Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) Q1 2020 Earnings Conference Call - Final Transcript

May 14, 2020 • 10:00 am ET


Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) Q1 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Norwegian Cruise Line Holdings First Quarter 2020 Conference Call. My name is Jonathan. I will be your operator. [Operator Instructions] As a reminder to all participants, this conference call is being recorded.

I would now like to turn the conference call over to your host, Ms. Andrea DeMarco, Senior Vice President of Investor Relations, Corporate Communications and ESG. Ms. DeMarco, please proceed.

Andrea DeMarco

Thank you, Jonathan, and good morning, everyone, and thank you for joining us for our first quarter 2020 earnings call. In the past, we have hosted our earnings calls from various locations, including London, the New York Stock Exchange and even onboard our vessels. Never have we hosted a call with our entire team scattered in different locations. It's one of the many ways we're adopting to the new environment, so I ask that you bear with us as we find our sea legs on our first socially distanced earnings call.

I'm therefore joined virtually today by Frank Del Rio, President and Chief Executive Officer of Norwegian Cruise Line Holdings; and Mark Kempa, Executive Vice President and Chief Financial Officer. Frank will begin the call with opening commentary, after which Mark will follow to discuss results for the quarter before handing the call back to Frank for closing remarks. We will then open the call for your questions.

As a reminder, this conference call is being simultaneously webcast on the Company's Investor Relations website at We will also make reference to a slide presentation during this call, which may also be found on our Investor Relations website. Both the conference call and presentation will be available for replay for 30 days following today's call.

Before we discuss our results, I'd like to just cover a few items. Our press release's first quarter 2020 results was issued this morning and is available on our Investor Relations website. This call also includes forward-looking statements that may involve risks and uncertainties that could cause our actual results to differ materially from such statements. These statements should be considered in conjunction with the cautionary statement contained in our earnings release.

Our comments may also reference non-GAAP financial measures. A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release and presentation.

And with that, I'd like to turn the call over to Frank Del Rio. Frank?

Frank J. Del Rio

Thank you, Andrea, and good morning, everyone. I hope everyone joining us today, along with your loved ones and colleagues, are safe and healthy. Every one of us is doing our part to combat this pandemic by sheltering in place and practicing social distancing. But no one is doing more for us than our first responders, frontline workers and those providing essential services. To them, I'd like to extend our sincerest thanks on behalf of everyone in Norwegian Cruise Line Holdings for all they are doing for communities around the world.

In the three months that have passed since we last