Norwegian Cruise Line Holdings (NCLH) saw its stock price plummet 6.79% in pre-market trading on Wednesday following the release of its first-quarter 2025 financial results. The cruise operator's earnings fell short of analysts' expectations, sparking concerns among investors.

The company reported adjusted earnings per share (EPS) of $0.07, missing the IBES estimate of $0.09. Revenue for the quarter came in at $2.13 billion, also falling short of the projected $2.15 billion. Despite these misses, Norwegian Cruise Line did manage to post an operating income of $200.94 million, slightly above the estimated $200 million.

Adding to investor worries, Norwegian Cruise Line noted a softening in its 12-month forward booked position, potentially signaling challenges in future demand. However, the company maintained an optimistic outlook for the full year, projecting adjusted EBITDA of $2.72 billion and adjusted EPS of $2.05. As the cruise industry continues to navigate post-pandemic recovery, Norwegian's performance will be closely watched by market observers in the coming quarters.