Despite Its Falling 92%, Cathie Wood Is Buying More of This Growth Stock. Obviously, while there is a slight impact to load factor, the whole reason we're going to more longer premium itinerary intensive destinations is, number one, to get a better guest, to get higher pricing, and to maximize the value that we're getting out of each of our assets. Create your very own My Future Cruise Credit account for free, in only a few simple steps, Browse among thousands of sailings worldwide and get expert advice along the way, Claim an additional credit back to use to PAY LESS on any hotel, tour, resort, cruise or even wine of your choice, Learn how to redeem your future cruise credit & get a bonus with 4 simple steps. Future Cruise Credit Expiration Dates: Do I Need to Worry? Again, we had to rapidly exit Cuba in, I believe, June or July of 2019. Dan Politzer -- Wells Fargo Securities -- Analyst. Future Cruise Credits issued in, for example, June 2020 would have expired in July of 2021; for that reason, Norwegian Cruise Line had already extended the booked by date to January 31. Look, Steve, I think first and foremost, we have to look at the underlying fundamentals of the business. This represents a 15% decrease as compared to the average of $187 in the second half of 2022. Third, we are excited to deliver on our industry-leading growth profile, which we are confident we can profitably absorb, providing a meaningful boost to our future earnings power. So, you're spot-on there. The sail-by date had always been December 31, 2022, so it is only the effective date when guests must apply their credit that has been extended. Yeah, and, Robin, just to just to add to that, you know, we did try to communicate last quarter and over the course of many investor meetings that when we said historical occupancies, we didn't say that they were going to be exactly the same. The voucher can be used per person, with or. What happens to CruiseNext certificates that were used on a cancelled reservation? Ms. John, please proceed. Many times, in lieu of a direct cash refund, a cruise line will take the price of a refunded cruise and issue it as a kind of gift certificate to be used toward booking a new sailing. And our consumers are booking very far out in advance, which is a good thing. OK, great. Don't rely on the cruise line to keep track of your credit; bookmark, print or save the email with your future cruise credit information so you have everything you'll need -- or your agent needs -- when you're ready to rebook. We thank you for your continued loyalty to Norwegian Cruise Line. The full value of FCC will be credited back to the guest's Latitudes profile if cancellation is outside of standard penalties. And I think it's somewhere in the neighborhood of -- we have 3% more deployment in Q4 of Alaska and I believe 7% deployment -- more deployment in Europe for Q4. And we'll continue to optimize around that. And so, we're going to -- occupancy may not be coming in exactly what we thought, but it makes more sense to hold price for those or just trying to think about because I think the itineraries themselves didn't change since last reported. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. There is no opportunity for the export credit agencies to change those rates. I won a bid on the Norwegian Upgrade Advantage. But, overall, we believe that our air strategy is the right thing to do, given our strategic itinerary deployment. Onboard credit You can redeem any FCC by calling us! We bought two Cruise Next certificates because we figured we would be returning to NCL for future cruises. Can a guest make a new booking before they receive the FCC for their cancelled booking? Yes. Absolutely, however for Future Cruise Credits associated with these affected cruises, the Future Cruise Credit must be first generated and attached to your profile. Growing up to immigrant working class parents in the Bronx, I could never have dreamed to be at the helm of such a storied brand. I won a bid on the Norwegian Upgrade Advantage. Thousands of domestic & international car hire and both low-cost & scheduled flights. We've demonstrated that in our full year updated guidance, and we will continue to push hard on that. A good example of this is a recent announcement regarding the rollout of the Starlink low-latency broadband internet system in a phased manner across our fleet. And I can say that we are heartily within that range pretty much exactly where we want to be. Now, there are times when fate meets circumstances, and this happens to be one of those times, as my departure coincides not only with the 20th anniversary of the founding of Oceania Cruises, but also the delivery of the seventh ship in the Oceania fleet, the incomparable Vista, which you can see details about on Slide 6. Following up on the strategic shift to longer, more immersive itineraries, should we be thinking about any other financial ramifications of this shift other than the occupancy? Good morning, and welcome to the Norwegian Cruise Line Holdings first quarter 2023 earnings conference call. Image source: The Motley Fool. Also, I guess that would relate to the first quarter, but just trying to zoom in a little bit on the first quarter versus second quarter and the change there. One of the drivers of growth this year is going to be our robust newbuild platform with us taking delivery of three new, and I might be biased, but I'm going to add, absolutely magnificent ships this year, including the incredible Vista, which starts sailing tomorrow. What does My Future Cruise Credit not cover? Overall, we feel optimistic about the direction of our business, and we believe we are taking the right steps today create a more nimble and resilient organization for the future. Shifting our attention to the backdrop that makes me so optimistic for what lies ahead, Slide 7 outlines our current positioning and the key catalysts we see now and on the horizon. Please contact Sixthman directly. which gives us confidence that we can achieve this sequential improvement in year over-year-growth. By proceeding, you agree to Cruise Critics. I am also pleased to report that we expect to achieve another significant milestone in the quarter with adjusted EPS turning positive for the first time since the pandemic at approximately $0.25 per share. And we're very pleased with that. We are heading over to Europe this week where Vista will be christened in Malta by her godmother, Emmy Award-winning food personality, Giada de Laurentiis. Making the world smarter, happier, and richer. So, I'm going to kind of ask Dan's question maybe a little bit differently. COVID-19 canceled your cruise. Here's how you can use that money for a Pricing and yield are both expected to increase in the second half of the year, with the fourth quarter exhibiting the strongest growth versus 2019. Any Bonus FCC can not be used for add ons. Yeah, so, regarding our second half NPDs, you know, I think we labeled that on our slide. And we simply executed some of those initiatives quicker than we had anticipated. And whether or not we refinance that on a more holistic approach or we do another amend and extend, obviously, we'll look at what the markets are doing, what the environment looks like, but we'll do the most, obviously, the most economically feasible option out there. Sign up and register your future cruise credit details to get personalised service, cruise line updates and exclusive promotions. This is driven in part by our focus on attracting the best guests and enhancing our market-leading bundled offering. And congratulations to Frank and Harry, to both of you, with the changes. Since we last spoke, we also signed agreements to increase our ECA-backed commitments by approximately 1.7 billion euro. These are given to customers as a form of compensation for inconveniences caused by cancelled cruises or service issues on a previous cruise. This will be incredibly convenient for guests who had a cruise booked in 2020. I know that was a big part of the commentary last quarter just on the uncertain macro. The following is applied to the Future Cruise Credit when calculated: Cruise fare and taxes. And did I get that correct? Are any costs refunded instead of being included in the FCC? I have full confidence in the management team and their ability to take this company on to its next chapter. For guests to use their FCC, they will need to choose a cruise they like. This is Mark. So, but, you know, if you just took Q1 in isolation and you said, "OK, we beat the quarter by $0.15 and you look at the rest of the year, almost half of that is being eroded by fuel and FX headwinds. And then, the 1.4 billion of term loan and revolver. Booksafe Travel Protection will be issued as a separate additional Future Cruise Credit worth the value of the travel protection plan paid. Future Cruise Credits often have expiration dates, and they may also have specific guidelines for how they can be used. Or is that spread out over different years? And, hopefully, over the next few quarters, we can continue to prove that and further build confidence that we're leveraging our scale to the best of our ability. If you have booked any shore excursions, beverage packages, or other pre-cruise purchases, you will receive a refund to the original form of payment. And then, my other question is just on the 1.7 billion in additional ECA financing. Net per diem increased approximately 7.7%, achieving the high end of guidance, while net yield of 3.6% was a healthy beat versus our expectations, as low factor of 101.5% came in well ahead of projections. Why book your Future Cruise Credit with us? And I think that's why when you look at our capital commitments on our newbuilds for the next three years, it's actually decreased overall in terms of cash out of the system. Policies for bookings made through Tour Operators or Wholesalers may vary, so please contact your Travel Partner for full details. You know, both Q2 pricing and yields are exactly in line with where we thought they were going to be. Hey, good morning, everybody. Before we get to the questions on the line, we first want to address a top question from our online shareholder Q&A platform, which provides all of our investors another avenue to submit and upvote questions for management. And we had to sell those voyages close in for, you know, very efficient pricing. Please proceed with your questions. Pricing for the same itinerary, similar dates, and Getaway instead of Escape are. I assure you it is exactly where we expect it to be. By Refunds -- Which Should I Choose? Our next question is from Robin Farley with UBS. Flights are considered an add-on to the main cruise fare so, your Future Cruise Credit would not cover the cost of the flight, however, here at my Future Cruise Credit, we can help you use your Future Cruise Credit towards a cruise inclusive of the promotional add-ons you had with your original cruise. The last catalyst to highlight is our industry-leading newbuild pipeline shown on Slide 9, which Frank already touched on briefly. And we'll continue to leave no stone unturned. Register your Future Cruise Credit, find your favourite sailing, then speak to an expert for a personal consultation on planning and booking, and let us make your cruise dreams a reality, completely stress free! Which guests on the bookings receive the Future Cruise Credit? Applicability to convert an existing FCC to a monetary refund request may be submitted for one of the following reasons: Any guest affected by one of the above, wishing to request a monetary refund (of their original cruise fare paid and in lieu of their active FCC, including bonus amounts) must submit a refund request via the Guest Relations Case Submission page at https://www.ncl.com/case-submission.