previously forecast a “significant financial inflection point” in the third quarter that would result in “slightly positive” adjusted EBITDA for the second half of the year.
The filings released on Thursday also disclose the sale of $500M in bonds due 2028 to continue paying down the cruise line’s debt.
“We intend to use the net proceeds from the Notes Offering to repay a portion of the term loans outstanding under our senior secured credit facility that will become due in January 2024, including to pay any accrued and unpaid interest thereon, as well as related premiums, fees and expenses,” the filing explained.
Shares of the Miami-based cruise operator slid 3.67% shortly before Thursday’s open.
Image and article originally from seekingalpha.com. Read the original article here.