Norwegian Cruise Line Holdings (NCLH) shares plummeted 8.77% during intraday trading on Thursday, as investors reacted to the company’s second-quarter financial results and a significantly lowered full-year profit outlook.

The cruise operator trimmed its fiscal 2026 adjusted earnings per share guidance to approximately $1.50, a sharp reduction from the prior range of $1.45 to $1.79 and well below the consensus analyst estimate of $1.66. The company cited persistent demand softness—particularly at its namesake brand—and rising fuel costs linked to ongoing tensions in the Middle East as key headwinds. Norwegian also noted that it remains below its optimal booked position for the next twelve months, as execution challenges and geopolitical disruptions continue to weigh on consumer booking trends.

While Norwegian’s second-quarter adjusted earnings of $0.48 per share beat analyst expectations, the cautious forward guidance overshadowed the quarterly performance, fueling a sell-off that accelerated throughout the session.