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Royal Caribbean sees Q3 adjusted EPS $5.55-$5.65

Capacity in the third quarter is expected to increase 2.9% compared to third quarter 2024, driven by the introduction of Star of the Seas in mid-August. Net Yields are expected to increase 2.3% to 2.8% as-reported and 2.0% to 2.5% in Constant Currency as compared to the same period in the prior year. Net Yield growth in the third quarter is driven by an increase in both ticket and onboard spend across all key products. As expected, Net Yield growth in the third quarter is almost entirely driven by like for like hardware, and includes a 150 bps headwind due to delivery timing of Star of the Seas. Net Yield growth in the third quarter is on top of 7.9% growth in the third quarter of 2024.

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