Royal Caribbean reported second-quarter 2026 net income of $1.1 billion and diluted earnings per share of $4.20, with adjusted diluted EPS of $4.21, beating prior guidance. Total revenue for the quarter was $4.8 billion and adjusted EBITDA was $1.8 billion. The company raised full-year 2026 adjusted EPS guidance to $17.73–$17.87, citing strong close-in demand, lower costs and favorable joint-venture performance.
Financial Highlights
- Total revenue: $4.8 billion for Q2 2026.
- Net income: $1.1 billion for Q2 2026; diluted EPS: $4.20.
- Adjusted net income / Adjusted diluted EPS: $1.1 billion / $4.21 for Q2 2026.
- Adjusted EBITDA: $1.8 billion for Q2 2026; Adjusted EBITDA margin: 37.9% for the quarter.
- Full-year 2026 outlook: Adjusted EPS raised to $17.73–$17.87 (represents ~14% year-over-year growth).
Business Highlights
- Demand and pricing: Strong close-in demand and record price bookings drove net yield growth; load factor for the quarter was 110%.
- Capacity and guests: Q2 capacity up 5% year-over-year; delivered vacations to 2.4 million guests (up 6% year-over-year).
- Fleet and product expansion: Took delivery of Legend of the Seas (Icon class) in Q2; announced orders for Icon VI and Icon VII with committed financing.
- Onboard and destination strategy: Continued enhancement of onboard and destination experiences, expansion of private destinations (Perfect Day and Royal Beach Club collections) and planned entry into river cruising with Celebrity River Cruises in 2027.
- Bookings outlook: Company remains booked at record prices, booking volumes above prior year, with early encouraging pacing for 2027 despite modest near-term itinerary impacts from geopolitical activity.
Original SEC Filing:
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