Norwegian Cruise Line Holdings lifts third-quarter guidance
Better than expected revenue performance prompted the revision, while the company also announced a $750m senior notes offering.
Norwegian Cruise Line Holdings said its third-quarter performance is expected to surpass its prior forecast, supported by revenue results that were better than anticipated. The company did not disclose specific updated guidance for the quarter.
In late June, NCLH forecast third-quarter adjusted earnings per share of 90 cents and adjusted EBITDA of $874m. It also reaffirmed full-year 2026 earnings per share guidance of approximately $1.50.
Separately, NCLH announced a private offering of $750m in senior notes due 2031. According to the company, the notes are being offered only to qualified institutional investors outside the US.
NCLH plans to combine the proceeds with cash on hand to redeem all outstanding 6.125% senior notes due 2028. It also intends to repay approximately $176.3m borrowed through its senior secured revolving loan facility and prepay approximately $42.2m under its export credit-backed financing facilities.
The company said redemption of the 2028 notes is conditional on completion of the offering. After adjusting for the transactions, NCLH expects 2027 net interest expense of between $860m and $880m.
