HighGravityData
Companies / Norwegian Cruise Line Holdings / Filing

Norwegian Cruise Line Holdings — Nov 4, 2025 release

Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-25-006936
Open on SEC.gov ↗
Showing in the filing
Adjusted EBITDA
“approximately $2.72 billion”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 40
Load Factor for FY2026
“exceeding 2024 levels”
Net Yield on a Constant Currency basis for FY2025
“expected to increase approximately 2.4-2.5% versus 2024”
Adjusted Net Cruise Cost excluding Fuel per … for FY2025
“expected to grow approximately 0.75% on a Constant Currency basis versus 2024”
Adjusted EBITDA for FY2025
“approximately $2.72 billion”
Adjusted Operational EBITDA Margin for FY2025
“approximately 37%”
Adjusted Net Income for FY2025
“approximately $1.045 billion”
Net Leverage for FY2025
“~5.3x”
Adjusted Net Cruise Cost Excluding Fuel per … for Q4 FY2025
“~1.2%”
Capacity Days for Q4 FY2025
“~6.28 million”
Capacity Days for FY2025
“~24.45 million”
Occupancy for Q4 FY2025
“~101.9%”
Occupancy for FY2025
“~103.5%”
Adjusted EBITDA for Q4 FY2025
“~$555 million”
Adjusted Net Income for Q4 FY2025
“~$127 million”
Adjusted EPS for Q4 FY2025
“~$0.27”
Adjusted EPS for FY2025
“$2.10”
Diluted Weighted-Average Shares Outstanding for Q4 FY2025
“~467 million”
Diluted Weighted-Average Shares Outstanding for FY2025
“~496 million”
Depreciation and Amortization for Q4 FY2025
“~$259 million”
Depreciation and Amortization for FY2025
“~$985 million”
Interest Expense, net for Q4 FY2025
“~$179 million”
Interest Expense, net for FY2025
“~$690 million”
Fuel consumption in metric tons for Q4 FY2025
“263,000”
Fuel consumption in metric tons for FY2025
“993,000”
Fuel price per metric ton, net of hedges for Q4 FY2025
“$672”
Fuel price per metric ton, net of hedges for FY2025
“$690”
Newbuild-and-Growth Capital Expenditures, Gr… for Q4 FY2025
“~$351”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2027
“~$2.7”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2026
“~$2.7”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2025
“~$2.7”
Export Credit Financing for Newbuild-and-Gro… for Q4 FY2025
“~$50”
Export Credit Financing for Newbuild-and-Gro… for FY2026
“~$1.6”
Export Credit Financing for Newbuild-and-Gro… for FY2025
“~$1.6”
Export Credit Financing for Newbuild-and-Gro… for FY2027
“~$2.0”
Newbuild-and-Growth Capital Expenditures, Ne… for Q4 FY2025
“~$301”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2026
“~$1.1”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2025
“~$1.1”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2027
“~$0.7”
Other Capital Expenditures for Q4 FY2025
“~$149”
Other Capital Expenditures for FY2025
“~$590”
Exhibit 99.1 · the passage around this item
… earlier in the release
A summary of the updated full year guidance is provided below: 2025 full year Net Yield guidance on a Constant Currency basis is expected to increase approximately 2.4-2.5% versus 2024. 2025 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow approximately 0.75% on a Constant Currency basis versus 2024. 2025 full year Adjusted EBITDA guidance is unchanged and expected to be approximately $2.72 billion. Adjusted Operational EBITDA Margin guidance for the full year 2025 is unchanged and expected to be approximately 37%, a 150 basis point increase versus 2024. Full year Adjusted Net Income guidance is reiterated at approximately $1.045 billion. Adjusted EPS guidance is expected to be $2.10 compared to previous guidance of $2.05. Net Leverage guidance is expected to end the year at ~5.3x compared to previous guidance of ~5.2x. The Company remains committed to achieving its 2026 Charting the Course financial targets. Booking Environment Update The Company continues to experience healthy consumer demand across its portfolio of three brands for the balance of 2025 and into 2026, with record bookings made in the third quarter, including strong demand for its Caribbean sailings. As a result, the Company remains well positioned within its optimal range for its forward 12-month booked position. Occupancy for the third quarter of 2025 was 106.4%, exceeding guidance of ~105.5%. Liquidity and Financial Position The Company is committed to prioritizing efforts to optimize its balance sheet and reduce Net Leverage. As of September 30, 2025, the Company had total debt of $14.5 billion and Net D
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.