Norwegian Cruise Line (NCLH) Q1 2026

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Earnings

Norwegian Cruise Line Holdings delivered a sharply mixed first quarter for 2026, posting adjusted earnings of $0.23 per share and handily clearing the $0.14 consensus estimate by 61.29%, even as revenue of $2.33 billion came in fractionally below the… Read more Norwegian Cruise Line Holdings delivered a sharply mixed first quarter for 2026, posting adjusted earnings of $0.23 per share and handily clearing the $0.14 consensus estimate by 61.29%, even as revenue of $2.33 billion came in fractionally below the $2.36 billion Wall Street had anticipated. The profit story was driven by a meaningful capacity expansion, with Capacity Days rising to 6.39 million from 5.70 million a year ago, while occupancy climbed to 103.8% from 101.5%, helping push Adjusted EBITDA up 18% to $532.90 million. The company also swung to GAAP net income of $104.67 million from a loss of $40.30 million in the prior-year period, with total revenue growing 9.6% year over year. The quarter's bright spots, however, were quickly overshadowed by a material cut to full-year guidance, as management cited Middle East-related disruptions, elevated fuel costs, and softer demand for European summer itineraries; full-year adjusted EPS is now expected in a range of $1.45 to $1.79, with net yield on a constant currency basis forecast to decline 3% to 5%.