Norwegian Cruise Line Holdings’ performance was so strong in the third quarter that the company broke another quarterly record and raised its full-year expectations for the fourth time this year.

The company, which includes Norwegian Cruise Line, Oceania and Regent Seven Seas Cruises, reported quarterly revenue of $2.8 billion in the third quarter, an 11% increase from the same period in the last year. Net profit for the quarter was $474.9 million, an increase of 37% compared to the same period in 2023.

Capacity increased by 4% year-on-year.

The company said its performance was driven by strong revenue growth and continued cost-cutting efforts. It raised its full-year guidance for net return and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

CEO Harry Sommer said he expects 2024 to be NCLH’s best year in terms of revenue, net return growth and adjusted EBITDA.

“For our third consecutive quarter, we achieved the highest quarterly gross revenue and adjusted EBITDA in our company history,” Sommer said.

NCLH is the third of the big three cruise lines to report continued strength this year, with Carnival Corp. and Royal Caribbean Group also recorded good quarters.

NCLH said the majority of its new bookings are now focused on cruises in 2025 and beyond. It is in the upper range of its optimal 12-month forward reserved position. The occupancy rate was 108.1% in the third quarter, and the occupancy rate for the full year is expected to reach 105%.

The company’s quarterly ticket sales balance was $3.3 billion, another quarterly high for NCLH and approximately 6% higher than the same period last year.