Norwegian Cruise Line Holdings Ltd. is set to disclose its fourth-quarter 2025 results on March 2, amidst a backdrop of roughly $20 billion in liabilities and the need for significant debt financing. Nonetheless, shares have rallied 30.6% over the past three months, buoyed by a 3.5% earnings surprise in the last quarter and expectations of 7.7% year-over-year earnings growth. The recent acquisition of over 10% stake by Elliott Investment Management highlights potential strategic shifts as the company navigates a turbulent financial landscape.