Norwegian Reports Record Q2 Revenue, Eyes Expansion Ahead

Norwegian Cruise Line Holdings shared its financial performance for the second quarter ending June 30, 2025, and outlined expectations for the third quarter and the rest of the year.

Q2 Financial Overview

The company posted its highest-ever second-quarter revenue, totaling $2.5 billion—a 6% rise compared to Q2 of 2024. GAAP net income stood at $30 million, translating to earnings per share (EPS) of $0.07. Adjusted EBITDA came in at $694 million, surpassing projections, while adjusted EPS landed at $0.51—meeting guidance despite an $0.08 negative foreign exchange impact.

Norwegian reaffirmed its full-year 2025 outlook, maintaining forecasts across all key performance indicators.

Great Stirrup Cay Developments

Norwegian also announced enhancements to its private island, Great Stirrup Cay, located in the Bahamas. Plans include a newly revealed nearly six-acre Great Tides Waterpark, which is expected to open in summer 2026. The addition complements prior developments such as a two-ship pier, welcome center, family splash pad, a tram system, and a new pool area—scheduled for completion by the end of 2025.

CEO Harry Sommer commented: “We delivered another record quarter, demonstrating once again the strong customer demand environment, the power of our brands, our outstanding onboard product, and the dedication of our team.” He emphasized the continued strength of bookings across all three cruise brands and growing onboard spending.

Fleet Growth and Financial Strength

Norwegian took delivery of the Oceania Allura, marking the eighth ship in Oceania’s luxury fleet. The company also confirmed orders for two additional Sonata Class ships, part of a strategy for thoughtful expansion.

Financially, the cruise line also upsized its senior secured Revolving Loan Facility from $1.7 billion to $2.5 billion, strengthening liquidity.

Sustainability Commitments

The group published its 2024 “Sail and Sustain” report, outlining progress on environmental and social initiatives. Sommer reinforced this focus by stating: “We are reinforcing our commitment to measured growth and long-term value creation for our stakeholders.”