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Companies / Norwegian Cruise Line Holdings / Filing

Norwegian Cruise Line Holdings — May 4, 2026 release

Fiscal 2026 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001171843-26-002957
Open on SEC.gov ↗
Showing in the filing
Adjusted Operational EBITDA Margin
“expected to be 32.9% to 34.3%”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 53
Expected annualized run-rate savings
“approximately $125 million”
Net Yield on a Constant Currency basis for FY2026
“expected to be down approximately 3% to 5% versus 2025”
Net Yield (Constant Currency) for FY2026
“down approximately 3% to 5%”
Adjusted Net Cruise Cost excluding Fuel per … for FY2026
“expected to be approximately flat on a Constant Currency basis versus 2025”
Adjusted EBITDA for FY2026
“expected to be approximately $2.48 billion to $2.64 billion”
Adjusted Operational EBITDA Margin for FY2026
“expected to be 32.9% to 34.3%”
Adjusted Net Income for FY2026
“expected to be approximately $679 million to $838 million”
Net Yield on a Constant Currency basis for Q2 FY2026
“expected to decline approximately 3.6% versus 2025”
Net Yield (Constant Currency) for Q2 FY2026
“decline approximately 3.6%”
Adjusted Net Cruise Cost excluding Fuel per … for Q2 FY2026
“expected to grow approximately 1.0% on a Constant Currency basis versus 2025”
Adjusted Net Cruise Cost Excluding Fuel per … for Q2 FY2026
“grow approximately 1.0%”
Adjusted EBITDA for Q2 FY2026
“expected to be approximately $632 million”
Adjusted Operational EBITDA Margin for Q2 FY2026
“expected to be approximately 32.5%”
Net Yield (As Reported) for Q2 FY2026
“~(3.2%)”
Net Yield (As Reported) for FY2026
“(2.7%) – (4.7%)”
Adjusted Net Cruise Cost Excluding Fuel per … for Q2 FY2026
“~1.4%”
Adjusted Net Cruise Cost Excluding Fuel per … for FY2026
“~0.3%”
Adjusted Net Cruise Cost excluding Fuel per … for FY2026
“~0.0%”
Capacity Days for Q2 FY2026
“~6.6 million”
Capacity Days for FY2026
“~26.25 million”
Occupancy for Q2 FY2026
“~102.5%”
Occupancy for FY2026
“~104.2%”
Adjusted Net Income for Q2 FY2026
“~$178 million”
Adjusted EPS for Q2 FY2026
“~$0.38”
Adjusted EPS for FY2026
“$1.45 to $1.79”
Diluted Weighted-Average Shares Outstanding for Q2 FY2026
“~467 million”
Diluted Weighted-Average Shares Outstanding for FY2026
“~468 million”
Depreciation and Amortization for Q2 FY2026
“~$275 million”
Depreciation and Amortization for FY2026
“~$1,085 million”
Interest Expense, net for Q2 FY2026
“~$175 million”
Interest Expense, net for FY2026
“~$695 million”
Fuel consumption in metric tons for Q2 FY2026
“251,000”
Fuel consumption in metric tons for FY2026
“1,020,000”
Fuel price per metric ton, net of hedges for Q2 FY2026
“$860”
Fuel price per metric ton, net of hedges for FY2026
“$782”
Newbuild-and-Growth Capital Expenditures, Gr… for Q3 FY2026
“$260”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2027
“~$2.9”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2026
“~$2.9”
Newbuild-and-Growth Capital Expenditures, Gr… for FY2028
“~$1.8”
Export Credit Financing for Newbuild-and-Gro… for Q3 FY2026
“$111”
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
“~$1.3”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2026
“~$1.3”
Newbuild-and-Growth Capital Expenditures, Ne… for Q2 FY2026
“$380”
Newbuild-and-Growth Capital Expenditures, Ne… for Q3 FY2026
“$149”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2027
“~$0.9”
Newbuild-and-Growth Capital Expenditures, Ne… for FY2028
“~$0.5”
Other Capital Expenditures for Q2 FY2026
“$140”
Other Capital Expenditures for Q3 FY2026
“103”
Other Capital Expenditures for FY2026
“~$540”
Fleet additions (ships) for FY2037
“16 additional ships”
Fleet additions (Berths) for FY2037
“~43,000 Berths”
Exhibit 99.1 · the passage around this item
… earlier in the release
2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to be approximately flat on a Constant Currency basis versus 2025, reflecting better-than-previously-guided performance driven by workforce optimization and other SG&A savings. 2026 full year Adjusted EBITDA is expected to be approximately $2.48 billion to $2.64 billion. Adjusted Operational EBITDA Margin for the full year 2026 is expected to be 32.9% to 34.3%. Full year Adjusted Net Income is expected to be approximately $679 million to $838 million. Adjusted EPS is expected to be $1.45 to $1.79. Q2 2026 Outlook Q2 2026 Net Yield on a Constant Currency basis is expected to decline approximately 3.6% versus 2025. Q2 2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow approximately 1.0% on a Constant Currency basis versus 2025. Q2 2026 Adjusted EBITDA is expected to be approximately $632 million and Adjusted Operational EBITDA Margin for the quarter is expected to be approximately 32.5%. Booking Environment Update The Company remains below its optimal booking range following certain execution missteps, exacerbated by softer demand related to heightened geopolitical uncertainty. Recent events related to the conflict in the Middle East have impacted bookings across all three brands, especially in Europe during the summer season. While the near-term environment remains challenging, the Company is taking targeted actions to better align commercial strategy, including marketing, with deployment and revenue management, with the benefits of these actions expected to materialize gradually over time. Liquidity and Fi
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.