Royal Caribbean Q2 adjusted EPS $4.21 beats guidance; raises FY2026 outlook to $17.73-$17.87

ROYAL CARIBBEAN CRUISES LTD

Q2 revenue $4.8B (+6% YoY); net income $1.1B; adjusted EPS $4.21 vs prior guidance.
Full-year 2026 adjusted EPS raised to $17.73-$17.87, representing 14% YoY growth.
Q3 2026 adjusted EPS guided $6.26-$6.36; net yields expected flat vs 2025.
Returned over $600M to shareholders in Q2 via $199M buybacks and $404M dividends.
Liquidity $6.9B; capacity growth 6.6% for 2026; Legend of the Seas delivered.

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