Norwegian Cruise (NYSE:NCLH) stock is sinking on Tuesday as investors react to the company’s earnings report for the second quarter of 2022.
In its earnings report, Norwegian Cruise posted an adjusted earnings per share (EPS) loss of $1.14. That’s wider than the -86 cents per share Wall Street had estimated for Q2. However, it is still an improvement over the $1.93 loss reported in Q2 2021.
Another negative for NCLH stock comes in the form of its $1.2 billion in revenue for Q2. That’s worse than the $1.26 billion analysts had expected, even if it’s better than the $4.4 million the cruise line saw in 2021.
Norwegian Cruise said the following about its outlook in the Q2 earnings report:
“As a result of the COVID-19 pandemic, the effects of the Russia-Ukraine conflict and current macroeconomic conditions, while the Company cannot estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty, it will report a net loss for the third quarter of 2022.”
Norwegian’s poor earnings report has NCLH stock seeing a decent amount of trading today. As of this writing, nearly 20 million shares have changed hands. That’s quickly approaching the daily average trading volume of about 22.2 million shares.
NCLH stock is down 12% as of Tuesday morning and down more than 40% year-to-date (YTD).
Investors searching for more recent stock market news are in luck!
InvestorPlace has investors covered with all of the latest stock news for Tuesday! This includes what has shares of Tuesday Morning (NASDAQ:TUEM), Clover Health (NASDAQ:CLOV) and Verona Pharma (NASDAQ:VRNA) stock on the move. You can catch up on all of that at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.