Norwegian Cruise Line Holdings Ltd. (NCLH) reported record financial results for the second quarter ended June 30, 2025, with revenue of $2.52 billion, meeting or exceeding all guidance metrics. The company achieved an occupancy rate of 103.9% for the quarter, in line with its projections.
The company experienced strong bookings in the quarter, with demand rebounding across all three brands and bookings now ahead of historical levels. This follows early-April softness for third-quarter long-haul European itineraries, demonstrating the resilience of consumer demand.
NCLH continued to make significant strides in strengthening its financial position, reducing net leverage to 5.3x, down from 5.7x in the first quarter, and achieving a 2-turn reduction since 2023. The company also expanded its Revolving Loan Facility, further strengthening liquidity, and reiterated its full-year 2025 Adjusted EBITDA and Adjusted EPS guidance, signaling confidence in its strategic direction.
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