Business
OneSpaWorld Reports Record Second Quarter Fiscal 2024 Results and Increases Fiscal Year Guidance
Board Authorizes Annual Cash Dividend Total Revenues of $224.9 Million, Income from Operations of $18.8 Million and Adjusted EBITDA of $27.1 Million
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nBoard Authorizes Annual Cash Dividend\n\n\nTotal Revenues of $224.9 Million, Income from Operations of $18.8 Million and Adjusted EBITDA of $27.1 Million\n\n\nIncreases Fiscal 2024 Revenues Guidance to $870 - $890 Million from $860 - $880 Million\n\n\nIncreases Fiscal 2024 Adjusted EBITDA Guidance to $102 - $108 Million from $95 - $105 Million\n\n\n NASSAU, Bahamas--(BUSINESS WIRE)--\nOneSpaWorld Holdings Limited (NASDAQ: OSW) (“OneSpaWorld,” or the “Company”), the pre-eminent global provider of health and wellness services and products on-board cruise ships and in destination resorts around the world, today announced its financial results for its second quarter and first six months of fiscal 2024 ended June 30, 2024.\n\n\nLeonard Fluxman, Executive Chairman, Chief Executive Officer, and President of OneSpaWorld, commented: “Our team delivered an outstanding second quarter capping off an excellent first half of the year. Our consistently strong performance evidences the power of our operating platform to deliver unsurpassed guest experiences for our cruise line and destination resort partners. Driven by our continuing momentum and scaling impact of our growth drivers, we are again increasing our annual guidance beyond the quarter’s outperformance.\n\n\nThe second quarter included many noteworthy accomplishments,” continued Mr. Fluxman. “We grew total revenue by 12%, income from operations by 40% and adjusted EBITDA by 25%. We generated robust free cash flow, further bolstering our strong balance sheet. We continued to innovate our services, products and guest experiences. And we further leveraged our management systems and experienced staff to increase guest services productivity and retail attachment rates generating record maritime operating metrics, including revenue per passenger per day, revenue per staff day, and weekly revenue per ship.”\n\n\nMr. Fluxman stated further: “We are pleased to announce that our Board of Directors adopted an annual cash dividend program, which recognizes our ability to leverage our industry leading operating platform, integrated growth initiatives and asset-light business model to generate consistently increasing after-tax free cash flow. We remain confident in our ability to deliver strong operating and financial performance, both near-term and long-term, and increase value to our shareholde...