NCLH Q1 revenue +10% to $2.3B, Adj. EBITDA $533M beats guide; full-year outlook cut

NCL CORP Ltd.

GAAP net income $104.7M vs loss of $40.3M YoY; Adj. EPS $0.23, beating guidance of ~$0.16.
Full-year 2026 Adj. EPS guidance lowered to $1.45-$1.79; Net Yield expected down 3-5% due to Middle East disruptions.
Adj. EBITDA $533M (+18% YoY) exceeded guidance of ~$515M; Net Cruise Cost ex-fuel per Capacity Day down 0.2%.
SG&A savings initiatives to generate ~$125M in annualized run-rate savings; fuel price net of hedges $651/ton.
Board refreshed with 5 new independent directors effective March 31, 2026.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NCL CORP Ltd. reported first quarter ended March 31, 2026 results: revenue $2.3 billion, net income $104.7 million, EPS $0.23. Guidance lowered.

Period: first quarter ended March 31, 2026
Revenue: $2.3 billion
Net income: $104.7 million
EPS: $0.23
Guidance: lowered
Result: reported results

Exact text from the filing

financial results for the first quarter ended March 31, 2026 and provided guidance for the second quarter and full year 2026. Highlights First quarter total revenue grew 10% to $2.3 billion. GAAP net income was $105 million, with EPS of $0.23. Delivered Adjusted EBITDA 1 of $533 million in first quarter 2026, exceeding guidance, and representing an increase of 18%

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Source: SEC EDGAR

accession 0001171843-26-002956

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