NCLH beats Q1 estimates but slashes full-year 2026 guidance on geopolitical headwinds

Norwegian Cruise Line Holdings Ltd.

2026-Q1 EPS reported $0.23 revenue$2,331,221,000

Q1 revenue $2.3B (+10% YoY); GAAP net income $105M ($0.23 EPS); Adjusted EBITDA $533M (+18%).
Adjusted EPS $0.23 beat guidance of ~$0.16; but full-year 2026 Adjusted EPS cut to $1.45-$1.79.
Full-year Net Yield outlook cut to -3% to -5% on constant currency; cites Middle East disruptions and softer European demand.
Initiated $125M annualized SG&A savings through workforce optimization and streamlining.
Q2 2026 Adjusted EBITDA expected ~$632M; net leverage at 5.3x with $1.6B liquidity.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Norwegian Cruise Line Holdings 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 0001171843-26-002957

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