Norwegian Cruise Line Holdings reported its third-quarter 2025 results and reaffirmed its full-year guidance for 2025. For the third quarter of 2025, Norwegian reported record-breaking revenue figures of $2.9 billion, a significant 5% increase compared to the previous year. Earnings per share (EPS) came in at $0.86, coupled with an impressive adjusted EBITDA of $1.019 billion, surpassing earlier guidance.
MIAMI, Nov. 04, 2025 (GLOBE NEWSWIRE) — Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (together with NCL Corporation Ltd. (“NCLC”), “Norwegian Cruise Line Holdings”, “Norwegian”, “NCLH” or the “Company”) today reported financial results for the third quarter ended September 30, 2025, and provided guidance for the fourth quarter and full year 2025.
Highlights
- Achieved a quarterly record with total revenue of $2.9 billion in the third quarter, an increase of 5% versus third quarter of 2024. GAAP net income was $419.3 million, with EPS of $0.86.
- Delivered Adjusted EBITDA1 of $1.019 billion, exceeding guidance. Adjusted Net Income of $596 million was above guidance of $571 million. Adjusted EPS was $1.20, exceeding guidance of $1.14, and an increase of 17% versus third quarter of 2024.
- Company reiterates full year 2025 Adjusted Net Income and Adjusted EBITDA guidance while increasing Adjusted EPS guidance.
- Completed a series of strategic capital market transactions, reducing shares outstanding on a fully diluted basis by approximately 38.1 million, or ~7.5%, strengthening our capital structure by removing all secured notes, reducing interest expense and extending the debt maturity profile of the refinanced debt, while keeping Net Leverage essentially neutral.
- Launched loyalty status honoring program, enabling guests to have their loyalty status honored across all three of our cruise brands.
“We delivered another record-breaking quarter, with strong performance across all brands. These results highlight the strength of our business, the broad appeal of our multi-brand portfolio, and the outstanding execution by our teams both shoreside and shipboard,” said Harry Sommer, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “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 with Load Factor exceeding 2024 levels. In addition, Oceania Cruises and Regent Seven Seas Cruises continue to capitalize on sustained demand for luxury travel, supported by our strategy to elevate both brands firmly within the luxury and ultra-luxury space.”
