NCLH · 8-K · 20261029PR006957

Fuel Cost Pressure

Norwegian Cruise Line Holdings Ltd. · 2026-10-29 · Importance 64 · Surprise 40 · In source text

Third-quarter fuel expense was $196 million, and fuel price per metric ton, net of hedges, rose to $819 from $744 in the prior-year quarter, an increase of approximately 10.1%. The company expects 2026 fuel consumption of 1,001,000 metric tons and a full-year fuel price of $788 per metric ton, net of hedges. As of October 15, 2026, it had hedged 48% of projected 2026 fuel consumption at a blended HFO and MGO price of $506 per metric ton, and 42% of projected 2027 consumption at $559 per metric ton.

Key facts

• Norwegian Cruise Line Holdings Ltd. expects fuel consumption of 255,000 metric tons in fourth-quarter 2026 and 1,001,000 metric tons for full-year 2026. source
• Expected fuel price per metric ton, net of hedges, is $803 for fourth-quarter 2026 and $788 for full-year 2026. source
• A 10% change in fuel prices, net of hedges, is expected to affect Adjusted EPS by $0.03 in fourth-quarter and full-year 2026. source
• As of October 15, 2026, Norwegian Cruise Line Holdings Ltd. had hedged approximately 48% of projected 2026 fuel consumption and 42% of projected 2027 consumption. source
• Norwegian Cruise Line Holdings Ltd. reported fuel expense of $196 million in the third quarter of 2026. source
• Blended HFO and MGO hedge prices were $506 per metric ton for 2026 and $559 per metric ton for 2027. source
• Third-quarter fuel price per metric ton, net of hedges, increased to $819 from $744 in 2025. source
• Third-quarter 2026 fuel consumption was 239,000 metric tons, slightly below projections. source

Impact estimates