by Sarah Kuta
Last updated: 9:50 AM ET, Mon March 2, 2026
On the heels of a major leadership change and investor criticism, Norwegian Cruise Line Holdings has reported its fourth-quarter and full-year 2025 financial results.
Though the results were “solid,” new president and chief executive officer John W. Chidsey noted that the company has work to do to improve.
“My initial assessment is that our strategy is sound, but execution and cross-functional alignment have fallen short,” he said. “Our priority is to act urgently to address these gaps by improving coordination, reinforcing accountability and strengthening financial discipline across the organization."
"The good news is that we have strong assets and have recently enhanced our leadership team with the right combination of new and tenured talent," Chidsey continued. "Now, with a clear focus and necessary rigor, I am confident in our ability to create sustainable long-term value."
Fourth‑quarter revenue was $2.24 billion, missing expectations of $2.35 billion, while adjusted profit of 28 cents per share beat forecasts of 26 cents.
Looking ahead for 2026, NCLH is also forecasting annual profit below expectations, with new bookings slowing down amid economic uncertainty and rising geopolitical tensions. The company said it is entering 2026 against a “pressured” backdrop, with “certain execution missteps” hurting bookings.
Norwegian expects 2026 adjusted profit of $2.38 per share and forecasts flat annual net yield.
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