Royal Caribbean raises 2026 earnings outlook after revenue increase
The cruise group reported $4.83 billion in second-quarter revenue and lifted its full-year adjusted earnings guidance.
Royal Caribbean reported second-quarter 2026 revenue of $4.83 billion, compared with $4.54 billion in the same period a year earlier. The company attributed the increase to higher capacity and pricing, while saying strong demand and cost control supported earnings.
Diluted earnings per share were $4.20, and adjusted earnings per share reached $4.21. Management raised its 2026 adjusted EPS guidance to a range of $17.73 to $17.87, which the company said would be about 14% higher than 2025.
For 2025, Royal Caribbean posted diluted EPS of $15.61 and adjusted EPS of $15.64. Diluted EPS had been $10.94 in 2024.
The company’s shares were trading at 14.51 times trailing earnings and 11.40 times forward earnings. Other reported valuation measures included a 0.95 PEG ratio, a 3.41 price-to-sales ratio and an enterprise-value-to-EBITDA multiple of 11.61. The forward price-to-earnings figure reflects analysts’ estimates and is not necessarily based on management’s 2026 guidance.
Royal Caribbean operates 71 ships across Royal Caribbean, Celebrity Cruises and Silversea. It also holds a 50% stake in TUI Cruises.
