Royal Caribbean equipment spending climbs to $7.2 billion
The cruise group increased investment in ships and equipment while management lowered its calendar 2026 spending forecast.
Royal Caribbean Group spent $7.2 billion on ships and other equipment over the twelve months to June 2026, compared with $1.4 billion three years earlier. That outlay equaled 39% of sales, up from 12% three years before. Sales over the latest twelve-month period were 56% higher than three years earlier.
The spending bill amounted to 147% of the cash generated by Royal Caribbean’s business, compared with 48% in the same quarter a year earlier. At the end of June, the company held $0.9 billion in cash and short-term investments against $23.5 billion of debt.
Management expects spending of about $4.7 billion in calendar 2026, below its earlier forecast of $5.0 billion. It also said bookings for 2026 and 2027 were in line with prior years and at record pricing. Separately, Legend of the Seas brought the Icon Class of ships to Europe for the first time.