Royal Caribbean Cruises .(RCL) - 2025 Q3 - Earnings Call Presentation

Q3 2025 Performance - Load Factor reached 112%[8] - Net Yield Growth vs 2024 was 24% in constant currency[8] - NCCx Growth vs 2024 was 43% in constant currency[8] - Adjusted EBITDA was $23 billion, a 7% increase compared to 2024[8] - Adjusted EBITDA Margin was 446%[8] - Adjusted Earnings Per Share reached $575, an 11% increase compared to 2024[8] - Operating Cash Flow was $15 billion[8] FY 2025 Guidance - APCDs are projected to be 533 million[13] - Net Yield Growth vs 2024 is expected to be between 35% and 40% in constant currency[13] - NCCx Growth vs 2024 is expected to be approximately (01%) in constant currency[13] - Adjusted Earnings Per Share is projected to be between $1558 and $1563[13] Q4 2025 Guidance - APCDs are projected to be 14 million[17] - Net Yield Growth vs 2024 is expected to be between 22% and 27% in constant currency[17] - NCCx Growth vs 2024 is expected to be between (66%) and (61%) in constant currency[17] - Adjusted Earnings Per Share is projected to be between $274 and $279[17] Additional Information - The company expects 32% year-over-year growth in Adjusted EPS[15]