HighGravityDataNorwegian Cruise Line Holdings — Mar 2, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-26-001220
Showing in the filing
Additional Berths expected to be added to fleet
“over 46,600”
Period
FY2037
Measure
Company-defined measure
Source
Prose
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
With a combined fleet of 34 ships and more than 71,000 Berths, NCLH offers itineraries to approximately 700 destinations worldwide. NCLH expects to add 17 additional ships across its three brands through 2037, which will add over 46,600 Berths to its fleet. To learn more, visit www.nclhltd.com. Terminology 2027 Exchangeable Notes. On November 19, 2021, pursuant to an indenture among NCLC, as issuer, NCLH, as guarantor, and U.S. Bank National Association, as trustee, NCLC issued $1,150.0 million aggregate principal amount of 1.125% exchangeable senior notes due 2027. On February 15, 2022, pursuant to an indenture among NCLC, as issuer, NCLH, as guarantor, and U.S. Bank Trust Company, National Association, as trustee, NCLC issued $473.2 million aggregate principal amount of 2.5% exchangeable senior notes due 2027. 2030 Exchangeable Notes. On September 11, 2025, pursuant to an indenture among NCLC, as issuer, NCLH, as guarantor, and U.S. Bank Trust Company, National Association, as trustee, NCLC issued $1,407.0 million aggregate principal amount of 0.750% exchangeable senior notes due 2030 . Adjusted EBITDA . EBITDA adjusted for other income (expense), net and other supplemental adjustments. Adjusted EPS. Adjusted Net Income divided by the number of diluted weighted-average shares outstanding. Adjusted Gross Margin. Gross margin adjusted for payroll and related, fuel, food, other and ship depreciation. Gross margin
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.