Royal Caribbean earnings exceeded analyst expectations in the third quarter of 2026, although revenue missed forecasts. The cruise operator reported non-GAAP earnings per share of $6.57 and revenue of $5.59 billion on October 27.

Key Takeaways

  • Quarterly earnings per share beat estimates by $0.19, while revenue fell short by $20 million.
  • The company forecast adjusted earnings per share of $17.85 to $17.95 for 2026.

Royal Caribbean earnings and revenue split

Revenue increased 9.0% from the third quarter of 2025, despite missing the analyst consensus. The earnings beat and revenue miss compare the results with forecasts, while the revenue growth figure compares sales with the same quarter a year earlier.

Royal Caribbean Group operates cruise brands including Royal Caribbean International, Celebrity Cruises and Silversea. Its business relies on passenger ticket sales as well as onboard spending.

Full-year outlook

The company's 2026 adjusted earnings guidance of $17.85 to $17.95 per share is above the consensus estimate of $17.83. Guidance is a forecast, rather than a reported result.

Royal Caribbean also expects full-year revenue to grow 9% and net yields to rise approximately 2.7% on an as-reported basis.

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