Norwegian Cruise (NCLH) Earnings Call Transcript

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Monday, March 2, 2026 astatine 8 a.m. ET

• President and Chief Executive Officer — John Chidze

• Executive Vice President and Chief Financial Officer — Mark A. Kempa

• Investor Relations — Sarah Inmon

Operator: Good morning, and invited to Norwegian Cruise Line Holdings Ltd. Fourth Quarter and Full Year 2025 Earnings Conference Call. My sanction is Rob, and I volition beryllium your operator. At this time, each participants are successful a listen-only mode. Later, we volition behaviour a question-and-answer session, and instructions for the league volition travel astatine that time. As a reminder to each participants, this league telephone is being recorded. I would present similar to crook the league implicit to your host, Sarah Inmon. Sarah, delight proceed.

Sarah Inmon: Good morning, everyone. Thank you for joining america for our 4th fourth and afloat twelvemonth 2025 net call. I americium joined contiguous by John Chidze, President and CEO of Norwegian Cruise Line Holdings Ltd., and Mark A. Kempa, Executive Vice President and Chief Financial Officer. As a reminder, this league telephone is being simultaneously webcast connected the company's Investor Relations website. We volition beryllium referring to a descent presumption during this telephone which tin besides beryllium recovered connected our website. Both the league telephone and presumption volition beryllium disposable for replay for 30 days pursuing today's event. Before we begin, I would similar to screen a fewer items.

Our property merchandise with 4th fourth and afloat twelvemonth 2025 results was issued this greeting and is besides disposable connected our website. This telephone includes forward-looking statements that impact risks and uncertainties that could origin our existent results to disagree materially from specified statements. These statements should beryllium considered successful conjunction with the cautionary connection contained successful our net release. Our comments whitethorn besides notation non-GAAP fiscal measures. A reconciliation to the astir straight comparable GAAP fiscal measurement and different associated disclosures are contained successful our net merchandise and presentation.

Unless different noted, each references to 2025 and 2026 nett output and adjusted nett cruise outgo excluding substance per capableness time are connected a changeless currency ground and comparisons are to the aforesaid play successful the anterior year. With that, I would similar to crook the telephone implicit to our CEO, John Chidze. John?

John Chidze: Thank you, Sarah, and bully morning, everyone. It is my pleasance to beryllium present with you today. I would similar to convey my Norwegian Cruise Line Holdings Ltd. colleagues for their lukewarm invited and Mark for his partnership. There are galore reasons that I agreed to articulation the Board past February, and present go CEO. This is simply a peculiar company. It founded the modern cruise industry. We person iconic brands, an highly loyal impermanent base, and a dedicated team. At the aforesaid time, Norwegian Cruise Line Holdings Ltd. has intelligibly not been performing to its afloat potential.