RCL
Royal Caribbean Cruises Ltd.281.51
-5.71-1.99%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Caribbean demand defies capacity adds
Q&A brushed off Caribbean capacity jitters, with management affirming higher pricing, strong volume across brands, and double-digit revenue growth there—matching global trends. Royal Beach Club hit top-rated status in Nassau within weeks, NPS nipping at Perfect Day's heels as demand ramps. River Cruises exceeded expectations, pulling 80% bookings from existing loyalists new to rivers. Discovery class ships defy small-ship rumors as true innovators. Caribbean pricing stays rational. Q&A largely reaffirms scripted strength. Demand shrugged off supply noise.
Key Stats
Market Cap
76.77BP/E (TTM)
18.94Basic EPS (TTM)
14.86Dividend Yield
0.01%Recent Filings
8-K
Closes $2.5B notes offering
8-K
Wiernicki joins RCL board
Royal Caribbean Cruises appointed Christopher Wiernicki, ex-ABS Chairman and CEO, to its board effective February 10, 2026. Wiernicki offers four decades of marine expertise in operations, safety, digitalization, and clean energy transition. His disciplined growth approach bolsters responsible scaling. Chris adds vital marine perspective.
8-K
RCL prices $2.5B notes
Royal Caribbean Cruises priced $1.25B of 4.750% senior notes due 2033 and $1.25B of 5.250% notes due 2038 on February 12, 2026, with closing set for February 27 pending conditions. Proceeds will refinance 2026 maturities and repay other debt. Smart preemptive move. Underwriting led by J.P. Morgan, Morgan Stanley, and PNC.
10-K
FY2025 results
Royal Caribbean Cruises crushed FY2025 with record $17.9B revenues, up 8.8% y/y, fueled by 5.5% capacity growth from Star of the Seas and Celebrity Xcel deliveries plus higher yields; Net Yields rose 3.8% as-reported (3.7% constant-currency) on stronger occupancy at 109.7% and ticket pricing, while Net Cruise Costs ex-fuel per APCD dipped 0.1%. Q4 momentum shone through port acquisitions like Costa Maya and Royal Beach Club Paradise Island opening, alongside $1.8B remaining buyback authorization after $1.8B repurchases. Liquidity hit $7.2B with $6.4B revolver capacity. Ships on order signal 6.7% 2026 capacity growth. Excess cruise capacity risks pricing pressure.
8-K
2025 beat, 2026 EPS $17.70-$18.10
Royal Caribbean crushed 2025 with $17.9B revenue and Adjusted EPS of $15.64, beating guidance on strong yields and joint ventures. Guides 2026 Adjusted EPS to $17.70-$18.10 amid double-digit growth from 6.7% capacity rise and record WAVE bookings. Discovery Class ships debut 2029; Celebrity River expands to 20 vessels by 2031. Momentum surges.
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