Royal Caribbean Group Q3 2025 Earnings Recap

Royal Caribbean Group delivered strong third-quarter results, exceeding expectations with significant growth in capacity and guest satisfaction, while maintaining focus on long-term strategic investments.

Key Takeaways

• Adjusted earnings per share reached $5.75, an 11% increase year-over-year, driven by close-in demand and cost efficiencies.
• Capacity increased 3%, with nearly 2.5 million vacations delivered, marking a 7% year-over-year growth.
• Fourth-quarter capacity is expected to rise by 10%, with projected total revenue growth of approximately 13% year-over-year.
• Full-year adjusted EPS forecast improved to between $15.58 and $15.63, reflecting a robust 32% increase compared to last year.
• The introduction of new exclusive destinations aims to enhance guest experiences and strengthen market position in the growing $2 trillion vacation sector.