Norwegian Cruise Line Holdings Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 Adjusted EBITDA $937 million, exceeding guidance by $63 million
- ➤2026 Adjusted EBITDA guidance raised to approximately $2.55 billion
- ➤2026 Adjusted EPS guidance raised to approximately $1.70
- ➤Q3 GAAP net income $491 million, up from $419 million year over year
- ➤Additional run-rate savings of approximately $100 million planned through 2028
Expert Statements
John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd.
“We delivered third quarter results that came in above guidance, all while continuing to strengthen our commercial capabilities, improve operating efficiency and enhance the guest experience”
John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd.
“As we implement the next phase of our turnaround, we are focused on sharpening Norwegian Cruise Line’s brand positioning, improving marketing effectiveness and taking a more disciplined approach to revenue management as well as a prudent base-loading strategy.”
John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd.
“We are seeing the early signs of progress and expect Net Yield growth of 1% to 2% in 2027, with a meaningful acceleration in the back half of the year.”
Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
“Subsequent to quarter-end, we completed the issuance of $950 million of 8.750% senior notes due 2031 and upsized our Revolving Loan Facility, strengthening our liquidity position.”
Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
“With no significant debt maturities until 2029, we believe our existing financial resources and ongoing cash generation provide a clear path to fund our turnaround strategy and strengthen our balance sheet over time,”
Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
“Reducing Net Leverage remains a top priority.”
Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd.
“We continue to center our focus on cost discipline and cash generation as we work to restore Net Yield growth, with stronger earnings and cash flow expected to drive further deleveraging.”
MIAMI, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (together with NCL Corporation Ltd. (“NCLC”), “Norwegian Cruise Line Holdings”, “Norwegian”, “NCLH” or the “Company”) today reported financial results for the third quarter ended September 30, 2026 and provided guidance for the fourth quarter and full year 2026.
Highlights * Third quarter total revenue was $2.9 billion. GAAP net income was $491 million with EPS of $1.07. * Delivered third quarter results above guidance, with Adjusted EBITDA(1) of $937 million, Adjusted Net Income of $514 million and Adjusted EPS of $1.12. * Raised full year 2026 guidance, with 2026 Adjusted EBITDA now expected to be approximately $2.55 billion and Adjusted EPS of approximately $1.70. * Opened Great Tides Waterpark in early September at the Company’s private island, Great Stirrup Cay. Spanning nearly six acres, the waterpark expands the island’s offerings with attractions for guests of all ages. * Announced additional run-rate savings of ~$100 million related to guest and crew air optimization and other tactical changes in promotional offerings that will phase in through 2028. * Completed the issuance of $950 million of senior notes due 2031 on October 15, which together with the upsizing of the Revolving Loan Facility, enhanced the Company’s liquidity position. * Completed the sale of Oceania Sirena and entered into a charter agreement to continue operating the vessel through spring 2028. * Entered into a memorandum of agreement to sell Oceania Insignia with an expected delivery to the buyer in September 2027. “We delivered third quarter results that came in above guidance, all while continuing to strengthen our commercial capabilities, improve operating efficiency and enhance the guest experience,” said John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd. “As we implement the next phase of our turnaround, we are focused on sharpening Norwegian Cruise Line’s brand positioning, improving marketing effectiveness and taking a more disciplined approach to revenue management as well as a prudent base-loading strategy. We are seeing the early signs of progress and expect Net Yield growth of 1% to 2% in 2027, with a meaningful acceleration in the back half of the year.”
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