NCLH swings to profit on new ships, but bookings fall below target amid geopolitical headwinds

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 5, 2025 · ~2 min read

Key Changes

• high

  Booking position fell below optimal range due to execution missteps and Middle East conflict impact on European summer demand, reversing prior year's healthy position within range.

  MD&A: Booking Position verify on EDGAR →
• high

  Net income swung from $40M loss to $105M profit on 9.6% revenue growth driven by Norwegian Luna delivery; Adjusted EBITDA up 17.6% to $533M.

  MD&A: Financial Results verify on EDGAR →
• high

  Unhedged euro debt jumped from €1.7B to €2.2B ($2.5B) after Luna delivery, exposing company to FX volatility; Q1 2026 saw $41M remeasurement gain as euro weakened.

  MD&A: Foreign Currency verify on EDGAR →