OneSpaWorld Sees Strong Growth In EBITDA, Revenues In Q4, FY22, FY23

(RTTNews) - OneSpaWorld Holdings Ltd., (OSW), a provider of health and wellness products and services on board cruise ships and in destination resorts, Monday announced its fourth-quarter and fiscal 2022 preliminary expectations, and also initiated fiscal 2023 outlook.

On a preliminary basis, for the fourth quarter, the company expects total revenues in the range of $162.7 million to $167.7 million, an increase of 92.8 percent from last year and an increase of 18.5 percent from the 2019 fourth quarter at the mid-point of the preliminary range.

EBITDA for the quarter is expected in the range of $14.3 million to $17.3 million, more than double fiscal year 2021 and an increase of 26.4 percent from 2019.

For fiscal 2022, the company expects total revenues in the range of $540 million to $545 million, nearly tripling from 2021 and approaching fiscal 2019 total revenues at the mid-point of the range.

EBITDA for the year is expected in the range of $44 million to $47 million compared to a loss of $18.9 million in the 2021 fiscal year and versus $58.2 million in the 2019 fiscal year.

For fiscal 2023, the company expects total revenues in the range of $660.0 million to $680.0 million, and EBITDA in the range of $64.0 million to $70.0 million.

On average, four analysts polled by Thomson Reuters expect revenues of $149.59 million for the fourth quarter, $521.09 million for fiscal 2022, and $661.99 million for fiscal 2023. Analysts' estimates typically exclude special items.

Leonard Fluxman, Executive Chairman, Chief Executive Officer and President of OneSpaWorld, said, "We capped off the year strong building upon the positive momentum we experienced in our business throughout 2021, reflecting the outstanding execution of our post-pandemic return to service, and our initiatives that drove higher sales productivity through elevated and expanded offerings and guest experiences. Even as ships continue to return to service and capacity levels remain below historical levels, we expect fourth quarter 2022 revenues to nearly double from fourth quarter 2021 and increase 18.5 percent from the 2019 fourth quarter at our guidance mid-point."