| NCLH |
Report |
Adj. EPS |
BEAT |
pred ~$0.40 vs. cons $0.38 |
MEDIUM |
| NCLH |
Report |
Adj. EBITDA |
BEAT |
pred ~$645M vs. cons $632M |
MEDIUM |
| NCLH |
Report |
Net Yield (CC) YoY |
IN-LINE |
pred ~-3.4% vs. cons -3.6% |
MEDIUM |
| NCLH |
Guide |
Q3'26 Net Yield (CC) guide |
LOWER |
guide ~-8% vs. cons -7% (Q3'26) |
MEDIUM |
| NCLH |
Guide |
FY26 Adj. EBITDA guide |
LOWER |
guide ~$2.50B vs. cons $2.56B (FY26) |
MEDIUM |
| NCLH |
Guide |
FY26 Adj. EPS guide |
LOWER |
guide ~$1.55 vs. cons $1.62 (FY26) |
LOW |
| NCLH |
Guide |
FY26 fuel cost assumption |
LOWER |
guide ~$820M vs. cons $800M (FY26) |
LOW |
| NCLH |
Return |
Day-1 residual (stock − beta × S&P 500) |
-3.5% |
— |
MEDIUM |
| NCLH |
Return |
5-day cumulative residual |
-6.0% (FOLLOW-THROUGH) |
Q2 likely beats on cost, but the crux is the forward look: a 'significantly weaker' Q3 (Europe ~38% of deployment) guided to high-single-digit negative yields plus escalating US-Iran/fuel risk raises the odds of a second consecutive FY cut. Out-period math means implicit Q3/FY cuts pull estimates down even after a headline beat. With NCLH up ~13% into the print (7/23 $18.71 -> 7/29 $21.08) on RCL sympathy and a sector rally, the bar is high and there is no room for a soft guide, so initial weakness compounds as negative revisions flow through the next week. |
LOW |