by Sarah Kuta
Last updated: 8:30 AM ET, Thu October 29, 2026
Norwegian Cruise Line Holdings reported higher third-quarter profit and raised its full-year earnings outlook as the company moves into the next phase of its turnaround, focusing on stronger demand, pricing and more disciplined revenue management.
The company, which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises, posted net income of $491.5 million, or $1.07 per share, compared with $419.3 million, or 86 cents per share, a year earlier. Adjusted earnings reached $1.12 per share, beating analysts’ expectations of 93 cents.
Revenue rose to $2.95 billion from a year earlier, topping analysts’ expectations of $2.88 billion. Stronger-than-expected onboard spending and bookings made closer to departure helped support the results, while cost discipline contributed to lower-than-expected unit costs.
Looking ahead, Norwegian expects full-year adjusted earnings of approximately $1.70 per share. The company also forecast full-year net yield growth of 1% to 2%, with a meaningful acceleration in the second half of 2027.
The company said pricing for the first half of 2027 is ahead of levels at the same point last year, although bookings remain below the prior-year position. For the second half, pricing is ahead and bookings are in line with the same period last year.
Norwegian said its booked position for the next 12 months has improved modestly since its previous earnings report but remains below its optimal range. The company expects recent enhancements at its private island, Great Stirrup Cay in the Bahamas, including the newly opened Great Tides Waterpark, to help drive demand. It is also preparing to roll out a new marketing platform and improve revenue management, including a base-loading strategy for 2027 and 2028 sailings.
In a separate announcement, Norwegian named Meghan Montana, currently its chief strategy officer, as chief financial officer, effective January 1, 2027. She will succeed Mark Kempa, who is stepping down after more than 25 years with the company.
“Mark has been a stalwart leader for Norwegian since 1999, guiding the business through our IPO and the acquisition of Oceania Cruises and Regent Seven Seas Cruises,” said John W. Chidsey, chief executive officer of Norwegian Cruise Line Holdings Ltd. “His financial leadership was instrumental in ensuring the Company’s survival during the COVID-19 pandemic. Most recently, he led significant cost savings initiatives across our shipboard and shoreside operations.”
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