Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) shares fell Monday after the company reported fourth-quarter results that topped earnings expectations but missed on revenue and included a cut to its full-year 2026 adjusted profit outlook.
Fourth-Quarter Results
Fourth-quarter total revenue was $2.244 billion, up 6% from $2.109 billion a year earlier, but below the $2.347 billion analyst estimate. GAAP net income was $14.3 million, with GAAP EPS of 3 cents.
That compares with GAAP net income of $254.5 million and GAAP EPS of 52 cents in the prior-year quarter.
Adjusted EBITDA rose 20% to $564 million, exceeding company guidance of $555 million. Adjusted EPS increased to 28 cents from 19 cents and beat the 26-cent analyst estimate.
Full-Year 2025 Performance
For the full year, total revenue rose 3.7% to $9.8 billion. GAAP net income was $423.2 million, with GAAP EPS of 92 cents.
That compares with GAAP net income of $910.3 million in 2024.
Adjusted EBITDA increased 11% to $2.73 billion, exceeding guidance of $2.72 billion. Adjusted Net Income grew 15% to $1.045 billion, and Adjusted EPS increased 19% to $2.11, exceeding guidance of $2.10.
Operational Metrics
Passengers carried totaled 2,997,829 …