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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
Export Credit Financing for Newbuild-and-Growth Capital Expenditures
“~$2.0”
Period
FY2027
Measure
Company-defined measure
Source
Guidance table
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
Capital Expenditures The following table presents newbuild-and-growth capital expenditures, which mainly consists of capital expenditures related to the construction of new ships, private island developments and enhancements and other strategic growth initiatives:                       Third Quarter 2025 (millions)   Fourth Quarter 2025 (millions)   Full Year 2025 (billions)   Full Year 2026 (billions)   Full Year 2027 (billions) Newbuild-and-Growth Capital Expenditures, Gross 1 $827   ~$351   ~$2.7   ~$2.7   ~$2.7 Export Credit Financing for Newbuild-and-Growth Capital Expenditures $677   ~$50   ~$1.6   ~$1.6   ~$2.0 Newbuild-and-Growth Capital Expenditures, Net of Financing $150   ~$301   ~$1.1   ~$1.1   ~$0.7 __________________ Includes all newbuild related capital expenditures including shipyard progress payments. Note: Numbers may not add due to rounding. The following table presents other capital expenditures, which mainly consists of investments related to maintenance, Dry-dock renovations, and technology and digital:               Third Quarter 2025 (millions)   Fourth Quarter 2025 (millions)   Full Year 2025 (millions) Other Capital Expenditures $127   ~$149   ~$590 Fleet and Brand Updates Oceania Cruises enhanced its product offering with a new choice of amenities under its “Your World Included” program. On bookings made on or after September 17, 2025, guests will have the opportunity to choose one of two additional amenities: a generous shore excursion credit or complimentary wine and beer during lunch and dinner restaurant hours. Learn more here . Norwegian Cruise Line Holdings Ltd. announced the launch of its new Loyalty Status Honoring Program, enabling guests to have their loyalty status honored across all three cruise brands. Beginning with sailings departing Oct. 15, 2025, memb
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.