Filing Flows › Norwegian Cruise Line Holdings (NCLH) › Guidance history
Norwegian Cruise Line Holdings (NCLH) guidance history: what it guided and what it reported
Norwegian Cruise Line Holdings gave guidance in 12 earnings releases on file since Feb 27, 2024. Its releases raised guidance 6 times and lowered it 5 times.
Adjusted net income
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q2 2026 | $178M (May 4, 2026) | — | — | — |
| Q1 2026 | $77.0M (Mar 2, 2026) | — | — | — |
| FY2026 | $1.1B (Mar 2, 2026) → lowered $679M–$838M (May 4, 2026) → lowered $700M (Jul 30, 2026) → raised $789M (Oct 29, 2026) | — | to be reported | — |
| Q3 2025 | $571M (Jul 31, 2025) | — | — | — |
| FY2025 | $1.1B (Feb 27, 2025) → lowered $1.0B (Apr 30, 2025) → reaffirmed $1.0B (Jul 31, 2025) → reaffirmed $1.0B (Nov 4, 2025) | — | — | — |
| Q3 2024 | $475M (Jul 31, 2024) | — | — | — |
| FY2024 | $635M (Feb 27, 2024) | — | — | — |
Depreciation & amortization
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q2 2026 | $275M (May 4, 2026) | — | — | — |
| FY2026 | $1.1B (Mar 2, 2026) → reaffirmed $1.1B (May 4, 2026) → lowered $275M (Jul 30, 2026) → raised $280M (Oct 29, 2026) | — | to be reported | — |
| Q1 2026 | $260M (Mar 2, 2026) | — | — | — |
| Q4 2025 | $259M (Nov 4, 2025) | — | — | — |
| Q3 2025 | $252M (Jul 31, 2025) | — | — | — |
| Q2 2025 | $245M (Apr 30, 2025) | — | — | — |
| FY2025 | $985M (Feb 27, 2025) → reaffirmed $985M (Apr 30, 2025) → reaffirmed $985M (Jul 31, 2025) → reaffirmed $985M (Nov 4, 2025) | — | — | — |
| Q1 2025 | $230M (Feb 27, 2025) | — | — | — |
| Q4 2024 | $230M (Oct 31, 2024) | — | — | — |
| Q3 2024 | $225M (Jul 31, 2024) | — | — | — |
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2024 | $475M (Feb 27, 2024) → raised $575M (May 1, 2024) → reaffirmed $575M (Jul 31, 2024) → reaffirmed $575M (Oct 31, 2024) | $1.2B (GAAP) | not judged | — |
Interest expense
Every guided period is still to be reported.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $180M (Jul 30, 2026) → raised $188M (Oct 29, 2026) | — | to be reported | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $1.00 (Oct 29, 2026) | — | to be reported | — |
| Q2 2026 | $4.00 (May 4, 2026) | — | — | — |
| Q1 2026 | $4.00 (Mar 2, 2026) | — | — | — |
| Q4 2025 | $4.00 (Nov 4, 2025) | — | — | — |
| Q3 2025 | $4.00 (Jul 31, 2025) | — | — | — |
| FY2025 | $2.05 (Feb 27, 2025) → reaffirmed $2.05 (Apr 30, 2025) → reaffirmed $2.05 (Jul 31, 2025) → raised $2.10 (Nov 4, 2025) | — | — | — |
| FY2026 | $2.05 (Feb 27, 2025) → raised $2.38 (Mar 2, 2026) → lowered $1.45–$1.79 (May 4, 2026) → lowered $1.50 (Jul 30, 2026) → raised $1.70 (Oct 29, 2026) | — | to be reported | — |
| Q2 2024 | $2.00 (May 1, 2024) | — | — | — |
| FY2024 | $0.70 (Feb 27, 2024) → lowered $0.09 (May 1, 2024) → raised $0.11–$1.53 (Jul 31, 2024) → raised $0.12–$1.65 (Oct 31, 2024) | — | — | — |
Adjusted EBITDA
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $414M (Oct 29, 2026) | — | to be reported | — |
| Q3 2026 | $874M (Jul 30, 2026) | — | — | — |
| Q2 2026 | $632M (May 4, 2026) | — | — | — |
| Q1 2026 | $515M (Mar 2, 2026) | — | — | — |
| FY2026 | $2.5B (Mar 2, 2026) → lowered $453M (May 4, 2026) → raised $2.5B (Jul 30, 2026) → raised $2.5B (Oct 29, 2026) | — | to be reported | — |
| Q4 2025 | $555M (Nov 4, 2025) | — | — | — |
| Q3 2025 | $1.0B (Jul 31, 2025) | — | — | — |
| Q2 2025 | $670M (Apr 30, 2025) | — | — | — |
| Q1 2025 | $435M (Feb 27, 2025) | — | — | — |
| FY2025 | $2.7B (Feb 27, 2025) → reaffirmed $2.7B (Apr 30, 2025) → reaffirmed $2.7B (Jul 31, 2025) → reaffirmed $2.7B (Nov 4, 2025) | — | — | — |
The latest quarter
Norwegian Cruise Line Holdings, Q3 2026: revenue $2.9B (+0.3% year over year), operating margin 21.2%, net earnings $491M, operating cash flow $292M. The chart follows the revenue to costs, profit and cash.
Questions
Does Norwegian Cruise Line Holdings beat its guidance?
Norwegian Cruise Line Holdings gave guidance in 12 earnings releases on file since Feb 27, 2024. Its releases raised guidance 6 times and lowered it 5 times.
How often does Norwegian Cruise Line Holdings raise guidance?
Its earnings releases raised guidance 6 times and lowered it 5 times since Feb 27, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.