Overview
- Norwegian Cruise Line, which reported first‑quarter results on Monday, trimmed its full‑year adjusted EPS to $1.45–$1.79 and set adjusted EBITDA at $2.48–$2.64 billion.
- Management cited higher fuel tied to Middle East disruptions and softer demand for European itineraries, and said it started 2026 behind its booking curve after execution missteps.
- Shares fell roughly 6% to 9% in early trading after the guidance cut as the company now expects net yields, a measure of revenue per available cruise day, to decline about 3% to 5% this year.
- The company began a shoreside restructuring targeting about $125 million in annual SG&A savings and disclosed fuel hedges covering about 51% of 2026 at a blended $534 per metric ton, with a projected net fuel cost of about $782 per metric ton.
- Quarterly results were mixed as adjusted EPS of $0.23 topped forecasts and revenue of about $2.33 billion slightly missed estimates, with adjusted EBITDA at $533 million and occupancy near 104%.