NCLH Q1 revenue rises 10% to $2.3 billion, but full-year 2026 guidance is cut
Norwegian Cruise Line Holdings reported first-quarter 2026 revenue up 10% to $2.3 billion, GAAP net income of $104.7 million versus a $40.3 million loss a year earlier, and Adjusted EBITDA up 18% to $533 million. The company lowered its full-year 2026 guidance, with Adjusted EPS now expected at $1.45 to $1.79, citing Middle East disruptions, higher fuel expense and softer bookings.
Key points
- Q1 2026 total revenue $2.3 billion, up 10% from Q1 2025, with GAAP net income of $104.7 million versus a $(40.3) million loss in the prior year
- Q1 2026 Adjusted EBITDA $533 million, up 18% from $453 million, and Adjusted EPS $0.23, exceeding company guidance of about $0.16
- Full-year 2026 Adjusted EBITDA guidance $2.48 billion to $2.64 billion; Adjusted EPS guidance $1.45 to $1.79
- As of March 31, 2026, total debt $15.2 billion, Net Leverage 5.3x and liquidity $1.6 billion
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits 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 May 04, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.