---
schema_version: "secwatch.filing_event.v1"
accession: "0000884887-25-000093"
form_type: "8-K"
ticker: "RCL"
cik: "0000884887"
company_name: "ROYAL CARIBBEAN CRUISES LTD"
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T04:30:56.076456+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Royal Caribbean Q1 EPS $2.70 beats guidance; raises FY2025 EPS outlook to $14.55-$15.55

## Summary
- Q1 adjusted EPS $2.71 vs prior year $1.77; total revenues $4.0B; net income $0.7B.
- Net Yields up 4.7% as-reported; load factor 109%; record bookings during WAVE season.
- Full-year 2025 adjusted EPS guidance raised to $14.55-$15.55 (28% YoY growth).
- Q2 adjusted EPS guidance $4.00-$4.10; net yields expected +4.4% to +4.9% as-reported.
- S&P upgraded to investment grade; completed exchange of $213M convertible notes for stock/cash.

## SEC filing metadata
- accession: 0000884887-25-000093
- form_type: 8-K
- ticker: RCL
- cik: 0000884887
- company_name: ROYAL CARIBBEAN CRUISES LTD
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884887/000088488725000093/0000884887-25-000093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884887/000088488725000093/rcl-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884887-25-000093
- JSON: https://secwatch.observer/filing/0000884887-25-000093.json
- Plain text: https://secwatch.observer/filing/0000884887-25-000093.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.