Royal Caribbean's second-quarter revenue grew 6% year-over-year, raising its full-year performance guidance.

On July 30, Royal Caribbean Group released its financial report for the second quarter of 2026, with adjusted earnings per share reaching $4.21, exceeding market expectations. Total revenue for the quarter was $4.8 billion, up 6% year-on-year; net profit was $1.1 billion, with a passenger load factor as high as 110%. Benefiting from strong last-minute booking demand, effective cost control, and contributions from joint ventures, the company simultaneously raised its full-year performance outlook, projecting adjusted earnings per share for the year to be between $17.73 and $17.87, an approximate 14% year-on-year increase.

Group President and CEO Jason Liberty stated that the second-quarter performance validated the brand's strength and the appeal of its vacation experiences, with full-year revenue and earnings expected to achieve approximately double-digit growth. He specifically mentioned that the third ship in the Icon series, "Icon of the Seas," which launched this month, has become an important vehicle for reshaping experiences and creating returns. Additionally, the company is deepening guest connections through digital platforms, enhancing repeat purchase rates, and striving to capture a larger share of the $2 trillion global vacation market.

Operationally, the company's capacity increased by 5% year-on-year this quarter, with a total of 2.4 million guests served, a 6% year-on-year increase, and a cruise passenger load factor as high as 110%, indicating strong market demand. Financially, net yield for the second quarter grew by 1.2% at constant currency, while cruise net costs (excluding fuel) grew by 3.9% at constant currency. For the third-quarter outlook, net yield is expected to remain roughly flat year-on-year, total revenue is anticipated to grow by 8% year-on-year, and adjusted earnings per share are projected to be between $6.26 and $6.36.

Group Chief Financial Officer Naftali Holtz pointed out that consumer demand remains strong, with spending on onboard and destination experiences continuing to grow. Early bookings for 2027 are ahead of historical levels, and there are signs of improvement in itineraries affected by geopolitical factors.

It is understood that Royal Caribbean Group operates 71 cruise ships across five major brands and holds a 50% stake in TUI Cruises and Hapag-Lloyd Cruises.