Norwegian Cruise Line lowered its adjusted earnings outlook, as the company's plan to revive demand won't yield results for several quarters.

The Miami-based company said Thursday it is lowering prices on certain cruises to try to bring back demand that has dropped this year. The turnaround plan is still in its earliest stages, however, and executives said they don't expect to see much improvement in this fiscal year.

"The back half of the year remains pressured," Chief Financial Officer Mark Kempa said. "Many of the changes we are making to drive revenue higher, particularly on marketing and revenue management, will take time to translate into financial results."

For the full year, Norwegian expects adjusted earnings to be $1.50 a share. The company was previously forecasting a range of $1.45 to $1.79, or $1.62 at the midpoint.

Shares were down 9% to $18.93 on Thursday morning.

Norwegian is lowering prices for people who book cruises further in advance, Chief Executive John Chidsey said. The company has been evaluating its pricing model and decided it was scaring off many customers by charging too much for early booking.

As a result, Norwegian would end up offering promotions closer to the time ships set sail to try to fill up seats at the last minute.

The new pricing model is part of Norwegian's renewed effort to bring back demand. It brought on a new head of marketing and head of digital earlier this month. The models are being implemented now for cruises in 2027 and 2028, so the benefit won't show up this year, Chidsey said.

"It is important to remember that we are still early in this process," he said.

Profit in the second quarter, which ended in June, was $222.6 million, or 48 cents a share, up from $30 million, or 7 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were also 48 cents, ahead of the 39 cents anticipated by analysts, according to FactSet.

Revenue rose 5% to $2.64 billion, in line with analysts' estimates.

Norwegian's second-quarter results met Wall Street's expectations, but its lower guidance implies the fourth quarter could be worse than anticipated, Truist analyst Patrick Scholes wrote in a note.

For the current third quarter, Norwegian's adjusted earnings outlook is in line with analysts' estimate of 90 cents a share.

All three major public cruise lines have flagged demand challenges from the conflict in the Middle East. The crisis is weighing on consumers' confidence to travel near the region, while also driving up the cost of fuel for cruise operators.

Norwegian's fuel price per metric ton has increased to $888 from $659 in the prior year.

The company said it is seeing the most pronounced dip in demand for cruises sailing to Europe, which makes up about 40% of its total trips. Travelers from North America - who make up two-thirds of Norwegian's customers - are pulling back the most, due to high airfares and macroeconomic challenges, executives said.