TD Cowen Initiates Norwegian Cruise Line (NCLH) With Buy rating, $31 PT
In Q1 2025, the company met or exceeded guidance across all key metrics for the quarter. Net yields increased by 1.2% above expectations, contributing to an Adjusted EBITDA of $453 million, which also surpassed guidance. The trailing 12-month margin was 35.5%, which was a 2.8% improvement over the previous year. Adjusted EPS was $0.07, slightly below guidance due to a $0.05 foreign exchange headwind.
A luxury cruise ship in motion in the ocean, with passengers enjoying the view on the deck.
Positive developments for NCLH include the on-time and on-budget delivery of the new ship, Norwegian Aqua, and enhancements at Great Stirrup Cay, which include a new pier and resort-style amenities, expected to improve guest satisfaction and incremental yields. The revamped NCL app has been successful, with over 800,000 guests logging in during the quarter.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a cruise company in North America, Europe, the Asia-Pacific, and internationally.
While we acknowledge the potential of NCLH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
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Disclosure: None. This article is originally published at Insider Monkey.
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- In Summer 2026, Norwegian Cruise Line Will Open an All-New Nearly Six-Acre Waterpark with 19 Waterslides, an Almost 800-Foot Dynamic River, A New Jet Karts Water Track and More Experiences for Guests to Enjoy "The Great Life" at Great Stirrup Cay - - NCL is Inviting Consumers to "Escape to the Great Life" with Great Stirrup Cay Activations in New York City from July 29 to 31, 2025 and in Miami throughout August, Along with the Launch of a Nationwide Sweepstakes Giving Away 250 Cruises to Its Redefined Private Island in the Bahamas - MIAMI, July 29, 2025 /PRNewswire/ -- Norwegian Cruise Line® (NCL), the innovator in global cruise travel, today announced additional details for its private island transformation on Great Stirrup Cay in the Bahamas headlined by a nearly six-acre Great Tides Waterpark opening in summer 2026, and more incredible experiences to bring unforgettable adventures and endless relaxation for its guests. Experience the full interactive Multichannel News Release here: From cliff jumps and jet karts to swim-up bars and splash zones, the expansion of the island's offerings is designed to elevate every guest's experience – adults and kids alike – with more freedom, more flexibility and more ways for them to discover "The Great Life!" at Great Stirrup Cay. "Great Stirrup Cay has always been an amazing part of the Norwegian Cruise Line guest experience and continues to be one of our highest rated destinations," said David J. Herrera, president of Norwegian Cruise Line. "At 270 acres our private island provides us with an incredible blueprint to reinvent what guests can experience when they escape to 'The Great Life' with us. This new waterpark is an outstanding addition to our recent announcement about other amazing new amenities on the island soon to debut. With each phase of our enhancements, we're bringing ashore more of what our guests love about sailing with NCL. Whether you want to relax by the huge new heated pool – complete with multiple swim up bars, are looking forward to racing down one of the 19 waterslides with your kids at Great Tides Waterpark, or just want to enjoy the ocean breeze from one of the hammocks at Hammock Bay, Great Stirrup Cay will soon boast even more ways to escape to YOUR 'great life' for a memorable vacation on and off the ship. I am thrilled to welcome our guests to the greatest private island in the Caribbean!" BIG SPLASH, BIGGER ESCAPE: GREAT TIDES WATERPARK WILL DELIVER INDUSTRY FIRST EXPERIENCES WITH ADRENALINE-BOOSTING AND LAID-BACK ADVENTURESAnchored by 19 waterslides – from adrenaline-boosting to laid-back adventure – a nearly 800-foot dynamic river, the 9,000-square-foot splash zone for kids, and the industry's first cliffside jumps, Great Tides Waterpark will deliver guests MORE to do and MORE to enjoy. At 170-feet, the unmissable Tidal Tower will be home to eight thrilling waterslides, including the two tallest slides of the tower where guests can experience splashing drops and thrilling climbs on an inner tube for an exhilarating ride. Additional slides include racing slides where guests can speed to the finish line on a mat, tube slides which features large spirals and spins that send guests in a whole other direction as they shoot down in a burst of excitement, as well as exciting body slides. To make it even easier to enjoy, select slides will include convenient conveyer belts to lift the rafts to the top of the tower, eliminating the tedious task of guests carrying them up on their own. Families and adventure seekers will be able to let loose at Cliffside Cove with racer slides, two different cliff jumps standing at 10 and 15 feet tall – a cruise industry first – as well as the Caribbean's only family slide, where four guests can slide down simultaneously. For those who prefer to enjoy from the sidelines, The Grotto Bar, a hidden cave bar tucked under the family slide, will offer the best people watching with a cocktail in hand. At the center of Great Tides Waterpark, a 9,000-square-foot kids splash zone will provide a water wonderland for little ones with an oversized tipping bucket towering at over 40 feet above the ground. Eight mini slides and interactive water features complete this aquatic paradise for children of all ages. The waterpark will also feature a dynamic river, an immersive water experience with an accelerated current that will be faster and more exciting than a typical lazy river. At 800 feet long guests will be able to enter the dynamic river from several points, including a wading pool with a conveniently located swim-up bar nearby. A highlight on the river will be an illuminated grotto tunnel featuring a dreamlike bioluminescent scene for the ultimate multi-sensory experience. Well-located cabanas will be situated at the edge of the dynamic river and the kids splash zone for premium access to the popular family areas. MORE WAYS TO ENJOY 'THE GREAT LIFE': ISLAND ENHANCEMENTS FOR EVERYONEAn all-new mini aquatic racecourse with jet karts – combining elements of go-karting and jet skiing – will soon be one of the top shore excursions available on the island for adventure seekers. Debuting later this year, guests will start to enjoy some of the first enhanced experiences at Great Stirrup Cay, beginning with the opening of the brand-new heated pool, a new multi-ship pier, the scenic welcome plaza, and an island-wide tram service that will make it easier than ever to get around the island and escape to "The Great Life." The Great Life Lagoon, the recently announced expansive 1.4-acre pool area, will be complete with private ocean and pool view cabanas and villas, an abundance of complimentary loungers and two swim-up bars offering a selection of refreshing beverages including kid-friendly drinks and adult-favorite cocktails. Each bar will have its own ambiance, with Reef Bar designed to be more vibrant with a DJ spinning all-day beats. The Waves Bar will be on the opposite side of the pool where a beach-style entrance leads to an exciting splash area for kids with fun water features. Another popular family space will be the 3,400-square-foot Splash Harbor, a complimentary splash pad steps away from the brand-new heated pool, with interactive water fountains, aquatic features and a shaded bar and lounge for the parents to relax while the kids are at play. For guests who enjoy their fair share of competition, the soon-to-be all-new complimentary recreational area, Horizon Park, will feature lawn style games, pickleball courts, a nine-hole mini golf course, half a sports court and more. Designed to provide the ultimate beachside relaxation, Hammock Bay will include over 50 hammocks for the perfect afternoon nap, a dedicated bar and will be conveniently located near the guest-favorite BBQ buffet. Or if exclusive oceanfront luxury is preferred, Vibe Shore Club, the adults-only area, will offer a chicer ambiance with a private bar, hanging day beds and premium lounge seating. Entrance to the adults-only area comes with the purchase of a day pass and includes an upgraded lounger and premium umbrella, or for an even more elevated experience, villas will also be available to rent. TRAVELERS CAN WIN THEIR WAY TO PARADISE WITH NCL'S 'ESCAPE TO THE GREAT LIFE' SWEEPSTAKESAs part of the "Escape to the Great Life" campaign, NCL is launching a nationwide sweepstakes from July 29 to Aug. 31, 2025 and giving away 250 cruises to Great Stirrup Cay for travelers to experience the all-new attractions. Open to residents of the U.S. and Canada1, consumers can enter for a chance to win a four-day voyage in August 2026 for two in a balcony stateroom inclusive of NCL's popular More At Sea™ package. For additional details on the sweepstakes or to enter to win, visit Additionally, from July 29 to 31, 2025 NCL is bringing the island life to New York City, and in Miami throughout the month of August, with "Escape to the Great Life" consumer activations. In New York City, NCL is bringing Great Stirrup Cay to SoHo with a limited-time engagement experience. Beginning at 3 p.m. on Tuesday, July 29 a custom "escape hatch" at 104 Grand Street, New York City, will open to the public and passersby will instantly be transported to the island paradise, complete with tropical sights and sounds of what awaits at Great Stirrup Cay. Guests will find immersive LED graphic island visuals, they'll be able to dance to the beat of live steel drums, snag beach ready NCL merchandise and enter to win the "Escape to the Great Life" sweepstakes. The pop-up activation is open to the public on July 29, 2025 from 3 p.m. to 7 p.m. EST, and from 10 a.m. to 7 p.m. EST on July 30 and 31, 2025. Coinciding with the consumer activation, seven custom "escape hatches" are hidden across Manhattan in the popular areas of Hudson Yards, Gansevoort Plaza, 54th Street in Times Square, Broadway and Broome, Grand Central Station, State Street in the Financial District, and on the Highline Sundeck on 14th Street, providing the public additional opportunities to open the door and to enter to win one of the 250 cruise giveaways. Throughout the month of August, three "escape hatches" will also be hidden throughout Miami, NCL's hometown, in Wynwood, on Lincoln Road in Miami Beach and at Bayside Marketplace in downtown inviting the public to open the doors to enter to win an escape to "The Great Life" at Great Stirrup Cay. GREAT STIRRUP CAY ITINERARIES HEAT UP IN 2026As the Company transforms Great Stirrup Cay, and due to the growing guest demand of Caribbean and Bahamas sailings, Norwegian Cruise Line is set to welcome one million guests to Great Stirrup Cay across 15 of its ships in 2026. It will bring its newest ships to its private island in the Bahamas, including Norwegian Aqua™, offering a variety of seven-day Caribbean voyages from Miami and Orlando (Port Canaveral), Fla. through October 2027 with calls to the Dominican Republic, U.S. Virgin Islands, British Virgin Islands and more. In addition, Norwegian Luna, the Company's latest vessel debuting in March 2026, will also offer seven-day Caribbean itineraries from April 2026 to October 2026, visiting the same beautiful tropical destinations as her sister ship, Norwegian Aqua. Starting today and for a limited time, NCL is offering up to $1,500 off all Caribbean and Bahamas sailings with "The Great Life Sale" for guests to book their next tropical getaway. As an added bonus, Latitudes Members will also receive a $50 on board credit per stateroom to use during their sailing. In addition, guests can enjoy even more with NCL's 'More at Sea™' package providing over $2,000 of savings on guest favorite amenities including unlimited open bar, specialty dining, shore excursion credits and Wi-Fi. For more information about the Company's award-winning fleet and worldwide itineraries, or to book a cruise, please contact a travel professional, call 888-NCL-CRUISE (625-2784) or visit About Norwegian Cruise LineAs the innovator in global cruise travel, Norwegian Cruise Line® has been breaking the boundaries of traditional cruising for 58 years. Most notably, the cruise line revolutionized the industry by offering guests the opportunity to design their ideal vacation on their preferred schedule with no assigned dining and entertainment times and no formal dress codes. Today, the company invites guests to 'Experience More at Sea' by providing them with more to see, more to do, more to enjoy, and more value on their vacation. To further deliver guests with more value, NCL's 'More At Sea™' package provides added benefits and inclusions such as unlimited open bar; specialty dining credits; high-speed Wi-Fi; shore excursions credits; as well as free airfare and third and fourth guests sail free on select sailings. Its fleet of 20 contemporary ships sail to nearly 350 of the world's most desirable destinations, including Great Stirrup Cay, the company's private island in the Bahamas and its resort destination Harvest Caye in Belize. Norwegian Cruise Line not only provides superior guest service from land to sea but also offers a wide variety of award-winning entertainment and dining options as well as a range of accommodations across the fleet, including solo-traveler staterooms, club balcony suites and The Haven by Norwegian®, the company's ship-within-a-ship concept. For additional information or to book a cruise, contact a travel professional, call 888-NCL-CRUISE (625-2784) or visit For the latest news and exclusive content, visit the NCL Newsroom and follow Norwegian Cruise Line on Facebook, Instagram, Tik Tok and YouTube @NorwegianCruiseLine; and Twitter @CruiseNorwegian. Norwegian Cruise Line is a wholly owned subsidiary of Norwegian Cruise Line Holdings Ltd. To learn more, visit 1 Excluding Quebec View original content: SOURCE Norwegian Cruise Line Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
