Royal Caribbean Group (NYSE:RCL) reported third quarter 2026 earnings results and updated its full year 2026 guidance in a press release issued on October 27, 2026.

Key Highlights

  • Q3 2026 EPS of $6.45: Net Income for the third quarter was $1.7 billion, or $6.45 per share, compared to $1.6 billion, or $5.74 per share, in the same period of the prior year.
  • Adjusted EPS of $6.57: Adjusted Net Income was $1.8 billion, or $6.57 per share, for the third quarter of 2026, versus $1.6 billion, or $5.75 per share, in Q3 2025.
  • Full year Adjusted EPS guidance raised: The company now expects full year 2026 Adjusted EPS in the range of $17.85 to $17.95.
  • Total revenue of $5.6 billion: Third quarter total revenues were $5.6 billion, a 9% increase year over year, with a load factor of 112%.
  • Sandals and Beaches Resorts partnership: In September, the company announced an agreement to acquire a 50% interest in Sandals and Beaches Resorts, which includes 18 resorts across the Caribbean and three resorts under development.
  • Q4 2026 Adjusted EPS guidance: Fourth quarter 2026 Adjusted EPS is expected to be in the range of $3.48 to $3.58, based on current fuel pricing, interest rates, and currency exchange rates.
  • 2027 bookings pacing ahead: According to the filing, "2027 bookings are pacing ahead of historical levels at higher rates," with booking volumes up in the high teens for 2027 sailings.

Royal Caribbean Group Third Quarter 2026 Financial Results and Guidance Update

Royal Caribbean Group reported third quarter 2026 Net Income of $1.7 billion, or $6.45 per share, and Adjusted Net Income of $1.8 billion, or $6.57 per share, according to the filing. The company disclosed that these results exceeded its own guidance, driven by stronger-than-expected close-in demand and lower costs due to the timing of expenses that shifted into the fourth quarter. Adjusted EBITDA for the quarter was $2.5 billion. The company served 2.7 million guests in the quarter, a 9% increase year over year, with capacity up 8% year over year.

On yield and cost performance, the filing reported that Net Yields increased 0.9% as-reported and 0.6% in Constant Currency compared to the third quarter of 2025, driven by better-than-expected close-in demand in Europe and the Caribbean. Net Cruise Costs excluding Fuel per APCD decreased 1.9% as-reported and 1.8% in Constant Currency versus the prior year period. Bunker pricing, net of hedging, for the third quarter was $778 per metric ton, with consumption of 446,000 metric tons. For the full year 2026, the company disclosed total fuel expenses of $1,345 million on forecasted consumption of 1,763,000 metric tons.

For the full year 2026, the company disclosed that revenue is expected to grow 9% year over year, with Net Yields expected to increase approximately 2.7% as-reported and approximately 2.1% in Constant Currency. Regarding the Sandals and Beaches Resorts transaction, the filing stated the investment is expected to close in early 2027, subject to customary closing conditions and regulatory approvals, and is expected to be accounted for under the equity method on a one-quarter lag. The company also disclosed that approximately 30% of Royal Caribbean Group guests also take all-inclusive vacations, while a similar percentage of Sandals and Beaches guests also cruise.

What Was Disclosed

Royal Caribbean Group disclosed Q3 2026 earnings results, a raised full year 2026 Adjusted EPS guidance range of $17.85 to $17.95, fourth quarter 2026 guidance, details on the Sandals and Beaches Resorts partnership, and updated fuel statistics and hedging positions.