Norwegian Cruise Line Shares Drop 9% After Revenue Miss and Weak 2026 Outlook

Core Viewpoint - Norwegian Cruise Line Holdings Ltd experienced a significant decline in share price due to fourth-quarter revenue falling short of Wall Street expectations and a weaker-than-expected guidance for 2026 [1] Group 1: Financial Performance - The company reported fourth-quarter revenue of $2.24 billion, which was below the analyst estimate of $2.35 billion [1] - Adjusted earnings per share for the quarter were $0.28, slightly exceeding the consensus forecast of $0.26 [1] - Net income for the fourth quarter totaled $14.3 million [1] Group 2: Future Guidance - For the first quarter of 2026, the company projected adjusted earnings per share of $0.16 and adjusted EBITDA of $515 million [2] - Full-year 2026 adjusted earnings per share are expected to reach $2.38 [2] - The company indicated it is entering 2026 slightly below its optimal booking range amid a pressured macro backdrop [2] Group 3: Cost Projections - For 2026, adjusted net cruise cost excluding fuel per capacity day is projected to increase by 0.9% on a constant currency basis [3] - In the first quarter of 2026, this metric is expected to decline by 0.8% on a constant currency basis [3]