Royal Caribbean shares fall as Hero of the Seas reaches float-out milestone
The cruise company also outlined its 2026 earnings outlook, projected fuel costs and hedging position.
Royal Caribbean Cruises Ltd. shares ended Wednesday at $259.76, declining $4.74, or 1.79%, on trading volume of 2.41 million shares. The closing price was 15.7% below the stock’s $308 close on Aug. 10, according to daily market data.
At Wednesday’s close, the shares were valued at approximately 14.6 times the midpoint of Royal Caribbean’s adjusted earnings guidance for 2026. Management currently expects full-year adjusted earnings per share of $17.73 to $17.87, roughly 14% above the 2025 level.
The company projected 2026 fuel expense of $1.338 billion, based on expected consumption of 1.756 million metric tons. Royal Caribbean said 58% of its forecast consumption for the year was hedged and estimated that a 10% movement in fuel prices would change full-year results by $26 million.
Separately, Royal Caribbean said on Sept. 8 that Hero of the Seas floated for the first time at Finland’s Meyer Turku shipyard after more than 90 million gallons of water were added to its dry dock. The fourth Icon-class vessel is scheduled to begin sailing from Miami in August 2027, and reservations are open.