Norwegian Cruise Line (NYSE:NCLH) Issues Quarterly Earnings Results

Norwegian Cruise Line (NYSE:NCLH) posted its earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07, Briefing.com reports. Norwegian Cruise Line had a return on equity of 47.84% and a net margin of 5.66%.The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Norwegian Cruise Line updated its Q3 2026 guidance to 0.900-0.900 EPS and its FY 2026 guidance to 1.500-1.500 EPS.

Here are the key takeaways from Norwegian Cruise Line’s conference call:

• Second-quarter results exceeded guidance: Revenue increased 5%, adjusted EBITDA reached $666 million, and adjusted EPS was $0.48. Unit costs declined 0.5% as cost controls offset weaker yields.
• The company lowered its outlook, expecting full-year net yields to decline approximately 5%, adjusted EBITDA of about $2.5 billion, and adjusted EPS of roughly $1.50. Third-quarter yields are projected to fall 8.9%, reflecting weak bookings, particularly on European itineraries affected by elevated airfare and macro pressures.
• Management identified an additional $100 million of annualized savings and cash benefits, bringing savings announced over the past two quarters to approximately $225 million. Further efficiencies are expected to support margins and free cash flow without reducing the guest experience.
• NCL is changing its revenue-management approach to “base loading,” using more competitive pricing earlier in the booking curve to rebuild demand and reduce close-in discounting. Benefits are expected to emerge gradually, with the first half of 2027 still pressured and improvement anticipated in the second half.
• The company expects new investments at Great Stirrup Cay, including the Great Tides Water Park, to expand paid experiences and improve the destination’s revenue potential. Fleet delivery is also set to moderate after 2027, with annual growth CapEx expected to decline by nearly $1 billion and support future deleveraging.

Norwegian Cruise Line Price Performance

Shares of NCLH traded down $0.17 during trading hours on Friday, hitting $18.55. 15,939,507 shares of the company were exchanged, compared to its average volume of 21,025,016. The company has a debt-to-equity ratio of 5.75, a current ratio of 0.21 and a quick ratio of 0.18. The company has a market capitalization of $8.51 billion, a PE ratio of 15.58, a PEG ratio of 1.23 and a beta of 1.87. The firm has a fifty day simple moving average of $19.40 and a 200-day simple moving average of $20.01. Norwegian Cruise Line has a one year low of $14.53 and a one year high of $27.18.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NCLH shares. Tigress Financial decreased their price objective on Norwegian Cruise Line from $38.00 to $32.00 and set a “strong-buy” rating for the company in a report on Friday, April 17th. Zacks Research upgraded shares of Norwegian Cruise Line from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Northcoast Research downgraded shares of Norwegian Cruise Line from a “buy” rating to a “neutral” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of Norwegian Cruise Line in a research report on Friday. Finally, TD Cowen boosted their price target on shares of Norwegian Cruise Line from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Norwegian Cruise Line currently has a consensus rating of “Hold” and an average target price of $21.20.

Insider Activity

In other news, Director Jonathan Z. Cohen acquired 30,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $15.83 per share, for a total transaction of $474,900.00. Following the transaction, the director owned 38,912 shares in the company, valued at approximately $615,976.96. This trade represents a 336.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zillah Byng-Thorne purchased 25,015 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $17.67 per share, for a total transaction of $442,015.05. Following the completion of the transaction, the director directly owned 99,811 shares of the company’s stock, valued at $1,763,660.37. This trade represents a 33.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 1,592,467 shares of company stock worth $28,493,204. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Norwegian Cruise Line by 1,505.9% in the fourth quarter. AQR Capital Management LLC now owns 6,793,256 shares of the company’s stock valued at $151,625,000 after acquiring an additional 6,370,241 shares during the last quarter. Freestone Grove Partners LP boosted its holdings in Norwegian Cruise Line by 338.8% in the 3rd quarter. Freestone Grove Partners LP now owns 3,690,333 shares of the company’s stock valued at $90,893,000 after purchasing an additional 2,849,349 shares during the period. Morgan Stanley grew its position in Norwegian Cruise Line by 43.6% in the 4th quarter. Morgan Stanley now owns 8,520,548 shares of the company’s stock worth $190,179,000 after purchasing an additional 2,586,395 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Norwegian Cruise Line by 626.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,771,061 shares of the company’s stock worth $68,251,000 after purchasing an additional 2,389,540 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Norwegian Cruise Line during the 3rd quarter worth about $58,404,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Key Norwegian Cruise Line News

Here are the key news stories impacting Norwegian Cruise Line this week:

• Positive Sentiment: NCLH reported second-quarter adjusted earnings of $0.48 per share, above the $0.41 consensus estimate, while revenue increased 4.9% year over year to $2.64 billion. Strong onboard spending, higher capacity and cost controls supported the results. Norwegian Cruise Line Holdings Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management identified an additional $100 million in cost savings, with more reductions potentially available. The company is also redesigning pricing and marketing to improve demand and competitiveness. NCLH Finds Another $100 Million in Cost Savings
• Positive Sentiment: Wells Fargo maintained an “overweight” rating with a $22 price target, and Stifel retained a “buy” rating with a $25 target, implying substantial potential upside from recent trading levels. Analyst Price Targets

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages.

Founded in 1966 by Knut Kloster and Ted Arison, the company pioneered the concept of “Freestyle Cruising,” which allows passengers greater flexibility in dining schedules, entertainment choices and onboard activities.