Royal Caribbean Reports Strong 2025 Results, Issues Robust 2026 Guidance, and Announces Major Fleet Expansion
RCL sits 90% above its 52-week low of $164.01.
Summary
Royal Caribbean Group reported better-than-expected 2025 results, issued robust 2026 guidance with double-digit growth, and announced major fleet expansion plans for both ocean and river cruises, supported by record bookings.
Key Events · Earnings and Guidance · RCL
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Exceeded 2025 Financial Guidance
Reported full-year 2025 Adjusted EPS of $15.64, surpassing previous guidance, with Net Yields increasing 3.8% and Adjusted EBITDA reaching $7.0 billion.
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Robust 2026 Earnings Outlook
Issued strong 2026 Adjusted EPS guidance of $17.70 to $18.10, anticipating double-digit revenue and earnings growth driven by 6.7% higher capacity.
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Record Booking Momentum
Experienced the highest seven booking weeks in company history during the recent 'WAVE season,' with approximately two-thirds of 2026 capacity booked at record rates.
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Strategic Fleet and Portfolio Expansion
Announced two firm orders for new 'Discovery Class' ships for Royal Caribbean (debuting 2029, 2032) and a commitment for 10 new Celebrity River Cruises vessels, expanding its fleet to 20 by 2031.
Analysis · RCL · Energy & Transportation
Royal Caribbean Group delivered strong financial results for 2025, exceeding its guidance with Adjusted EPS of $15.64, driven by favorable revenue and joint venture performance. The company provided a very positive outlook for 2026, projecting Adjusted EPS between $17.70 and $18.10, representing double-digit revenue and earnings growth. This optimistic guidance is supported by a record-breaking 'WAVE season' with the highest seven booking weeks in company history and two-thirds of 2026 capacity already booked at record rates. Furthermore, the company announced significant strategic investments, including two firm orders for new 'Discovery Class' ships for Royal Caribbean and a commitment for 10 new Celebrity River Cruises vessels, signaling substantial long-term growth and expansion of its vacation portfolio. The company also continued its share repurchase program, buying back $504 million in Q4 2025. These combined factors indicate strong operational momentum, effective capital allocation, and a clear growth trajectory, reinforcing investor confidence.
At the time of this filing, RCL was trading at $311.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $79.5B. The 52-week trading range was $164.01 to $366.50. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.