Royal Caribbean cuts FY26 adjusted EPS view to $17.10-$17.50 from $17.70-$18.10

Consensus $17.15. Sees FY26 revenue up 10%. Narrows FY26 net yields view to 2.3%-3.3% from 2.1%-4.1%. The company said, “NCC, excluding Fuel, per APCD are expected to increase approximately 0.5% as-reported and be approximately flat in Constant Currency. Fuel costs, based on current at-the-pump rates, net of hedging, are expected to be approximately $1.3 billion, or $0.62 per share higher than prior guidance. The company is 59% hedged for the remainder of 2026 at below market rates.”