Norwegian Cruise Line (NYSE:NCLH) Issues Quarterly Earnings Results

04 May 2026, 10:06 by Teresa Graham · The Cerbat Gem

Norwegian Cruise Line (NYSE:NCLH – Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08, Briefing.com reports. Norwegian Cruise Line had a net margin of 4.31% and a return on equity of 50.05%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Norwegian Cruise Line updated its Q2 2026 guidance to 0.380-0.380 EPS and its FY 2026 guidance to 1.450-1.790 EPS.

Here are the key takeaways from Norwegian Cruise Line’s conference call:

New CEO John Chidsey is executing a turnaround focused on culture, accountability and rebuilding marketing and revenue-management capabilities, but management warns these commercial fixes will take quarters to fully materialize and may cause near-term variability.
Management expects structural cost savings including ~$125 million of annualized SG&A reductions, ~15% lower shoreside salary/benefits and nearly $400 million of cumulative savings to date, while gross new-build CapEx is set to decline by nearly $1 billion per year starting in 2028, supporting future free cash flow and deleveraging.
Revenue is under pressure—management cut 2026 Net Yield guidance to a decline of 3%–5% (Q2 -3.6%) and flagged a materially weaker Q3 due to heavy Europe exposure, a behind-curve booking position and Middle East–related demand and cost headwinds.
The company lowered full-year outlook to adjusted EBITDA of $2.48B–$2.64B and adjusted EPS of $1.45–$1.79, and expects year-end net leverage in the high‑5x area, though management says leverage should improve as earnings recover and CapEx moderates.

Norwegian Cruise Line Trading Down 9.3%

Shares of NCLH traded down $1.76 during trading hours on Monday, hitting $17.05. 12,751,582 shares of the stock were exchanged, compared to its average volume of 21,544,639. Norwegian Cruise Line has a fifty-two week low of $16.78 and a fifty-two week high of $27.18. The company has a debt-to-equity ratio of 6.21, a current ratio of 0.21 and a quick ratio of 0.18. The business has a 50-day moving average of $20.21 and a 200-day moving average of $20.99. The firm has a market capitalization of $7.77 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 0.65 and a beta of 1.92.

Institutional Investors Weigh In On Norwegian Cruise Line

Large investors have recently modified their holdings of the company. Headlands Technologies LLC increased its position in shares of Norwegian Cruise Line by 235.6% during the second quarter. Headlands Technologies LLC now owns 16,553 shares of the company’s stock worth $336,000 after buying an additional 11,620 shares during the period. Thomist Capital Management LP increased its stake in Norwegian Cruise Line by 16.5% in the fourth quarter. Thomist Capital Management LP now owns 14,809 shares of the company’s stock valued at $332,000 after purchasing an additional 2,101 shares in the last quarter. Optimist Retirement Group LLC increased its stake in Norwegian Cruise Line by 18.9% in the second quarter. Optimist Retirement Group LLC now owns 15,522 shares of the company’s stock valued at $315,000 after purchasing an additional 2,471 shares in the last quarter. Ausdal Financial Partners Inc. raised its holdings in shares of Norwegian Cruise Line by 6.0% during the fourth quarter. Ausdal Financial Partners Inc. now owns 12,381 shares of the company’s stock valued at $276,000 after purchasing an additional 702 shares during the period. Finally, PCM Encore LLC acquired a new position in shares of Norwegian Cruise Line during the fourth quarter valued at about $253,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Norwegian Cruise Line

Here are the key news stories impacting Norwegian Cruise Line this week:

Positive Sentiment: Q1 beat and profitability — NCLH reported GAAP EPS of $0.23 vs. a ~ $0.15 consensus, GAAP net income of ~$105M and Adjusted EBITDA of $533M; revenue rose ~9.6% y/y to about $2.3B, signaling demand recovery. Read More.
Positive Sentiment: Industry signal — Strength at peers (Royal Caribbean) earlier in the session supported sector momentum, a constructive confirmation for cruise demand broadly. Read More.
Neutral Sentiment: Company materials published — Management released a slide deck and call materials that investors can review for route/capacity and cost assumptions. Read More.
Negative Sentiment: Guidance cut — NCLH lowered FY 2026 EPS to a range of ~1.45–1.79 (consensus ~2.10) and Q2 to $0.38 vs. ~ $0.51 expected, materially below Street forecasts and driving downside to the stock. Read More.
Negative Sentiment: Higher fuel costs / geopolitical risk — Management cited the Middle East conflict raising fuel costs and softer demand on some itineraries as reasons for the weaker outlook, increasing cost uncertainty. Read More.
Negative Sentiment: Market reaction and revenue nuance — Although EPS beat, the company missed revenue expectations and several outlets report the stock fell on weak guidance and the demand/fuel callouts. Read More.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Norwegian Cruise Line from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Citigroup upped their price target on shares of Norwegian Cruise Line from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. TD Cowen restated a “buy” rating on shares of Norwegian Cruise Line in a research report on Tuesday, January 13th. Tigress Financial decreased their price objective on shares of Norwegian Cruise Line from $38.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Norwegian Cruise Line from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.76.

View Our Latest Analysis on NCLH

About Norwegian Cruise Line

(Get Free Report)

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages.