Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
NASSAU, Bahamas - On Wednesday, OneSpaWorld Holdings Limited (NASDAQ:OSW) reported record third quarter results that met analyst expectations, driven by increased guest spending and fleet expansion.
The cruise ship spa operator’s shares gained 1.74% in pre-market trading after the release.
The company posted adjusted earnings per share of $0.29, in line with analyst estimates, while revenue reached a record $258.5 million, just shy of the $258.63 million consensus. Total revenues increased 7% YoY, fueled by a 4% rise in average guest spend and fleet expansion from new vessel builds.
"We delivered a record third quarter at the high end of our guidance, marking our 18th consecutive quarterly period of year-over-year growth in Total Revenues and Adjusted EBITDA," said Leonard Fluxman, Executive Chairman and CEO.
The company raised its fiscal 2025 guidance, now expecting annual revenue of $960-965 million and adjusted EBITDA of $122-124 million, representing 8% and 10% growth respectively at the midpoint compared to fiscal 2024.
OneSpaWorld ended the quarter with health and wellness centers on 204 cruise ships, up from 196 ships in the same period last year. The company also returned significant capital to shareholders, repurchasing $17.6 million of shares during Q3 and an additional $15 million since quarter-end.
"Our execution of our asset-light business model continues to generate strong free cash flow," Fluxman added, noting that the company’s board approved a 25% increase in its quarterly dividend to $0.05 per share.
The company maintains a strong financial position with $30.8 million in cash and $80.8 million in total liquidity as it prepares to launch wellness centers on two additional new ship builds before year-end.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.