---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-26-002957"
form_type: "8-K"
ticker: "NCLH"
cik: "0001513761"
company_name: "Norwegian Cruise Line Holdings Ltd."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:53:12.907710+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001171843-26-002957
- form_type: 8-K
- ticker: NCLH
- cik: 0001513761
- company_name: Norwegian Cruise Line Holdings Ltd.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513761/000117184326002957/0001171843-26-002957-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513761/000117184326002957/f8k_050426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-26-002957
- JSON: https://secwatch.observer/filing/0001171843-26-002957.json
- Plain text: https://secwatch.observer/filing/0001171843-26-002957.txt

## Key facts
- Earnings Releases
  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
  source text: 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%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1513761/000117184326002957/0001171843-26-002957-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.