Norway Cruise stocks hit new all-time highs on Tuesday, with the Norwegian Cruise line posting a profit of almost $20 million on revenue of $6.9 billion in the second quarter.
Norway Cruise, which operates the award-winning Norwegian Princess Cruises, Princess Cruising and Norwegian Star line of cruise ships, posted a profit before tax of nearly $6 billion on revenues of $4.5 billion in its second quarter ended March 31.
The Norwegian Star Line, which offers Norwegian Princess and Norwegian Princess Princess Cruisers, posted profits of $2.9 million on revenues between $2 million and $5 million.
The Princess Cruise line’s profits were the largest for Norwegian Cruise since 2009.
Norwegian Cruise also posted a net profit of $8.2 million on $7.9-billion in revenues, an improvement over its net profit in the third quarter of last year.
The company reported net profit before taxes of $1.2 billion on $3.6-billion revenue, which was up from net profit $2 billion in 2013.
Norway Cruise also reported earnings per share of $0.07 per share, up from $0,06 per share in the same quarter last year, and a profit per share increase of 10% over last year’s third quarter.
Norwegian Cruise also beat analyst estimates of $3 per share for the quarter.
The Norwegian Starliner line, which also operates Norwegian Princess, Princess and Princess Cruissises, posted net profit per passenger on $2-billion of revenue between $1 million and 5 million passengers, up 27% from a loss per passenger of $160,000 in the previous quarter.
The ship was also profitable on $1 billion in revenues and net profit for the third year in a row.
The Norwegians Princess Princess line, Norway Star Line and Princess Royal line, are all listed on the New York Stock Exchange under the trade name of NorweGroupe Cruises.
The new stock price per share is set to rise as investors begin to think about the future of the Norwegian Starline line of ships and Norwegian Cruise.