Norwegian Cruise Line Holdings raised its 2026 earnings guidance Thursday, Oct. 29, after adjusted third-quarter results exceeded company targets, increasing its full-year profit estimates while it continued to project lower net yield this year.
The company now expects full-year adjusted EBITDA of about $2.55 billion and adjusted earnings per share of about $1.70. It still projects net yield on a constant-currency basis to decline about 4.4% from 2025. The guidance change covers adjusted earnings measures; the release also provides separate GAAP results for the quarter.
For the quarter ended Sept. 30, adjusted EBITDA reached $937 million, $63 million above the company’s $874 million guidance. Adjusted earnings per share came to $1.12, 22 cents above the $0.90 company target.
Revenue totaled $2.9 billion. GAAP net income was $491 million, and GAAP earnings per share was $1.07.
Norwegian said bookings made nearer to sailing and passenger spending on board contributed to the quarter. It also said expense controls kept unit costs below its expectations.
For the fourth quarter, the company expects adjusted EBITDA of $414 million and net yield on a constant-currency basis to be about 6.5% below the same period a year earlier. The forecast covers the final quarter of 2026.
For 2027, Norwegian forecasts net yield growth of 1% to 2%, with growth accelerating in the year's second half. Its outlook places an expected yield decline in 2026 before a return to growth in 2027, while projecting a larger year-over-year drop for the fourth quarter than for 2026 as a whole.
Norwegian furnished the release as Exhibit 99.1 to its Form 8-K. The Securities and Exchange Commission filing index records the filing on Oct. 29 and lists Items 2.02, Results of Operations and Financial Condition, and 9.01, Financial Statements and Exhibits.
