Third-quarter results from Norwegian Cruise Line Holdings suggest turnaround efforts are gaining traction, but analysts warn its work isn’t done yet.
The company on Thursday reported results above guidance thanks to stronger-than-expected close-in demand and onboard spend. Continued cost discipline and some expenses shifting into the fourth quarter also helped drive lower-than-expected unit costs.
The results follow a leadership shakeup at Norwegian, which activist investor Elliott Investment Management accused of falling behind rivals after “a decade of strategic misjudgments and poor execution.” The activist investor disclosed a stake of more than 10% in the company in February and quickly pushed for a board overhaul that brought in five new members.
CEO John Chidsey, the former Subway and Burger King chief who replaced Harry Sommer in February, has said the company’s performance lagged largely due to “self-inflicted” wounds, with a
Source: skift.com
