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Norwegian Cruise Line Holdings — Mar 2, 2026 release

Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-26-001220
Open on SEC.gov ↗
Showing in the filing
Fuel consumption in metric tons
“264,000”
Period
Q1 FY2026
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 49
Net Yield on a Constant Currency basis for FY2026
“expected to be approximately flat versus 2025”
Adjusted Net Cruise Cost excluding Fuel per … for FY2026
“expected to grow approximately 0.9% on a Constant Currency basis versus 2025”
Adjusted Net Cruise Cost excluding Fuel per … for FY2026
“grow approximately 0.9%”
Adjusted EBITDA for FY2026
“expected to be approximately $2.95 billion”
Adjusted Operational EBITDA Margin for FY2026
“expected to be approximately 37%”
Adjusted Net Income for FY2026
“expected to be approximately $1.12 billion”
Net Leverage for FY2026
“expected to end the year at ~5.2x”
Net Yield on a Constant Currency basis for Q1 FY2026
“expected to decline approximately 1.6% versus 2025”
Adjusted Net Cruise Cost excluding Fuel per … for Q1 FY2026
“expected to decline approximately 0.8% on a Constant Currency basis versus 2025”
Adjusted Net Cruise Cost excluding Fuel per … for Q1 FY2026
“decline approximately 0.8%”
Adjusted EBITDA for Q1 FY2026
“expected to be approximately $515 million”
Adjusted Operational EBITDA Margin for Q1 FY2026
“expected to be approximately 29%”
Occupancy for FY2026
“~105.7%”
Net Yield (As Reported) for Q1 FY2026
“~(1.0%)”
Net Yield (Constant Currency) for Q1 FY2026
“~(1.6%)”
Net Yield (As Reported) for FY2026
“~0.4%”
Adjusted Net Cruise Cost Excluding Fuel per … for Q1 FY2026
“~0.0%”
Net Yield (Constant Currency) for FY2026
“~0.0%”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2026
“~1.4%”
Capacity Days for Q1 FY2026
“~6.39 million”
Capacity Days for FY2026
“~26.25 million”
Occupancy for Q1 FY2026
“~104.2%”
Adjusted Net Income for Q1 FY2026
“~$77 million”
Adjusted EPS for Q1 FY2026
“~$0.16”
Adjusted EPS for FY2026
“$2.38”
Diluted Weighted-Average Shares Outstanding for Q1 FY2026
“~468 million”
Depreciation and Amortization for Q1 FY2026
“~$260 million”
Depreciation and Amortization for FY2026
“~$1,085 million”
Interest Expense, net for Q1 FY2026
“~$170 million”
Interest Expense, net for FY2026
“~$708 million”
Fuel consumption in metric tons for Q1 FY2026
“264,000”
Fuel consumption in metric tons for FY2026
“1,020,000”
Fuel price per metric ton, net of hedges for Q1 FY2026
“$650”
Fuel price per metric ton, net of hedges for FY2026
“$670”
Newbuild-and-Growth Capital Expenditures, Gr… for Q1 FY2026
“~$1.3”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2026
“~$2.8”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2027
“~$2.7”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2028
“~$1.7”
Export Credit Financing for Newbuild-and-Gro… for Q1 FY2026
“~$0.9”
Export Credit Financing for Newbuild-and-Gro… for FY2026
“~$1.6”
Export Credit Financing for Newbuild-and-Gro… for FY2027
“~$2.0”
Export Credit Financing for Newbuild-and-Gro… for FY2028
“~$1.4”
Newbuild-and-Growth Capital Expenditures, Ne… for Q1 FY2026
“~$0.4”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2026
“~$1.2”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2027
“~$0.7”
Other Capital Expenditures (millions) for Q1 FY2026
“~$120”
Other Capital Expenditures (millions) for FY2026
“~$540”
Additional ships expected to be added across… for FY2037
“17”
Additional Berths expected to be added to fl… for FY2037
“over 46,600”
Exhibit 99.1 · the passage around this item
… earlier in the release
The following reflects the Company’s expectations regarding fuel consumption and pricing, along with accompanying sensitivities:                        First Quarter 2026      Full Year 2026   Fuel consumption in metric tons 1     264,000     1,020,000   Fuel price per metric ton, net of hedges 2   $ 650   $ 670   Effect on Adjusted EPS of a 10% change in fuel prices, net of hedges   $ 0.01   $ 0.07   __________________________ (1) Total fuel consumption for the full year 2026 is expected to be comprised mainly of heavy fuel oil and marine gas oil, as well as other fuel types. (2) Fuel prices are based on spot rates as of mid-February.     As of January 16, 2026, the Company had hedged approximately 51% and 27% of its total projected metric tons of fuel consumption for 2026, and 2027, respectively. We primarily hedge heavy fuel oil (“HFO”) and marine gas oil (“MGO”). Other fuel types are unhedged. The following table provides amounts hedged and prices per metric ton:                          2026     2027   Blended HFO and MGO Hedge Price / Metric Ton   $ 513     $ 489   Total % of Consumption Hedged     51 %       27 % __________________________ Hedged derivatives include accounting hedges as well as economic hedges. 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 devel
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.