Norwegian Cruise Line reports record Q2 revenue of $2.5 billion; GAAP profit falls
Norwegian Cruise Line Holdings reported second quarter 2025 revenue of $2.5 billion, up 6% from a year earlier, and beat its Adjusted EBITDA guidance. GAAP net income fell to $30.0 million, a decline of $133.4 million year over year, mainly due to foreign exchange losses of $158.5 million. The company reiterated its full year 2025 guidance, though its net yield and cost guidance were updated, and the Revolving Loan Facility was upsized to about $2.5 billion.
Key points
- Q2 2025 total revenue of $2.5 billion, up 6% from Q2 2024; GAAP net income $30.0 million, EPS $0.07
- Adjusted EBITDA of $694 million versus $670 million guidance; Adjusted EPS of $0.51, in line with guidance
- Full year 2025 guidance reiterated: Adjusted EBITDA about $2.72 billion and Adjusted EPS $2.05
- Revolving Loan Facility upsized from $1.7 billion to about $2.5 billion; Net Leverage 5.3x at June 30, 2025
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.