The earnings call presented a strong performance with substantial growth in revenue and earnings, driven by high demand, successful new offerings, and increased customer engagement. Though there were some challenges related to timing and cost increases, the overall outlook remains positive with strategic investments paving the way for future growth.

Company Guidance -

Q3 2025

During the Royal Caribbean Group's second quarter 2025 earnings call, the company announced that it exceeded expectations due to stronger-than-expected close-in demand, a shift in expense timing, and favorability below the line from the outperformance of its TUI Cruises joint venture and lower interest costs. The company increased its full-year earnings guidance, now expecting adjusted earnings per share to grow by 31% year-over-year, reaching a range of $15.41 to $15.55. Net yield grew by 5.2%, surpassing guidance by 70 basis points, and the load factor was 110%, driven by the introduction of new ships and improvements across itineraries. Royal Caribbean also highlighted strong demand for onboard spend, with pre-cruise purchases accounting for approximately half of the onboard revenue. The company remains on track to achieve its Perfecta financial targets by 2027, with a 20% compound annual growth rate in adjusted earnings per share and a return on invested capital in the high teens. For the third quarter, Royal Caribbean expects to grow yields by 2% to 2.5%, driven by like-for-like hardware, and anticipates adjusted earnings per share between $5.55 and $5.65.

Strong Revenue and Profit Growth

Adjusted earnings per share grew 36% year-over-year to $4.38, exceeding guidance by $0.33. Full-year adjusted earnings per share is expected to grow 31%.

Increased Capacity and High Demand

Capacity increased by 6% with over 2 million vacations delivered, a 10% increase year-over-year, with load factor at 110%. Bookings accelerated since the last earnings call, especially for close-in sailings.

Successful Launches and New Offerings

Star of the Seas and Celebrity Xcel are performing strongly in both pricing and load factor. The Royal Beach Club Paradise Island opened for sale with strong early demand.

Innovation and Customer Engagement

Digital channels are driving strong onboard spend, with 50% of purchases occurring pre-cruise. App downloads have surpassed 30 million.

Loyalty and Customer Satisfaction

40% of bookings from loyalty members who spend 25% more per trip. High guest satisfaction scores with strong repeat customer behavior.

Royal Caribbean (RCL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

RCL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	5.66 / -	5.2	―	―	―
Jul 29, 2025	2025 (Q2)	4.09 / 4.38	3.21	36.45% (+1.17)
Apr 29, 2025	2025 (Q1)	2.55 / 2.71	1.77	53.11% (+0.94)
Jan 28, 2025	2024 (Q4)	1.50 / 1.63	1.25	30.40% (+0.38)
Oct 29, 2024	2024 (Q3)	5.04 / 5.20	3.85	35.06% (+1.35)
Jul 25, 2024	2024 (Q2)	2.76 / 3.21	1.82	76.37% (+1.39)
Apr 25, 2024	2024 (Q1)	1.33 / 1.77	-0.23	869.57% (+2.00)
Feb 01, 2024	2023 (Q4)	1.14 / 1.25	-1.12	211.61% (+2.37)
Oct 26, 2023	2023 (Q3)	3.46 / 3.85	0.26	1380.77% (+3.59)
Jul 27, 2023	2023 (Q2)	1.57 / 1.82	-2.08	187.50% (+3.90)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RCL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$352.00	$334.37	-5.01%
Apr 29, 2025	$215.70	$215.97	+0.13%
Jan 28, 2025	$235.33	$263.58	+12.00%
Oct 29, 2024	$201.77	$208.30	+3.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.