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How Norwegian Cruise Line Holdings (NCLH) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · quarter ended 06/30/2026 · reported 07/30/2026
Norwegian Cruise Line Holdings Ltd. (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. · Text: Wikipedia, CC BY-SA 4.0, abridged
More about the company
It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
Key growth driver: Onboard and other — the fastest-growing revenue line: $911, +13% y/y. · by the Q2 2026 report
How does Norwegian Cruise Line Holdings make money?
Norwegian Cruise Line Holdings brought in $2.64 billion of revenue in Q2 2026, up 4.9% year over year. The largest source was Passenger ticket: $1.73 billion, or 65% of the total, followed by Onboard and other ($911M, 34%). Net income for the quarter was $223 million, up 642% year over year.
Revenue by source, Q2 2026
- Passenger ticket$1.73B · 65% · +1.2%
- Onboard and other$911M · 34% · +12.6%
Shares of $2.64B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is NCLH’s next earnings date?
Tuesday, November 3, 2026estimated
Expected around Nov 3 — based on last year’s report on Nov 4, 2025. We have not yet seen the company's announcement of the date.
How we estimate
The estimate is the date of the same-quarter report a year ago, per the company’s SEC filing, moved forward 52 weeks (same weekday). Companies usually keep the same week; the date will be replaced once NCLH announces it.
Same quarter a year ago (ended September 30, 2025): revenue $2.94B, EPS (GAAP) $0.86
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
What time does NCLH report? Usually before market open: the last 4 results releases reached the SEC at 6:50 am, 6:50 am, 6:45 am, 4:20 pm ET.
Last report: Jul 30, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates: company announcements; past dates and times — SEC 8-K filings. Who else reports this week →
All figures in $M.
Revenue
$2,641
+4.9%
Operating income
$363
−14.3%
13.8% margin
Net income
$223
+642%
$463932441.00/sh · 8.4% margin
Verdict: revenue grew 4.9% y/y to $2.64B, operating margin 13.8% vs 16.8%, net income $223M (+642.0% y/y).
The company now expects full year 2026 Adjusted EPS to be approximately $1.50.
Source and notation
Source: Norwegian Cruise Line press release, 8-K EX-99.1 of 07/30/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
NCLH earnings history: past report dates
| Jul 30, 2026 Thu | 6:50 ambefore market open | Jun 30, 2026 | $2.6B+5% y/y | $0.48+586% y/y |
| May 4, 2026 Mon | 6:50 ambefore market open | Mar 31, 2026 | $2.3B+10% y/y | $0.23 |
| Feb 12, 2026 Thu | 4:20 pmafter market close | Dec 31, 2025 | ≈$2.2B | ≈$0.08−85% y/y |
| Nov 4, 2025 Tue | 7:00 ambefore market open | Sep 30, 2025 | $2.9B | $0.86−9% y/y |
| Jul 31, 2025 Thu | 7:16 ambefore market open | Jun 30, 2025 | $2.5B | $0.07−80% y/y |
| Apr 30, 2025 Wed | 7:00 ambefore market open | Mar 31, 2025 | $2.1B | −$0.09 |
| Feb 27, 2025 Thu | 7:30 ambefore market open | Dec 31, 2024 | — | ≈$0.55 |
| Oct 31, 2024 Thu | 8:01 ambefore market open | Sep 30, 2024 | — | $0.95+34% y/y |
| Jul 31, 2024 Wed | 7:40 ambefore market open | Jun 30, 2024 | — | $0.35+75% y/y |
| May 1, 2024 Wed | 7:41 ambefore market open | Mar 31, 2024 | — | $0.04 |
| Feb 27, 2024 Tue | 7:39 ambefore market open | Dec 31, 2023 | — | ≈−$0.14+88% y/y |
| Nov 1, 2023 Wed | 7:30 ambefore market open | Sep 30, 2023 | — | $0.71 |
| Aug 1, 2023 Tue | 7:35 ambefore market open | Jun 30, 2023 | $2.2B+86% y/y | $0.20 |
| May 1, 2023 Mon | 7:35 ambefore market open | Mar 31, 2023 | $1.8B+249% y/y | −$0.38+84% y/y |
| Jan 19, 2023 Thu | 7:46 ambefore market open | Dec 31, 2022 | ≈$1.5B+212% y/y | ≈−$1.15+71% y/y |
| Oct 6, 2022 Thu | 8:01 ambefore market open | Sep 30, 2022 | $1.6B+955% y/y | −$0.70+69% y/y |
| Aug 9, 2022 Tue | 7:36 ambefore market open | Jun 30, 2022 | $1.2B | −$1.22+37% y/y |
| May 10, 2022 Tue | 7:20 ambefore market open | Mar 31, 2022 | $522M | −$2.35+44% y/y |
| Feb 8, 2022 Tue | 8:56 ambefore market open | Dec 31, 2021 | $487M | −$4.01−60% y/y |
| Nov 3, 2021 Wed | 7:05 ambefore market open | Sep 30, 2021 | $153M | −$2.29+8% y/y |
| Aug 6, 2021 Fri | 7:10 ambefore market open | Jun 30, 2021 | $4M−74% y/y | −$1.94+35% y/y |
| May 6, 2021 Thu | 7:05 ambefore market open | Mar 31, 2021 | $3M−100% y/y | −$4.16+53% y/y |
| Feb 25, 2021 Thu | 7:05 ambefore market open | Dec 31, 2020 | $10M−99% y/y | −$2.51 |
| Nov 9, 2020 Mon | 4:20 pmafter market close | Sep 30, 2020 | $7M−100% y/y | −$2.50 |
| Jul 16, 2020 Thu | 6:53 ambefore market open | Jun 30, 2020 | $17M−99% y/y | −$2.99 |
| Apr 27, 2020 Mon | 9:38 amduring market hours | Mar 31, 2020 | $1.2B−11% y/y | −$8.80 |
| Feb 20, 2020 Thu | 8:06 ambefore market open | Dec 31, 2019 | $1.5B+7% y/y | $0.56−20% y/y |
| Nov 7, 2019 Thu | 9:10 ambefore market open | Sep 30, 2019 | $1.9B+3% y/y | $2.09−1% y/y |
| Aug 8, 2019 Thu | 8:18 ambefore market open | Jun 30, 2019 | $1.7B+9% y/y | $1.11+10% y/y |
| May 9, 2019 Thu | 7:38 ambefore market open | Mar 31, 2019 | $1.4B+9% y/y | $0.54+20% y/y |
| Feb 21, 2019 Thu | 8:17 ambefore market open | Dec 31, 2018 | $1.4B+11% y/y | $0.70+63% y/y |
| Nov 8, 2018 Thu | 7:52 ambefore market open | Sep 30, 2018 | $1.9B+13% y/y | $2.11+21% y/y |
| Aug 9, 2018 Thu | 7:46 ambefore market open | Jun 30, 2018 | $1.5B+13% y/y | $1.01+16% y/y |
| May 2, 2018 Wed | 9:10 ambefore market open | Mar 31, 2018 | $1.3B+12% y/y | $0.45+67% y/y |
| Feb 22, 2018 Thu | 8:10 ambefore market open | Dec 31, 2017 | $1.2B+11% y/y | $0.43+34% y/y |
| Nov 9, 2017 Thu | 7:50 ambefore market open | Sep 30, 2017 | $1.7B+11% y/y | $1.74+16% y/y |
| Aug 8, 2017 Tue | 8:45 ambefore market open | Jun 30, 2017 | $1.3B+13% y/y | $0.87+36% y/y |
| May 10, 2017 Wed | 8:00 ambefore market open | Mar 31, 2017 | $1.2B+7% y/y | $0.27−16% y/y |
| Feb 22, 2017 Wed | 7:27 ambefore market open | Dec 31, 2016 | $1.1B+9% y/y | $0.32+88% y/y |
| Nov 9, 2016 Wed | 7:04 ambefore market open | Sep 30, 2016 | $1.5B+16% y/y | $1.50+38% y/y |
| Aug 9, 2016 Tue | 7:48 ambefore market open | Jun 30, 2016 | $1.2B+9% y/y | $0.64−7% y/y |
| May 10, 2016 Tue | 8:04 ambefore market open | Mar 31, 2016 | $1.1B+15% y/y | $0.32 |
| Feb 23, 2016 Tue | 10:00 amduring market hours | Dec 31, 2015 | $1.0B+31% y/y | $0.17 |
| Nov 3, 2015 Tue | 2:01 pmduring market hours | Sep 30, 2015 | $1.3B+42% y/y | $1.09+12% y/y |
| Aug 4, 2015 Tue | 9:03 ambefore market open | Jun 30, 2015 | $1.1B+42% y/y | $0.69+28% y/y |
| May 7, 2015 Thu | 8:21 ambefore market open | Mar 31, 2015 | $938M+41% y/y | −$0.10 |
| Feb 18, 2015 Wed | 3:10 pmduring market hours | Dec 31, 2014 | $789M+31% y/y | −$0.12 |
| Oct 29, 2014 Wed | 5:00 pmafter market close | Sep 30, 2014 | $907M+14% y/y | $0.97+18% y/y |
| Jul 28, 2014 Mon | 4:38 pmafter market close | Jun 30, 2014 | $766M+19% y/y | $0.54 |
| Apr 29, 2014 Tue | 9:03 ambefore market open | Mar 31, 2014 | $664M+26% y/y | $0.24 |
| Feb 18, 2014 Tue | 7:00 ambefore market open | Dec 31, 2013 | $600M+19% y/y | $0.17 |
| Oct 28, 2013 Mon | 4:30 pmafter market close | Sep 30, 2013 | $798M+18% y/y | $0.82+14% y/y |
| Jul 29, 2013 Mon | 8:00 ambefore market open | Jun 30, 2013 | $644M+10% y/y | −$0.04 |
| May 6, 2013 Mon | 4:01 pmafter market close | Mar 31, 2013 | $528M+2% y/y | −$0.49 |
| Feb 11, 2013 Mon | 5:25 pmafter market close | Dec 31, 2012 | $503M | $0.01 |
Show all 55 reports since 2013Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Norwegian Cruise Line Holdings: 15-year financials
| 2025 | 9,828 | 1,561 | 423 | −1,170 |
| 2024 | 9,480 | 1,466 | 910 | 839 |
| 2023 | 8,550 | 931 | 166 | −745 |
| 2022 | 4,844 | −1,552 | −2,270 | −1,574 |
| 2021 | 648 | −2,552 | −4,507 | −3,221 |
| 2020 | 1,280 | −3,484 | −4,013 | −3,503 |
| 2019 | 6,462 | 1,178 | 930 | 185 |
| 2018 | 6,055 | 1,219 | 955 | 508 |
| 2017 | 5,396 | 1,049 | 760 | 229 |
| 2016 | 4,874 | 926 | 633 | 172 |
| 2015 | 4,345 | 703 | 427 | −79.8 |
| 2014 | 3,126 | 503 | 338 | −329 |
| 2013 | 2,570 | 396 | 102 | −402 |
| 2012 | 2,276 | 357 | 169 | 94.8 |
| 2011 | 2,219 | 316 | 127 | 172 |
Show all 15 yearsShow fewer
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Shareholders’ equity at Jun 30, 2026: $2.6B (11% of total assets). Compare with other S&P 500 companies →
Norwegian Cruise Line Holdings (NCLH) earnings: FAQ
How does Norwegian Cruise Line Holdings make money?
Norwegian Cruise Line Holdings brought in $2.64 billion of revenue in Q2 2026, up 4.9% year over year. The largest source was Passenger ticket: $1.73 billion, or 65% of the total, followed by Onboard and other ($911M, 34%). Net income for the quarter was $223 million, up 642% year over year.
When is NCLH's next earnings date?
We have not yet seen an announcement of the date from Norwegian Cruise Line Holdings (NCLH). Based on last year's report on Nov 4, 2025, the next report is expected around Nov 3, 2026.
What time does NCLH report earnings?
Norwegian Cruise Line Holdings usually reports before market open: its latest results release was filed with the SEC at 6:50 am ET on Jul 30, 2026.
When did NCLH last report earnings?
Norwegian Cruise Line Holdings reported Q2 2026 results on Jul 30, 2026.
Where can I find Norwegian Cruise Line Holdings's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to NCLH's filings; this page breaks the latest report down in a Sankey chart.
What was NCLH's net income in Q2 2026?
Norwegian Cruise Line Holdings reported net income of $223M for Q2 2026 (+642% year over year), under US GAAP.
How has Norwegian Cruise Line Holdings's revenue changed since 2011?
Per its 10-K filings, revenue grew 4.4x: $2,219M in 2011 and $9,828M in 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report — two independent automated readings of the release had to match, and every number in the text was checked against it. Figures checked against the filing on 10/16/2026. How we make the breakdowns · Report an error
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