The company said total revenue for Q2 2025 rose to $2.5 billion, up 6% from Q2 2024, a quarterly record. GAAP net income was $30.0 million and EPS was $0.07, down $133.4 million from a year earlier.

1. 01

   The company said total revenue for Q2 2025 rose to $2.5 billion, up 6% from Q2 2024, a quarterly record. GAAP net income was $30.0 million and EPS was $0.07, down $133.4 million from a year earlier.

2. 02

   Norwegian Cruise Line Holdings said foreign exchange losses for Q2 totaled $158.5 million, of which $121.9 million were non-cash losses tied to the mark-to-market of euro-denominated debt. Adjusted EBITDA came to $694 million, up 18% from $588 million a year earlier, and Adjusted EPS was $0.51.

3. 03

   The company reaffirmed its full-year 2025 guidance, projecting Adjusted EBITDA of about $2.72 billion and Adjusted EPS of $2.05. It said year-end Net Leverage is now expected to be about 5.2x, versus its prior outlook of about 5x, due to the mark-to-market of euro-denominated debt.

4. 04

   Norwegian Cruise Line Holdings said total debt was $13.8 billion and Net Leverage was 5.3x as of June 30, 2025, with liquidity of $2.4 billion. It also said it expanded its Revolving Loan Facility from $1.7 billion to about $2.5 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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