Flash FinanceUS
Pre-market S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Norwegian Cruise Line (NCLH)

Norwegian Cruise Line: 2025 revenue up 3.7%, GAAP profit down; Q1 yield to fall

Mixed Impact 4 of 5 earnings Written later

Norwegian Cruise Line Holdings reported fourth quarter and full year 2025 results on March 2, 2026. Full year revenue rose 3.7% to $9.8 billion and Adjusted EPS rose 19% to $2.11, but GAAP net income fell to $423.2 million from $910.3 million, and the company expects first quarter 2026 Net Yield to decline about 1.6% in constant currency. For shareholders, the filing sets a 2026 Adjusted EPS target of $2.38 and replaces prior long-term targets, while new CEO John W. Chidsey said execution and cross-functional alignment have fallen short.

Key points

  • Full year 2025 revenue was $9.8 billion, up 3.7%, and Adjusted EBITDA was $2.73 billion, up 11%.
  • GAAP net income was $423.2 million for 2025 versus $910.3 million in 2024; fourth quarter GAAP net income was $14.3 million versus $254.5 million.
  • First quarter 2026 Net Yield is expected to decline about 1.6% in constant currency; full year 2026 Adjusted EPS is expected to be $2.38.
  • John W. Chidsey was appointed President and Chief Executive Officer in February 2026.

The filing

CompanyNorwegian Cruise Line (NCLH)
Form8-K, current report
Filed with the SECMar 2, 2026, 6:45 AM ET
Accession number0001171843-26-001220

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 March 02, 2026.

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.