Royal Caribbean (NYSE: RCL) reported Q1 EPS of $3.60, $0.38 better than the analyst estimate of $3.22. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.46 billion.

Full Year 2026 Outlook:

Revenue is expected to grow roughly 10% year over year. Net Yields are expected to increase 2.3% to 3.3% as-reported and 1.5% to 2.5% in Constant Currency, driven by recent geopolitical developments which affected Mediterranean and West Coast of Mexico itineraries.
NCC, excluding Fuel, per APCD are expected to increase approximately 0.5% as-reported and be approximately flat in Constant Currency.
Fuel costs, based on current at-the-pump rates, net of hedging, are expected to be approximately $1.3 billion, or $0.62 per share higher than prior guidance. The company is 59% hedged for the remainder of 2026 at below market rates.
Adjusted EPS is expected to be in the range of $17.10 to $17.50, representing 11% year over year growth, and a 21% CAGR over the first two years of the company\'s Perfecta program, which targets a 20% earnings CAGR from 2024 to 2027 and ROIC in the high teens by 2027.

For earnings history and earnings-related data on Royal Caribbean (RCL) click here.