Royal Caribbean Cruises (NYSE:RCL) Posts Quarterly Earnings Results, Hits Estimates

Royal Caribbean Cruises (NYSE:RCL) announced its quarterly earnings data on Thursday. The company reported $2.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.80, FiscalAI reports. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%.

Here are the key takeaways from Royal Caribbean Cruises’ conference call:

• Strong 2025 results: Management reported record 9.4 million guests, nearly $18 billion in revenue, 33% adjusted EPS growth (FY adj. EPS $15.64), ~$6.4–6.5 billion operating cash flow, and $2 billion returned to shareholders.
• Confident 2026 guidance: Company expects capacity +6.7%, double‑digit revenue growth, net yield +1.5%–3.5%, adjusted EPS of $17.70–$18.10, and >$7 billion operating cash flow, positioning it to hit its 2027 targets.
• Growth investments underway: Commitments include 10 additional Celebrity River ships (20 by 2031), a new Royal Caribbean “Discovery Class” (2 firm + 4 options), expanded private destinations (Royal Beach Club), and a loyalty overhaul (Points Choice) to broaden the vacation ecosystem.
• Near‑term cost and regulatory headwinds: Net cruise costs ex‑fuel are guided to be flat to +1%, with ~200 basis points of incremental costs from private‑destination ramp-up, EU ETS expansion to 100% of European itinerary emissions in 2026, and fuel expense pegged at ~$1.17 billion (60% hedged).
• Strong booking momentum and tech adoption: Management said the best seven booking weeks on record left ~two‑thirds of 2026 booked at high load factors, with digital/AI investments and new ships driving higher direct and partner channel demand and improved conversion.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded up $39.54 during midday trading on Thursday, reaching $331.14. 3,810,634 shares of the company’s stock traded hands, compared to its average volume of 2,387,986. The company has a market cap of $90.31 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.81 and a beta of 1.94. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.14 and a current ratio of 0.16. The stock has a 50 day moving average of $279.45 and a 200 day moving average of $304.16. Royal Caribbean Cruises has a one year low of $164.01 and a one year high of $366.50.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.00 annualized dividend and a yield of 1.2%. Royal Caribbean Cruises’s payout ratio is presently 26.90%.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 1,100 shares of Royal Caribbean Cruises stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $281.76, for a total transaction of $309,936.00. Following the transaction, the director directly owned 14,234 shares of the company’s stock, valued at $4,010,571.84. The trade was a 7.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by insiders.

Institutional Trading of Royal Caribbean Cruises

Large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its stake in shares of Royal Caribbean Cruises by 16.1% during the second quarter. Rakuten Securities Inc. now owns 252 shares of the company’s stock valued at $79,000 after acquiring an additional 35 shares during the period. PFG Advisors lifted its position in Royal Caribbean Cruises by 3.7% in the 3rd quarter. PFG Advisors now owns 1,182 shares of the company’s stock worth $382,000 after buying an additional 42 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 1.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 4,886 shares of the company’s stock valued at $1,581,000 after buying an additional 47 shares during the last quarter. American Trust boosted its holdings in Royal Caribbean Cruises by 5.1% in the third quarter. American Trust now owns 1,043 shares of the company’s stock worth $337,000 after purchasing an additional 51 shares in the last quarter. Finally, L2 Asset Management LLC grew its holdings in Royal Caribbean Cruises by 4.9% during the third quarter. L2 Asset Management LLC now owns 1,122 shares of the company’s stock valued at $363,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RCL shares. Barclays reduced their price target on shares of Royal Caribbean Cruises from $342.00 to $324.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. UBS Group decreased their price target on Royal Caribbean Cruises from $353.00 to $304.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Royal Caribbean Cruises in a research note on Friday, December 26th. Truist Financial cut their price target on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $316.00 to $373.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $328.76.

Royal Caribbean Cruises News Roundup

Here are the key news stories impacting Royal Caribbean Cruises this week:

• Positive Sentiment: Company-issued 2026 guidance is bullish: management raised outlook after Q4 beat guidance and 2025 delivered >30% EPS growth, and it expects 2026 adjusted EPS of $17.70–$18.10 — a principal driver of the rally. ROYAL CARIBBEAN GROUP REPORTS 2025 RESULTS, ISSUES 2026 GUIDANCE
• Positive Sentiment: Management says the WAVE season is off to a record start with record cruise bookings, supporting stronger revenue and profit outlooks. That booking momentum is being priced in by investors. Royal Caribbean’s stock surges as record cruise bookings fuel an upbeat earnings outlook
• Positive Sentiment: Onboard spending increased in Q4, boosting revenue and margins and helping lift profit—an important higher-margin revenue stream for future results. Royal Caribbean Profit Rises as Onboard Spending Increases
• Positive Sentiment: Goldman Sachs increased its price target (to $310) and projects 2026 EPS near $17.50, highlighting cost discipline and new ships—analyst support adds conviction to the rally. Goldman Sachs Project 2026 EPS of $17.50 for Royal Caribbean Cruises Ltd. (RCL) on Cost Discipline, New Ships
• Positive Sentiment: Long-term capacity expansion: new Discovery Class ship orders and a deal with Chantiers de l’Atlantique signal product investment and future revenue growth potential. ROYAL CARIBBEAN GROUP EXPANDS VACATION PORTFOLIO WITH NEW DISCOVERY CLASS
• Positive Sentiment: Celebrity River Cruises committed to 10 additional river ships, expanding the group’s portfolio and diversifying revenue streams. CELEBRITY RIVER CRUISES ANNOUNCES 10 MORE SHIPS
• Neutral Sentiment: Reported Q4 EPS of $2.80 essentially matched consensus; the headline EPS was in line with expectations even as other metrics drew attention. View Press Release
• Neutral Sentiment: Zacks and others highlighted key metrics to watch around capacity, yields and onboard spend—useful context for investors but not market-moving on its own. Royal Caribbean (RCL) Reports Q4 Earnings: What Key Metrics Have to Say
• Negative Sentiment: One note of caution: Zacks flagged that Q4 earnings and revenues slightly lagged some estimates (EPS $2.80 vs a $2.81 Zacks estimate and revenue softness), a small miss investors may watch for signs of near-term volatility. Royal Caribbean (RCL) Q4 Earnings and Revenues Lag Estimates

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.