Core Viewpoint - Royal Caribbean Cruises Ltd. (RCL) is a leading global vacation company with a market cap of $94.9 billion, operating 69 ships across over 1,000 destinations, and is expanding its offerings in private destinations and river cruising [1] Performance Summary - RCL shares have outperformed the broader market over the past 52 weeks, returning 31.6% compared to the S&P 500 Index's 15.6% [2] - Year-to-date, RCL shares are up 24.8%, while the S&P 500 has only risen by 1.7% [2] - RCL has also outpaced the State Street Consumer Discretionary Select Sector SPDR ETF's 4.2% gain over the same period [3] Financial Results - In Q4 2025, RCL reported adjusted EPS of $2.80 and revenue of $4.26 billion, which were weaker than expected; however, shares rose by 18.7% following the announcement [4] - For the full year 2025, RCL achieved adjusted EPS of $15.64 on $17.9 billion in revenue, exceeding guidance due to strong demand and record bookings for 2026 [4] - The company provided an upbeat adjusted EPS guidance for 2026 of $17.70 - $18.10, indicating a 23% CAGR under the Perfecta program [4] Analyst Expectations - Analysts project RCL's adjusted EPS to grow by 15.7% year-over-year to $18.09 for the fiscal year ending December 2026 [5] - RCL has a mixed earnings surprise history, beating consensus estimates in three of the last four quarters [5] - Among 25 analysts covering RCL, the consensus rating is a "Moderate Buy," with 17 "Strong Buy" ratings, one "Moderate Buy," and seven "Holds" [5] Analyst Ratings - On January 30, TD Cowen analyst Kevin Kopelman reiterated a "Buy" rating on RCL with a price target of $350 [6]