NCLH · 10-Q · 2026Q3 · Full report

Operating Cash Flow and Capex

Norwegian Cruise Line Holdings Ltd. · 2026-10-29 · Importance 49 · Surprise 32 · From source text

Net cash provided by operating activities was $1.7 billion for the nine months ended September 30, 2026, compared with $1.6 billion in the prior-year period. Net cash used in investing activities was $2.2 billion, primarily for delivery of Norwegian Luna and partially offset by proceeds from the Oceania Sirena sale; it was $2.8 billion in 2025, primarily for Norwegian Aqua and Oceania Allura deliveries. Anticipated ship-construction and growth expenditures were $1.1 billion for the remainder of 2026, $3.1 billion in 2027, and $1.8 billion in 2028, with export-credit financing in place for $0.6 billion, $2.0 billion, and $1.3 billion, respectively. Other non-newbuild capital expenditures were expected to be approximately $0.1 billion for the remainder of 2026.

Key facts

• Nine-month net cash used in investing activities was $2.2 billion in 2026 and $2.8 billion in 2025; 2026 investing cash use primarily related to Norwegian Luna’s delivery and was partly offset by Oceania Sirena sale proceeds. source
• Nine-month net cash provided by financing activities was $534.9 million in 2026, primarily due to Norwegian Luna newbuild loans and net Revolving Loan Facility receipts, partly offset by scheduled newbuild loan repayments. source
• Nine-month net cash provided by operating activities was $1.7 billion in 2026 and $1.6 billion in 2025. source

Impact estimates