Filing Flows › Norwegian Cruise Line Holdings (NCLH) › Q1 2025
Norwegian Cruise Line Holdings (NCLH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Norwegian Cruise Line Holdings (NCLH) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), -3% from a year earlier and +0.9% from the quarter before. Operating margin was 9.4%, net loss $40.3M (1.9% of revenue).
Norwegian Cruise Line Holdings, Q1 2025: revenue $2.1B (-3% year over year), operating margin 9.4%, net loss $40.3M, operating cash flow $679M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +0.9% | -3% |
| Operating profit | $201M | — | — |
| Net earnings | −$40.3M | — | — |
| Operating cash flow | $679M | +70% | -16% |
What changed
Revenue was $2.1B in Q1 2025, down 3% year over year and up 1% from the previous quarter. Passenger ticket was the largest line at 67% of revenue. Passenger ticket lost $0.04B year over year (down 3%), 65% of the total change.
Operating profit was $0.20B, a 9.4% margin (down 0.5 points year over year). Total costs fell 2% while revenue fell 3%. The quarter ended with a net loss of $0.04B, after a profit of $0.25B the previous quarter. Net interest and other expense of $0.24B was the main reason.
Operating cash flow was $0.68B (down 16% year over year). Non-cash charges added back $0.25B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.45B. Capital expenditures of $1.5B exceeded it, leaving free cash flow of −$0.85B.
Questions
What was Norwegian Cruise Line Holdings' revenue in the first quarter 2025?
Norwegian Cruise Line Holdings (NCLH) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), -3% from a year earlier and +0.9% from the quarter before.
Was Norwegian Cruise Line Holdings profitable in the first quarter 2025?
Operating profit was $201M (9.4% of revenue) and net loss $40.3M.