Norwegian Cruise Line Holdings (NYSE:NCLH) reported third-quarter 2026 earnings and revenue above analysts’ expectations, raising its full-year financial guidance as shares advanced 5.5% in premarket trading.
The cruise operator posted adjusted earnings per share of $1.12, exceeding the consensus estimate of $0.94. Revenue totaled $2.9 billion, above analysts’ forecast of $2.88 billion, compared with $2.94 billion in the corresponding period last year.
The company attributed its quarterly performance to higher-than-expected demand for bookings close to departure dates, onboard spending and cost management.
Norwegian Cruise Line reported adjusted EBITDA of $937 million for the third quarter, exceeding its guidance of $874 million by $63 million.
Net Yield, a measure of revenue performance relative to available passenger cruise capacity, declined 6.7% on a constant currency basis.
The decrease was approximately 220 basis points smaller than the 8.9% decline previously anticipated by the company.
Chief Executive Officer John W. Chidsey commented:
“We delivered third quarter results that came in above guidance, all while continuing to strengthen our commercial capabilities, improve operating efficiency and enhance the guest experience.”
He added:
“As we implement the next phase of our turnaround, we are focused on sharpening Norwegian Cruise Line’s brand positioning, improving marketing effectiveness and taking a more disciplined approach to revenue management.”
Following the third-quarter results, Norwegian Cruise Line increased its financial outlook for 2026.
The company now expects adjusted EBITDA of approximately $2.55 billion and adjusted earnings per share of approximately $1.70.
For the fourth quarter, Norwegian forecasts adjusted EBITDA of $414 million and an adjusted loss of approximately $0.12 per share.
The updated annual guidance reflects the company’s reported performance during the first nine months of 2026 and its expectations for the remainder of the year.
Looking ahead to 2027, Norwegian Cruise Line expects Net Yield to increase between 1% and 2% for the full year, with the company anticipating faster growth during the second half.
Norwegian also announced approximately $100 million in additional annualized savings associated with optimizing air travel arrangements for guests and crew.
The savings initiative forms part of the company’s ongoing cost management and operational efficiency measures.
Norwegian Cruise Line also announced a change to its senior management team.
Meghan Montana, currently Chief Strategy Officer, will become Chief Financial Officer effective January 1, 2027.
She will succeed Mark A. Kempa in the position.
The appointment was announced alongside the company’s third-quarter results and revised financial outlook.
Norwegian Cruise Line shares gained 5.5% in premarket trading following the release, as investors assessed the earnings performance, updated guidance and expectations for 2027.
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