Norwegian Cruise (NCLH) Loses 10.5% on Weak Earnings, Outlook

We recently published 10 Firms Facing a Rough March So Far. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) was one of the worst performers on Monday.

Norwegian Cruise fell by 10.53 percent on Monday to close at $22.18 apiece,  as investors took path from a dismal earnings performance last year, and a weak outlook for 2026.

In an updated report, the cruise giant said that net income last year declined by 53 percent to $423 million from $910 million in 2024, despite total revenues inching up by 3.4 percent to $9.8 billion from $9.48 billion.

In the fourth quarter alone, net income stood at $14.2 million, marking a 94 percent drop from $254 million year-on-year. Total revenues jumped by 4.8 percent to $2.2 billion from $2.1 billion.

Commenting on the company’s performance, newly installed president and CEO, John Chidsey, said that the strategy was “sound, but execution and cross-functional alignment have fallen short.”

“Our priority is to act urgently to address these gaps by improving coordination, reinforcing accountability, and strengthening financial discipline across the organization. The good news is that we have strong assets and have recently enhanced our leadership team with the right combination of new and tenured talent. Now, with a clear focus and necessary rigor, I am confident in our ability to create sustainable long-term value,” he noted.

For this year, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is looking at an adjusted EBITDA of $2.95 billion, or an implied 8 percent growth from $2.73 billion in 2025.

For the first quarter alone, adjusted EBITDA is targeted at $515 million, while adjusted operational EBITDA margin is pegged at 29 percent.

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