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    Michael Pace

    Research Analyst at JPMorgan Chase & Co.

    Michael Pace is an Executive Director and Equity Research Analyst at J.P. Morgan, specializing in coverage of the U.S. diversified financials sector with a focus on companies such as Moody’s, S&P Global, and Intercontinental Exchange. He has built a reputation for insightful analysis and timely investment recommendations, with his published calls contributing to measurable positive returns for institutional clients. Michael began his career in finance after earning his credentials from Villanova University and joining JPMorgan Chase in 2015, where he has since advanced through roles of increasing responsibility. He holds FINRA Series 7, 63, 86, and 87 licenses and is recognized for his in-depth sector knowledge and strong relationships with corporate management teams.

    Michael Pace's questions to Norwegian Cruise Line Holdings (NCLH) leadership

    Michael Pace's questions to Norwegian Cruise Line Holdings (NCLH) leadership • Q3 2024

    Question

    Michael Pace asked for more detail on the 'strong momentum' cited, including any brand or regional outliers, and questioned how costs would react next year if yields were to outperform the initial plan.

    Answer

    CEO Harry Sommer confirmed the momentum is broad-based with no notable outliers or signs of softening. CFO Mark Kempa and Harry Sommer both stressed that cost and yield targets are independent; outperformance on yield would not automatically lead to higher spending, as the company is focused on rightsizing its unit cost base and balancing ROI with guest experience.

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