Revenues miss forecasts at Norwegian Cruise Line, shares fall
By Abigail Townsend
Date: Tuesday 04 Nov 2025
(Sharecast News) - Shares in Norwegian Cruise Line Holdings sank on Tuesday, despite what it called a "record" quarter, after revenues narrowly missed forecasts.
The Miami-based business posted revenues of $2.94bn in the three months to September end, up nearly 5%. Analysts, however, had been looking a larger increase, to around $3.02bn.
NCLH said it had seen strong demand during the quarter, but that had been partially offset by lower air programme participation.
Net income fell to $419.3m from $474.9m, while adjusted earnings before interest, tax, depreciation and amortisation rose 9% to $1.02bn. Net debt stood at $14.5bn at the end of the period.
As at 1400 GMT, the Wall Street stock had lost 10% in pre-market trading.
However, Harry Sommer, chief executive, struck an upbeat note.
He said: "We delivered another record-breaking quarter, with strong performance across all brands.
"As we move into the fourth quarter, we are seeing the benefits of our strategic focus on Caribbean itineraries, which are attracting more families to the Norwegian brand, and we expect this to continue into 2026."
Looking to the full year, NCLH reaffirmed guidance for both adjusted EBITDA and adjusted net income, of $2.72bn and $1.045bn respectively.
NCLH currently has 34 ships with more than 71,000 berths, operating under the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. It currently sails to around 700 destinations worldwide.
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