Norwegian Cruise Line Holdings beat its third quarter guidance on the strength of close-in bookings, as guests who put off summer vacations booked late and filled ships beyond the company’s expectations.

“The strong beat, which was driven by the top line, was due to extraordinary close-in demand by consumers who deferred summer vacations and ultimately booked closer to departure,” said John Chidsey, CEO of Norwegian Cruise Line Holdings, on the company’s earnings call.

Mark Kempa, executive vice president and CFO, said the late surge primarily reflected pent-up travel demand. Strong onboard spending also contributed to the top line.

Paired with unit costs that fell 2.3 percent year over year, 140 basis points better than guidance, the revenue performance drove adjusted EBITDA of $937 million, $63 million above guidance. Adjusted EPS came in at $1.12, 22 cents ahead of guidance.

Management is not counting on a repeat. Fourth quarter guidance, which calls for net yield to decline approximately 6.5 percent, assumes the late-booking strength does not continue.

“I don’t think one quarter does a trend make, and then you’ve got the holidays in the fourth quarter,” Chidsey said. “If that close-in booking continues, there could be some upside potentially in the first half.”

Looking to 2027, the company said its first half booked position remained behind the same point last year, although at higher pricing. The second half was in line with last year, also at higher pricing. Norwegian Cruise Line Holdings expects full-year 2027 net yield growth of 1 to 2 percent, with a meaningful acceleration in the second half.