Royal Caribbean Group reported first quarter 2026 revenue of $4.5 billion and EPS of $3.48. Results exceeded the company's guidance, driven by strong close-in demand and onboard revenue which led to higher than expected Net Yields. The company raised its full-year Adjusted EPS guidance to a range of $17.10 to $17.50, despite noting some booking moderation for Mediterranean itineraries due to geopolitical developments.
Key Highlights
- Total revenue grew 11% year-over-year to $4.5 billion, as the company served 2.5 million guests during the quarter.
- Net Yields, a key pricing metric, increased by 3.6% as-reported (2.0% in constant currency), which exceeded the company's guidance.
- The company achieved a load factor of 109% for the quarter and returned approximately $1.1 billion to shareholders through share repurchases and dividends.