Norwegian Cruise Line forecasts weak annual profit on subdued demand

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices surge after U.S.-Israel strikes on Iran; crude around $80/bbl likely Gold prices soar as Middle East conflict spurs safe haven demand Five things to watch in markets in the week ahead Dollar surges on Middle East conflict; euro, sterling retreat FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Norwegian Cruise Line forecasts weak annual profit on subdued demand By Reuters Stock Markets Published 03/02/2026, 06:37 AM Updated 03/02/2026, 07:36 AM Norwegian Cruise Line forecasts weak annual profit on subdued demand 0 CCL -3.52% RCL -2.50% NCLH -0.92% March 2 - Norwegian Cruise Line Holdings forecast annual profit below Wall Street expectations on Monday as demand for the cruise operator’s higher-priced voyages was pressured by economic uncertainty. Shares of the company, as well as peers Carnival Corp and Royal Caribbean , were down about 7% each in premarket trading, tracking a slump in the broader market due to the escalating conflict between the U.S., Israel and Iran. Norwegian Cruise is facing a slowdown in new bookings as budget-conscious customers avoid splurging on expensive cruise vacations amid persistent inflation and tariff-driven uncertainty in the U.S. The company said it entered 2026 against a pressured backdrop, with "certain execution missteps" hurting bookings. "Our priority is to act urgently to address these gaps by improving coordination, reinforcing accountability, and strengthening financial discipline across the organization," new CEO John Chidsey said. Earlier this month, activist investor Elliott Management said it has built a more than 10% stake in the cruise operator. The activist investor is pushing for a new business plan that delivers on available revenue opportunities at Norwegian to drive the share price, while criticizing the appointment of the company’s management over the last decade, including that of CEO Chidsey last month. Increased fuel costs amid escalat...