Core Insights - Oceania Cruises is set to launch its 2026 Specialty Cruises featuring renowned culinary figures such as Claudine Pépin and Sara Moulton, enhancing the travel experience with culinary demonstrations and exclusive events [1][2][3][4][5]. Group 1: Specialty Cruises Overview - The 2026 Specialty Cruises will focus on immersive travel experiences, combining exceptional cuisine with cultural exploration across destinations like Alaska, the Mediterranean, and the British Isles [2]. - Each cruise will include enriching onboard experiences such as cooking demonstrations, guest speaker sessions, and exclusive chef-hosted dinners [2]. Group 2: Featured Cruises - The Sara Moulton Cruise will span 12 days from Lisbon to Paris, departing on May 12, 2026, and will include culinary experiences curated by Moulton [3]. - The Claudine Pépin Cruise will also last 12 days, departing from Seattle on July 2, 2026, featuring exclusive onboard experiences with Pépin [4]. - The Culinary Luminaries Cruise will take place over 10 days from Belfast to Lisbon, starting September 15, 2026, hosted by Master Chefs of France, offering culinary adventures and vineyard tours [5]. - The Oceania Club™ Reunion Cruise will be a 10-day journey from Barcelona to Rome, beginning November 5, 2026, featuring exclusive events and curated shore excursions [6]. Group 3: Company Background - Oceania Cruises is recognized as the world's leading culinary- and destination-focused cruise line, operating eight luxurious ships with a maximum capacity of 1,250 guests [8]. - The company offers destination-rich itineraries that cover over 600 ports in more than 100 countries, with voyages ranging from seven days to over 200 days [8]. - Oceania Cruises is a subsidiary of Norwegian Cruise Line Holdings Ltd., with two additional ships scheduled for delivery in 2027 and 2028 [9].

Core Insights - Norwegian Cruise Line (NCLH) shares have declined over 31% year-to-date due to the macroeconomic environment [1] - The company reaffirmed its full-year guidance despite missing earnings expectations and warning of softer consumer demand [1] Company Performance - NCLH's recent earnings release indicated a commitment to its full-year guidance [1] - The company is facing challenges related to consumer demand, which may impact future performance [1] Market Context - The decline in NCLH shares reflects broader macroeconomic trends affecting the cruise industry [1]

Core Viewpoint - Norwegian Cruise Line's stock has experienced a significant decline of 33% year-to-date, contrasting with the S&P 500's minor drop of 0.6%, indicating a broader downturn in the cruise sector [1] Financial Performance - Norwegian Cruise Line reported mixed Q1 results with an adjusted EPS of $0.07, below the consensus estimate of $0.09, and revenue of $2.13 billion, slightly under the forecast of $2.15 billion. The GAAP net loss was $40.3 million [2] - The occupancy rate was 101.5%, meeting guidance but showing a year-over-year decline due to increased dry-dock activities. Despite some "softening" in forward bookings, advance ticket sales rose 2.6% year-over-year to $3.9 billion, indicating ongoing demand [2] Valuation Comparison - NCLH stock appears inexpensive relative to the broader market, with a price-to-sales (P/S) ratio of 0.8 compared to 2.8 for the S&P 500, a price-to-free cash flow (P/FCF) ratio of 3.9 against 17.6 for the S&P 500, and a price-to-earnings (P/E) ratio of 10.5 compared to 24.5 for the benchmark [4][7] Revenue Growth - Norwegian Cruise Line's revenues increased by 10.9% from $8.5 billion to $9.5 billion over the past 12 months, while quarterly revenues dipped 3% to $2.1 billion compared to $2.2 billion a year earlier [5] Profitability Metrics - The company's operating income over the last four quarters was $1.5 billion, resulting in an operating margin of 15.5%, which is higher than the S&P 500's 13.1%. The operating cash flow during this period was $2.0 billion, indicating an OCF margin of 21.6% compared to 15.7% for the S&P 500 [6] Financial Stability - Norwegian Cruise Line's balance sheet is characterized as very weak, with total debt of $13 billion against a market capitalization of $7.6 billion, leading to a poor debt-to-equity ratio of 163.6% compared to 21.5% for the S&P 500. Cash and cash equivalents amount to $185 million of $21 billion in total assets, resulting in a cash-to-assets ratio of 1.0% versus 15.0% for the S&P 500 [9][8] Downturn Resilience - NCLH stock has historically performed worse than the S&P 500 during downturns, with a decline of 69.2% from a peak of $33.71 in June 2021 to $10.38 in June 2022, compared to a 25.4% decline for the S&P 500. During the COVID-19 pandemic, the stock fell 87.0% from a high of $59.65 in January 2020 to $7.77 in March 2020, while the S&P 500 saw a decline of 33.9% [10][11] Overall Assessment - The overall assessment of Norwegian Cruise Line indicates very weak operating performance and financial condition, with growth rated as very strong, profitability as neutral, financial stability as extremely weak, and downturn resilience as extremely weak [12][14]

Core Insights - Oceania Cruises offers over 40 holiday voyages, including the new ship Oceania Allura™, allowing guests to celebrate the festive season in various global destinations [1][3] - The holiday experience on Oceania Cruises is designed to provide a luxurious escape with reimagined festive traditions, including Christmas carolers, evening entertainment, and special celebrations for Hanukkah [2][3] Holiday Voyage Offerings - The holiday voyages range from 7 to 197 days, catering to different schedules and adventure levels, with options including Caribbean New Year's voyages and extensive journeys across continents [3][4] - Highlighted voyages for the 2025-2026 season include: - **Indian Ocean Opus**: 24 days from Cape Town to Singapore, departing December 2, 2025 [5] - **South Pacific Archipelagos**: 19 days from Sydney to Papeete, departing December 10, 2025 [6] - **Outrigger's Route to Bali**: 24 days from Papeete to Bali, departing December 17, 2025 [7] - **Yachting Treasures**: 10 days from Miami to Miami, departing December 19, 2025 [8] - **Antarctic Triumph**: 20 days from Santiago de Chile to Buenos Aires, departing December 21, 2025 [9] - **Holiday Havens**: 14 days from Miami to Miami aboard Oceania Allura, departing December 21, 2025 [10][11] Grand Voyages - The 2025-2026 Grand Voyages include: - **Iberian & Island Dreams**: 25 days from Barcelona to Miami, departing December 2, 2025 [12] - **Spanning the Americas**: 77 days from Los Angeles to San Diego, departing December 20, 2025 [13] - The 2026-2027 Grand Voyages feature: - **Ramblas to Renaissance**: 26 days from Barcelona to Rome, departing December 9, 2026 [17] - **Corals & Kiwi Coasts**: 40 days from Sydney to Auckland, departing December 15, 2026 [18] Additional Offerings - Oceania Cruises' "Your World Included™" program enhances the luxury cruise experience with amenities such as gourmet dining, unlimited WiFi, and fitness classes [19] - The company operates eight small luxurious ships, accommodating a maximum of 1,250 guests, and offers destination-rich itineraries across more than 600 ports globally [21]

Core Insights - Norwegian Cruise Line Holdings Ltd. appointed Linda P. Jojo as an independent director, effective May 7, 2025, increasing the Board size to nine members, with eight being independent [1] - Ms. Jojo has over 30 years of leadership experience in IT, cybersecurity, and customer experience, previously serving as Executive Vice President and Chief Customer Officer at United Airlines [2] - The appointment is aimed at enhancing the Board's expertise in technology and customer solutions, aligning with NCLH's digital innovation and growth strategies [3] Company Overview - Norwegian Cruise Line Holdings Ltd. operates three brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, with a fleet of 33 ships and approximately 70,050 berths [4] - The company plans to add 12 additional ships by 2036, which will increase its fleet capacity by over 37,500 berths [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35784 NORWEGIAN CRUISE LINE HOLDINGS LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0 ...

Revenue for the first quarter came in just shy of expectations at $2.13 billion versus estimates of $2.15 billion, according to average estimates compiled by LSEG, and earnings per share were 7 cents adjusted versus a 9 cents expectation."It was actually booking really, really well till about a month or two ago. And then the American consumer seemed to be a little skittish about doing far-from-home travel," CEO Harry Sommer told CNBC Wednesday.For instance, Norwegian Cruise Line Holdings reports some "chopp ...

Norwegian Cruise Line Holdings Ltd. (NCLH) reported first-quarter 2025 results, with earnings and revenues missing the Zacks Consensus Estimate. Both top and bottom lines decreased on a year-over-year basis. Following the results, the company’s shares declined 8.5% in today’s pre-market trading session.Results in the quarter were hurt by a 2% decline in Capacity Days, stemming from a higher number of Berths out of service due to larger ships undergoing dry-dock, as well as a strategic move to reduce passeng ...

Core Insights - Oceania Cruises is launching a comprehensive revamp of its onboard entertainment program across its fleet, with many new experiences debuting on Oceania Allura™ in July 2025 [1][5] Group 1: New Entertainment Offerings - The Blue Horizons Party will be introduced fleetwide, designed to inspire connection and joy among guests [2][6] - The entertainment program includes four categories: Enrich, Entertain, Unwind, and Celebrate, each offering unique experiences [3][4] Group 2: Wellness and Enrichment - Oceania Cruises emphasizes wellness with new guided stretch and yoga sessions tailored to all fitness levels, complementing its wellness brand Aquamar® [7] - The entertainment offerings will include a guest speaker series and creative workshops, enhancing the overall guest experience [8] Group 3: Company Overview - Oceania Cruises operates eight small luxury ships, accommodating a maximum of 1,250 guests, and offers destination-rich itineraries across more than 600 ports globally [10] - The company is a subsidiary of Norwegian Cruise Line Holdings Ltd. and has two additional ships scheduled for delivery in 2027 and 2028 or 2029 [10][11]

Norwegian Cruise Line (NCLH) came out with quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.22%. A quarter ago, it was expected that this cruise operator would post earnings of $0.11 per share when it actually produced earnings of $0.26, delivering a surprise of 136.36%.Over the last four quarte ...