Norwegian Cruise Line Holdings Third-Quarter Revenue Reaches $2.9 Billion With Net Income of $491 Million as Full-Year Guidance Is Raised
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) reported third-quarter 2026 results on October 29 in Miami. Total revenue was $2.9 billion. GAAP net income was $491 million, or $1.07 per share, compared with $419 million a year earlier.
Adjusted results also beat guidance: adjusted EBITDA was $937 million versus guidance of $874 million, adjusted net income was $514 million and adjusted EPS was $1.12 versus guidance of $0.90. The company said stronger-than-expected close-in demand and onboard spending, together with cost discipline, drove the beat.
On the business side, the nearly six-acre Great Tides Waterpark opened in early September at the company's private island, Great Stirrup Cay. On October 15 the company issued $950 million of senior notes due 2031 and upsized its revolving credit facility. It also completed the sale of Oceania Sirena under a charter back through spring 2028 and agreed to sell Oceania Insignia, with delivery expected in September 2027.
As of September 30, total debt was $15.1 billion and net debt $14.8 billion, for net leverage of 5.5 times. On a pro forma basis for the post-quarter financing, liquidity would have been $2.1 billion.
The company raised full-year 2026 guidance: adjusted EBITDA of approximately $2.55 billion, adjusted net income of approximately $789 million and adjusted EPS of approximately $1.70. Fourth-quarter adjusted EBITDA is expected to be about $414 million. For 2027, the company expects net yield growth of 1% to 2%, with a meaningful acceleration in the second half.
Chairperson and CEO John W. Chidsey said third-quarter results came in above guidance as the company sharpens brand positioning, marketing effectiveness and revenue management. Executive Vice President and CFO Mark A. Kempa said reducing net leverage remains a top priority and that, following the post-quarter issuance, the company has no significant debt maturities until 2029.
Source: GSM · USA (original Chinese edition)
Photo: 图：挪威邮轮旗下「Norwegian Encore」号邮轮2026年5月驶离加拿大 Victoria 时的船尾全景。照片：Gordon Leggett 摄，CC BY 4.0，经 Wikimedia Commons。 / The Norwegian Cruise Line ship Norwegian Encore departing Victoria, British Columbia, in May 2026. Photo: Gordon Leggett, CC BY 4.0, via Wikimedia Commons.
