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Norwegian Cruise Line Holdings Ltd. NCLH Q2 2025 earnings

Reported July 31, 2025 · Before market open

Revenue$2.5BMiss by $497.9M
EPS$0.51Miss by $0.01
Revenue estimate$3.0B
EPS estimate$0.52

Next report

Jul 30, 2026 (Today)
Revenue estimate$2.6B
EPS estimate$0.39

Financials

Q2 2025

Income statement

See full
Revenue$2.5B+6.1%
Gross profit$1.1B+15.6%
Operating income$423.8M+24.1%
Net income$30.0M-81.6%
EPS (diluted)$0.07-80.0%

Balance sheet

See full
Cash & equivalents$184.0M-69.0%
Total debt$13.8B+2.4%
Total equity$1.6B+126%
Total assets$21.6B+7.4%

Cash flow

See full
Operating cash flow$714.9M+6.6%
CapEx$333.6M-2.1%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$8.67B+8.1%
Enterprise value$22.28B+6.6%
P/E12.1×—
P/S0.9×0.0×

Profitability

See full
Gross margin41.4%+3.5pp
Operating margin16%+2.7pp
Net margin7.5%—

Returns & leverage

See full
Return on equity63.6%—
Debt / equity8.8×-10.6×
Current ratio0.2×-0.1×

Segments

By geography

See full
North America$1.3B+9.8%
Europe$963.8M-8.6%
Asia Pacific$232.9M+96.5%
Other Country$29.8M+30.7%

By product

See full
Passenger$1.7B+6.7%
Onboard And Other$808.5M+4.9%

By segment

See full
Single Reportable$2.5B+6.1%

Versus estimates

Revenue

Q1 2026$2.3BMiss by $25.6MQ4 2025$2.2BMiss by $98.8MQ3 2025$2.9BBeat by $594.3M
Q2 2025$2.5BMiss by $497.9M
Q1 2025$2.1BMiss by $430.4MQ4 2024$2.1BMiss by $84.4M

Diluted EPS

Q1 2026$0.23Beat by $0.08Q4 2025$0.28Beat by $0.02Q3 2025$1.20Beat by $0.04
Q2 2025$0.51Miss by $0.01
Q1 2025$0.07Miss by $0.02Q4 2024$0.26Beat by $0.16

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Questions, answered.

When did Norwegian Cruise Line Holdings Ltd. report Q2 2025 earnings?
Norwegian Cruise Line Holdings Ltd. (NCLH) reported Q2 2025 earnings on July 31, 2025 before market open.
What were Norwegian Cruise Line Holdings Ltd.'s Q2 2025 revenue and EPS?
Norwegian Cruise Line Holdings Ltd. reported revenue of $2.5B and eps of $0.51 for Q2 2025.
Did Norwegian Cruise Line Holdings Ltd. beat estimates in Q2 2025?
Revenue missed the consensus estimate of $3.0B by $497.9M. EPS missed the consensus estimate of $0.52 by $0.01.
How did Norwegian Cruise Line Holdings Ltd.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.1% from $2.4B a year earlier and eps grew 27.5% from $0.40.
Where can I find Norwegian Cruise Line Holdings Ltd.'s Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001558370-25-010053) directly on SEC EDGAR. The filing index links above go to sec.gov.