Norwegian Cruise Line (NCLH) earnings were released today. February 28th. Alex Coffey and Jenny Horne discuss NCLH as it reported a wider loss than expected. They talk about how NCLH occupancy improved 87% this quarter, but ended with $13.6B in debt. They note that 4Q total revenue per passenger cruise day is up about 23%. They then compare NCLH to Carnival (CCL) and Royal Caribbean (RCL). They also go over how NCLH's 4Q adjusted EPS came in at -$1.04 versus an estimated -$0.89. Alex then demonstrates an example trade using NCLH. The trade type is a buy put vertical and the direction is bearish.