Aug 1 (Reuters) - Norwegian Cruise Line (NCLH.N) forecast third-quarter profit below estimates on Tuesday as higher costs offset its gains from pent-up demand for leisure travel and raised ticket prices, sending its shares down about 10% before the bell.
Despite undertaking price hikes, higher costs and spiraling marketing expenses have eroded the benefits of a recent resurgence in demand from affluent customers.
Rival Carnival (CCL.N) has forecast third-quarter profit below estimates, signalling that rising marketing and labor costs were eating into its gains from higher ticket prices and steady demand.
Norwegian Cruise expects third-quarter adjusted profit of 70 cents per share, compared with analysts' average estimate of 79 cents, according to data from Refinitiv.
However, the cruise operator expects full-year adjusted profit of 80 cents per share, compared with its earlier forecast of 75 cents.
Persons:
Granth, Shinjini
Organizations:
Cruise, Carnival, Royal Caribbean Cruises, Norwegian Cruise, Thomson
Locations:
Russia, Ukraine, Norwegian, Refinitiv, Bengaluru