Norwegian Cruise Line Holdings Ltd

NCLH: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Norwegian Earnings: Demand Trajectory Slowly Improving With Operational Improvement Efforts

Jaime M Katz

Oct 29, 2026

Norwegian reported third-quarter declines of 6.5% in yield and 2.2% in net cruise cost, ex-fuel, with adjusted EPS of $1.12, $0.22 above guidance. The firm lifted its 2026 outlook to a decline in yield of 4%, decline in costs ex-fuel of 0.1%, and EPS of $1.70 (from down 4.7%, flat and $1.50 prior).

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Norwegian Cruise Line Holdings Ltd

Norwegian Earnings: Demand Trajectory Slowly Improving With Operational Improvement Efforts

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