Core Insights - Royal Caribbean Group reported third-quarter adjusted EPS of $5.75, exceeding estimates of $5.69, while revenue of $5.14 billion fell short of expectations of $5.17 billion, leading to a more than 7% drop in shares intra-day [1] - The company served 2.5 million guests, a 7% increase year-over-year, with load factors at 112%, up one point from the previous year, and net yields increased by 2.8% as reported [1] Financial Performance - Adjusted EPS for the full year 2025 is raised to a range of $15.58–$15.63, indicating a 32% year-over-year growth but slightly below the consensus estimate of $15.69 [2] - The quarterly outperformance was attributed to "higher than expected close-in demand and lower costs" [2] Strategic Developments - Management announced the Royal Beach Club Santorini, an exclusive destination set to open in summer 2026, as part of the expansion of its land-based portfolio from two to eight locations by 2028 [2]

Royal Caribbean Cruises (NYSE:RCL) Q3 2025 Earnings Call October 28, 2025 10:00 AM ET Speaker0Good morning. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Royal Caribbean Group Third Quarter twenty twenty five Earnings Call. All participants are in a listen only mode. After the speaker presentation, there will be a question and answer session.Given the number of participants on today's call, we are strictly limiting each person to one q ...

Royal Caribbean Group announces Royal Beach Club Santorini, opening summer 2026, to deliver unforgettable vacation memories for guests of Royal Caribbean and Celebrity Cruises. "Expanding our Royal Beach Club Collection to include Santorini - one of the world's most popular and beautiful locations - is a bold step forward in growing our vacation portfolio from two to eight by 2028, giving guests more ways to have unforgettable experiences with us," said Jason Liberty, president and CEO, Royal Caribbean Grou ...

Core Insights - Royal Caribbean Group reported strong third quarter results with an Earnings per Share (EPS) of $5.74 and an Adjusted EPS of $5.75, exceeding guidance due to higher demand and lower costs [1][3] - The company raised its full year 2025 Adjusted EPS guidance to a range of $15.58 to $15.63, indicating a 32% year-over-year growth [1][12] - The introduction of the Royal Beach Club Santorini, set to open in 2026, expands the company's land-based destination portfolio from two to eight by 2028 [2][11] Financial Performance - For Q3 2025, net income was $1.6 billion, up from $1.1 billion in Q3 2024, with total revenues reaching $5.1 billion and Adjusted EBITDA of $2.3 billion [3][12] - Capacity increased by 2.9% year-over-year, serving 2.5 million guests, a 7% increase, with a load factor of 112% [4][12] - Gross Margin Yields rose by 3.8% and Net Yields increased by 2.8% as-reported [4][12] Cost Management - Gross Cruise Costs per Available Passenger Cruise Days (APCD) increased by 2.7% year-over-year, while Net Cruise Costs excluding fuel per APCD rose by 4.8% [5][12] - Cost growth was lower than guidance, reflecting strong operational execution and disciplined cost management [5] Future Outlook - The company anticipates a 10.3% capacity increase in Q4 2025 compared to Q4 2024, driven by new ship introductions [8][12] - Expected Net Yields for Q4 2025 are projected to increase by 2.6% to 3.1% as-reported [8][12] - The company is confident in its booked position for 2026, projecting earnings per share to have a $17 handle [2][12] Strategic Initiatives - The Royal Beach Club Santorini aims to enhance the vacation experience by combining local culture with the company's offerings, contributing to the expansion of the vacation ecosystem [10][11] - The company is focused on innovative ships and technology to improve guest experiences and strengthen loyalty [2][14] Shareholder Returns - The company repurchased approximately 1.3 million shares during the third quarter, with $345 million remaining for future repurchases [19] - A 33% increase in the quarterly dividend to $1.00 per share was authorized, reflecting a commitment to returning capital to shareholders [19]