Norwegian Cruise Line Holdings Ltd. reported strong financial results for the fourth quarter and full year ended December 31, 2024. Full-year 2024 revenue increased approximately 11% to a record high, and the company surpassed its full-year guidance across key metrics. For Q4 2024, Adjusted EBITDA was $468.2 million, a 30% increase year-over-year, and Adjusted EPS was $0.52, significantly exceeding the consensus estimate of $0.06.
For the full year 2024, Adjusted EPS reached $1.89, up from $0.39 in 2023. The company noted strong consumer demand for its offerings throughout 2025 and into 2026, maintaining an optimal booked position on a 12-month forward basis. Occupancy for Q4 2024 was 100.8%, and for the full year 2024, it was approximately 104.9%.
NCLH provided full-year 2025 guidance, expecting Adjusted EPS of $2.05 and Adjusted EBITDA of $2.72 billion. The company also made significant strides in strengthening its financial position, reducing Net Leverage by two full turns to 5.3x by year-end 2024. This progress was recognized by S&P's and Moody’s, which upgraded NCLH's credit ratings with positive outlooks.
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