Time for NCLH financial-related posts?

[Travelcat2]

22 minutes ago, Pcardad said:

 

I think that went to your consortium only....

 

The email I received had nothing whatsoever to do with the webinar or advertising.  Do you ever feel that when you share information that you and Regent both get snarky remarks (you don't have to answer that).  I admire you for sharing what you are able to share but, for now, I'll keep what I learn to myself.

[Bellaggio Cruisers]

Jackie... I don’t think I received this letter. 
Greykitten and Pappy... Jackie and I have sailed many years on Regent. We really don’t know what the future brings. Neither do you.
We are forever the optimists about cruising and Regent.

Pappy, I think you have only one sailing experience, if that. And, you have complained ever since. 
Greykitten, you have never sailed on Regent.

It’s amazing that both of you constantly have more to say than the rest of us who think of Regent as our second home. You are either very bored or very pessimistic. 
Herb and I have five Regent cruises booked for the future. Please do not worry about our money and I will keep my nose out of yours. 
During the stressful time in which we live, let’s try to hold each other and pray for a quick  end to this plague. 
sheila

[Pcardad]

9 minutes ago, Travelcat2 said:

 

The email I received had nothing whatsoever to do with the webinar or advertising.  Do you ever feel that when you share information that you and Regent both get snarky remarks (you don't have to answer that).  I admire you for sharing what you are able to share but, for now, I'll keep what I learn to myself.

 

I didn't get the email. I simply searched for the keywords and Google did the rest. The webinar/email seems ot be for Signature Travel Network TA's.

 

And I have absolutely no idea what you are talking about.

[cruiseluv]

1 hour ago, Travelcat2 said:

 

If the letter was only meant for Regent customers, it is not my place to share it.  

 

As you can see , many Regent customers here didnt get the letter, but thats fine if you dont want to share it. Frankly, if their main message was "We're not going anywhere", its a totally self serving message and in my opinion carries no weight given the mega uncertainties the industry is affected by.

[Pcardad]

The info has been plastered all over the internet and is not proprietary nor secret. I asked. 

[Travelcat2]

6 minutes ago, Pcardad said:

The info has been plastered all over the internet and is not proprietary nor secret. I asked. 

 

Sorry if I am confusing the situation.  I was not aware of how many communications have been sent out from Regent.  Actually, I misspoke earlier about the letter.  The person that wrote it said that they were not going anywhere.  While I understand that the email was not proprietary, as long as I receive criticism (and Regent receives criticism) for anything that I post, it is best to keep it to myself and let someone else post it.  As the old saying goes, "no good deed goes unpunished".  It took me a long time to learn that.  I enjoyed sharing information that I learned on CC and a lot of posters appreciated the information (as I appreciate their information).  

 

You are right about the webinar and I am signed up for it as my TA is part of the consortium you mentioned.  

[CruisetheCs]

5 minutes ago, Bellaggio Cruisers said:

Jackie... I don’t think I received this letter. 
Greykitten and Pappy... Jackie and I have sailed many years on Regent. We really don’t know what the future brings. Neither do you.
We are forever the optimists about cruising and Regent.

Pappy, I think you have only one sailing experience, if that. And, you have complained ever since. 
Greykitten, you have never sailed on Regent.

It’s amazing that both of you constantly have more to say than the rest of us who think of Regent as our second home. You are either very bored or very pessimistic. 
Herb and I have five Regent cruises booked for the future. Please do not worry about our money and I will keep my nose out of yours. 
During the stressful time in which we live, let’s try to hold each other and pray for a quick  end to this plague. 
sheila

 

After criticizing various posters this post goes on to say "let's try to hold each other."  Maybe meant to say "chokehold" each other?  

 

I don't get the repetitive generic criticism of posters because they have not yet sailed on Regent.  If there is something specific in a post that you disagree with, then why not address it?  For example, what post was it that indicated that someone was worried about your money? I must have missed that one.  

I've sailed many times on Regent and I appreciate the perspectives/questions/posts of those new to Regent.  

[Travelcat2]

8 minutes ago, CruisetheCs said:

 

After criticizing various posters this post goes on to say "let's try to hold each other."  Maybe meant to say "chokehold" each other?  

 

I don't get the repetitive generic criticism of posters because they have not yet sailed on Regent.  If there is something specific in a post that you disagree with, then why not address it?  For example, what post was it that indicated that someone was worried about your money? I must have missed that one.  

I've sailed many times on Regent and I appreciate the perspectives/questions/posts of those new to Regent.  

 

There have been many posts that warn against FCC's because Regent is holding your money and they may go out of business.  Have to agree that whether we decide to ask for a refund or FCC's, it is our decision and our business.  We share so that others may benefit from hearing why we made the choice that we did.

 

In terms of poster criticism, it works both ways.  I did address statements that were made by posters that were not aware of what could or could not work on Regent ships since they were not familiar with the ships.  This did not work out well.  

[RJ2002]

6 minutes ago, Travelcat2 said:

There have been many posts that warn against FCC's because Regent is holding your money and they may go out of business.  Have to agree that whether we decide to ask for a refund or FCC's, it is our decision and our business.  We share so that others may benefit from hearing why we made the choice that we did.

 

Well stated, and I've almost posted something similar in the past.  It is really a matter of personal preference on taking a refund or the FCC.  And of course, it might be helpful to others when someone talks about their reasoning - one way or the other.

[Bellaggio Cruisers]

24 minutes ago, CruisetheCs said:

 

After criticizing various posters this post goes on to say "let's try to hold each other."  Maybe meant to say "chokehold" each other?  

 

I don't get the repetitive generic criticism of posters because they have not yet sailed on Regent.  If there is something specific in a post that you disagree with, then why not address it?  For example, what post was it that indicated that someone was worried about your money? I must have missed that one.  

I've sailed many times on Regent and I appreciate the perspectives/questions/posts of those new to Regent.  

Please do not put words in my mouth. You were quite nasty. I was clear. I meant “hold each other”. I care about people. 
Perhaps, you would like to “chokehold” someone. Then speak for yourself. And, read my posts clearly before you comment again. 

[lincslady]

1 hour ago, Pcardad said:

 

I think that went to your consortium only....

 

Do I gather from this remark that TC2 and maybe others are actually  travel agents, or maybe organisers for Virtuoso Voyagers or similar?  It is important for regular punters' to know.  IMO.

[greykitty]

I think @pcardad meant the original invite went to certain travel agency groups, including the one who works with TC2, and then were forwarded to their clients.  @pcardad, please correct me if I'm wrong.

 

 

[Travelcat2]

1 minute ago, lincslady said:

 

Do I gather from this remark that TC2 and maybe others are actually  travel agents, or maybe organisers for Virtuoso Voyagers or similar?  It is important for regular punters' to know.  IMO.

 

While there are TA's on CC, they are not here organizing anything.  People whose TA's belong to one consortium are taking part in a webinar next week.  I believe that this was only brought up because of my comment about having received an email from Regent.  

[Pcardad]

There is an open invitation to attend posted by a few TA's in the FB groups....

 

[CruisetheCs]

2 minutes ago, Bellaggio Cruisers said:

Please do not put words in my mouth. You were quite nasty. I was clear. I meant “hold each other”. I care about people. 
Perhaps, you would like to “chokehold” someone. Then speak for yourself. And, read my posts clearly before you comment again. 

 

Your post may be clear to you, but it seemed contradictory to me. Criticisms of posters followed by a statement about holding each other.  If you feel those concepts are not contradictory, then so be it.

 

 I do not understand why posters who are new to Regent are so often criticized for posting on these boards. I've felt for a long time CC should  have a rule book that says which criticisms (or whose criticisms) are okay and which or whose criticisms are not okay. 

 

[pappy1022]

2 hours ago, Bellaggio Cruisers said:

Jackie... I don’t think I received this letter. 
Greykitten and Pappy... Jackie and I have sailed many years on Regent. We really don’t know what the future brings. Neither do you.
We are forever the optimists about cruising and Regent.

Pappy, I think you have only one sailing experience, if that. And, you have complained ever since. 
Greykitten, you have never sailed on Regent.

It’s amazing that both of you constantly have more to say than the rest of us who think of Regent as our second home. You are either very bored or very pessimistic. 
Herb and I have five Regent cruises booked for the future. Please do not worry about our money and I will keep my nose out of yours. 
During the stressful time in which we live, let’s try to hold each other and pray for a quick  end to this plague. 
sheila

Good for you. I mean that sincerely. Cruising is not as important to me as it is to you but that’s OK. I had 2 cruises booked on Regent this year that I regretfully had to cancel. You are right, I am not very optimistic of cruising resuming anytime soon. Am I right, who knows. That doesn’t make my opinions wrong or any less equal to every one else’s opinions. If I were espousing opinions as facts, as some like to do, then I am due strong criticism. I too am praying every day that we see the end of COVID-19, not to resume cruising, but for people all over the world to stop suffering. Do some comments on this board make me shake my head and wonder, “what were you thinking”, sure just like my comments bother some people more than others.

[Bellaggio Cruisers]

46 minutes ago, CruisetheCs said:

 

Your post may be clear to you, but it seemed contradictory to me. Criticisms of posters followed by a statement about holding each other.  If you feel those concepts are not contradictory, then so be it.

 

 I do not understand why posters who are new to Regent are so often criticized for posting on these boards. I've felt for a long time CC should  have a rule book that says which criticisms (or whose criticisms) are okay and which or whose criticisms are not okay. 

 

Perhaps your criticisms are not ok......😥

[howiefrommd]

On 7/17/2020 at 5:05 PM, Pcardad said:

 

I know that Allianz is covering my bookings in the event of BK....So it is possible. You should speak to your TA or call them Allianz directly.

Have finally heard back.  Spoke with TA and Allianz, and unfortunately since I took a FCC it appears that I would be out of luck in case there is any type of bankruptcy (Chapter 7, 11 or 13). In speaking with one of the Attorneys in the office, (who is far from an expert on contract law) thinks that I could not have a successful claim against my credit card (which provides a $ 20,000 per event insurance).  

[mrlevin]

Does the market know cancellations are coming?  Stock down 6% today.  In addition, rumor on NCL boards is that there will be additional announcement(s) when cancellation is announced.

[JMARINER]

Yahoo Finance

Norwegian Cruise Line (NCLH) Stock Isn’t Worth the Risk:

 

As the cruise line sector hoped to get good news on restarting cruises in the U.S., Norwegian Cruise Line Holdings (NCLH) shareholders got hit with a double whammy. Not only did the Center for Disease Control and Prevention delay vessels sailing from U.S. waters, but also the company diluted shareholders again via another equity offering.

The cruise lines aren’t investable with no ability to plan cruises in large parts of their markets. With the additional risk of a virus infection on one of the initial cruises setting the restart plans back possibly months and until a vaccine exists, Norwegian isn’t worth the risk.

No-Sail Order

On July 16, the CDC extended a no-sail order until the end of September. The health organization had an order on file until July 24, but Carnival Corporation had already given the market an indication that the CDC wasn’t even working on a return to approving cruises.

The Cruise Lines International Association had already agreed to suspend trips until September 15. My view was that this decision only served to give the CDC cover to continue suspending cruises with no risk to a health organization not trying to run a business.

Norwegian had previously suspended cruises until September 30 with an exception with Seattle-based Alaska voyages. The new no-sail order by the CDC makes restarting cruises in October nearly impossible considering the unknown timetable for actual approval considering the health organization could easily extend the suspension date.   

More Equity Dilution

While shareholders were looking forward to positive news from the CDC on a restart plan, Norwegian rushed out a secondary equity offering of 16.7 million shares. With the over-allotment amount of 2.5 million, the company sold a total of 19.2 million shares at $15 raising ~$288 million to fund ongoing monthly cash burn rates.

The cruise line has a market cap of $4 billion making this deal ~7% dilutive to shareholders. In addition, Norwegian raised $750 million in senior secure notes and $400 million in exchangeable senior notes.

These fund raisings come after a big $2.4 billion raised during the original shutdown and another $400 million recent in a private deal. The company had estimated ongoing monthly cash burn rates in the $140 million range.

The cruise line is set to burn some $350 million in cash between now and the updated CDC no-sail date. Any additional delays such as pushing the restart date into 2021 would cost the cruise line another $420 million of cash burn to just wait on the sidelines.

Takeaway

The key investor takeaway is that cruise lines just aren’t investable with an unknown restart date in the key U.S. market. Norwegian Cruise Line continues to raise billions in capital to survive the suspension of cruises.

Investors should wait until a viable restart plan exists and the company’s financials can be accurately analyzed. The cruise line is now flush with cash to survive this shutdown for well over a year, but the stock has already doubled off the lows. This risk here is for a retest of those lows as the market faces the extended suspension of operations.

Unsurprisingly, investor sentiment is very negative, with individual portfolios in the TipRanks database showing a net pullback from NCLH.

 

Disclosure: No position.

Edited July 27, 2020 by JMARINER
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[greykitty]

Next earnings report anticipated for August 13.

https://www.zacks.com/stock/news/1024311/norwegian-cruise-line-nclh-gains-but-lags-market-what-you-should-know

 

Nasdaq analysis of 'interesting put & call option'  I don't mess with these  at my stage of life, but they can still be interesting to track.

 

https://www.nasdaq.com/articles/interesting-nclh-put-and-call-options-for-september-11th-2020-07-30

 

 

[greykitty]

Date change for earnings release and call - bolding added

 

....report second quarter 2020 financial results on Thursday, August 6, 2020 at 7:00 a.m. Eastern Time with a conference call to discuss results at 10:00 a.m. Eastern Time. The conference call will be simultaneously webcast via the Company's Investor Relations website, www.nclhltdinvestor.com. A replay of the webcast will be available at the same site for 30 days following the call.

About Norwegian Cruise Line Holdings Ltd.

 

https://www.marketwatch.com/press-release/norwegian-cruise-line-holdings-to-hold-conference-call-on-second-quarter-2020-financial-results-2020-07-30

[mrlevin]

Norwegian Cruise Line posts bigger-than-expected loss on pandemic hit

BY Reuters
— 7:45 AM ET 08/06/2020

 

Aug 6 (Reuters) - Norwegian Cruise Line Holdings Ltd ( NCLH ) reported a bigger-than-expected quarterly loss on Thursday as travel curbs and no-sail orders due to the COVID-19 pandemic brought the industry to a grinding halt.  The health crisis has ravaged the business of Norwegian, Carnival Corp ( CCL) and Royal Caribbean, which together account for a big chunk of the global cruise industry's revenues.  They have had to draw down credit lines, raise billions of dollars through stock and bond offerings and even pledge ships and private islands to stay operational.

Norwegian said on Thursday its total debt position as of June 30 was $10.3 billion and it had cash and cash equivalents of $2.3 billion. It expects an average monthly cash burn of about $160 million, which was at the high end of its estimate.

Recently, the cruise companies have signaled a return in demand in 2021, but doubts persisted as U.S. operators agreed to suspend voyages till at least Oct. 31.

Norwegian said booking volumes were still below historical levels and that it had $1.2 billion of advanced ticket sales as of the end of the quarter.

In the second quarter, Norwegian also reported a staggering 99% slump in quarterly revenue to $16.9 million, missing expectations of $25.5 million, according to Refinitiv IBES data.

The company reported a net loss of $715.2 million compared with a profit of $240.2 million, or $1.11 per share, a year earlier.

Excluding items, it lost $2.78 per share, bigger than expectations of $2.26 per share.

Shares of the company, that have lost three quarters of its value so far this year, were down 3% in premarket trading.

 

edited to add:  Here is the Form 8-K filing:  http://archive.fast-edgar.com/20200806/AA2ZO22CZ22EWJZK22232ZE8FS4TZZ22ZA22/

Edited August 6, 2020 by mrlevin

[pappy1022]

Not unexpected but certainly not good news. We knew they would lose money given the circumstances but the lack of revenue is most concerning since it indicates that most people aren’t booking new cruises with new cash (not FCC’s). I think there are certainly people who will cruise whenever Regent offers it but I also believe that many will take a wait and see attitude before they plunk down serious $’s on a cruise. 

[Guerncruising]

Sadly I cannot see any logic in booking new cruises with new money when no one knows how or when we will be able to cruise again. To a certain extent it is almost like putting your money on a table and setting fire to it, times are that uncertain. 

Once I know more about the future of cruising then I will commit - with pleasure.