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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Steve Wieczynski | Stifel | 10 questions · 10% challenging |
| Brandt Montour | Barclays | 10 questions · 20% challenging |
| Lizzie Dove | Goldman Sachs | 9 questions · 0% challenging |
| Matt Boss | JPMorgan | 8 questions · 13% challenging |
| Ben Chaiken | Mizuho Securities | 7 questions · 14% challenging |
| Conor Cunningham | Melius Research | 7 questions · 43% challenging |
| James Hardiman | Citigroup | 7 questions · 57% challenging |
| Robin Farley | UBS | 6 questions · 33% challenging |
| Vince Ciepiel | Cleveland Research | 5 questions · 0% challenging |
| Trey Bowers | Wells Fargo | 4 questions · 50% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Stifel | 1 analyst | 10 questions · 10% challenging |
| Barclays | 1 analyst | 10 questions · 20% challenging |
| JPMorgan | 2 analysts | 10 questions · 10% challenging |
| Goldman Sachs | 1 analyst | 9 questions · 0% challenging |
| Citigroup | 1 analyst | 7 questions · 57% challenging |
| Melius Research | 1 analyst | 7 questions · 43% challenging |
| Mizuho Securities | 1 analyst | 7 questions · 14% challenging |
| UBS | 1 analyst | 6 questions · 33% challenging |
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Norwegian Cruise Line delivered a first quarter that beat its own guidance, with net yield down 1%, Adjusted Net Cruise Cost Ex Fuel of $168 declining 1%, and Adjusted EBITDA of $533 million all ahead of plan, yet the story was the sharply lowered full-year outlook: net yields now expected to decline 3%-5% and adjusted EPS cut to $1.45-$1.79 from roughly $2.38. New CEO John Chidsey attributed the revision to internal marketing and revenue-management missteps that left the company behind its booking curve, compounded by Middle East-related pressure on European sailings (about 26% of Q2 and 38% of Q3 deployment) and softer domestic demand. Management moved decisively on cost, identifying $125 million of annualized SG&A savings and bringing cumulative savings toward $400 million, while framing the revenue fix as a multi-quarter rebuild that should show green shoots in 2027. With CAPEX set to decline by nearly $1 billion per year and no major debt maturities until 2030, the company emphasized a path to deleveraging even as year-end net leverage sits in the high fives.
Demand | Revenue Growth | Competitive Dynamics | Guidance Reliability | Macroeconomic | Pricing | Geographic Expansion | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 6 | 1 | 1 | 1 | 2 | 1 | 1 |
| 2025Q1 | 5 | 2 | 1 | 3 | 2 | 1 | 1 | |
| 2025Q2 | 4 | 3 | 1 | 1 | 1 | 3 | 1 | |
| 2025Q3 | 3 | 4 | 4 | 1 | 4 | 1 | 1 | |
| 2025Q4 | 6 | 2 | 5 | 3 | 2 | 1 | 2 | 2 |
| 2026Q1 | 9 | 2 | 3 | 3 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 5 | 4 | 3 | 6 | 9 |
| Revenue Growth | 6 | 2 | 3 | 4 | 2 | |
| Competitive Dynamics | 1 | 1 | 1 | 4 | 5 | 2 |
| Guidance Reliability | 1 | 3 | 1 | 1 | 3 | 3 |
| Macroeconomic | 1 | 2 | 1 | 2 | 3 | |
| Pricing | 2 | 1 | 4 | 1 | ||
| Geographic Expansion | 1 | 3 | 1 | 2 | 1 | |
| Cost Pressure | 1 | 1 | 1 | 1 | 2 | 1 |
Calendar quarter Q1 2026Earnings call May 4, 2026
FY2026 Q1 in brief
Norwegian Cruise Line delivered a first quarter that beat its own guidance, with net yield down 1%, Adjusted Net Cruise Cost Ex Fuel of $168 declining 1%, and Adjusted EBITDA of $533 million all ahead of plan, yet the story was the sharply lowered full-year…
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY +9.57% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Norwegian Cruise Line Holdings (NCLH), FY2026 Q1: 6/10. Scores: Norwegian Cruise Line Holdings’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: NCLH daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.11B | +6.2% | $0.49 | +296.0% | 10.2% | 12.1% | $156M |
| FY2025 Q1 | $2.13B | -2.9% | $-0.09 | -326.6% | 9.4% | -1.9% | $-846M |
| FY2025 Q2 | $2.52B | +6.1% | $0.07 | -79.1% | 16.8% | 1.2% | $381M |
| FY2025 Q3 | $2.94B | +4.7% | $0.86 | -9.5% | 25.5% | 14.3% | $-727M |
| FY2025 Q4 | $2.24B | +6.4% | $0.03 | -93.9% | 8.3% | 0.6% | $21M |
| FY2026 Q1Selected | $2.33B | +9.6% | $0.23 | +351.9% | 10.0% | 4.5% | $-625M |
| FY2026 Q2 | $2.64B | +4.9% | $0.48 | +617.5% | 13.8% | 8.4% | $178M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What NCLH and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We've seen some recent deployment shifts from MSC and whatnot.”
An analyst notes rival MSC Cruises has shifted Caribbean deployment, part of the competitive backdrop NCLH is navigating in that region.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NCLH Norwegian Cruise Line Holdings | 6 | +9.6% | |
| ABNB Airbnb | 9 | +17.9% | |
| BKNG Booking Holdings | 7 | +16.2% | |
| EXPE Expedia Group | 7 | +14.7% | |
| RCL Royal Caribbean Group | 6 | +11.3% |