HighGravityDataRoyal Caribbean Cruises — Jul 29, 2025 release
Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-25-000140
Showing in the filing
Fuel expense
“$298 million”
Period
Q3 FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 58
Adjusted EPS for FY2025
“$15.41 to $15.55”
NCC, excluding Fuel, per APCD for FY2025
“expected to increase approximately 0.5% as-reported and 0.3% in Constant Currency”
Capacity for Q3 FY2025
“increase 2.9% compared to third quarter 2024”
Net Yields for Q3 FY2025
“expected to increase 2.3% to 2.8% as-reported and 2.0% to 2.5% in Constant Currency”
Net Yields vs. 2024 (As-Reported) for Q3 FY2025
“2.3% to 2.8%”
Net Yields vs. 2024 (Constant Currency) for Q3 FY2025
“2.0% to 2.5%”
NCC, excluding Fuel, per APCD for Q3 FY2025
“expected to increase 6.4% to 6.9% as-reported and 6.0% to 6.5% in Constant Currency”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q3 FY2025
“6.0% to 6.5%”
Percent Hedged (fwd. consumption) for Q3 FY2025
“64%”
Percent hedged via swaps for Q3 FY2025
“64%”
Percent Hedged (fwd. consumption) for FY2025
“66%”
Percent hedged via swaps (forecasted consump… for FY2025
“66%”
Percent hedged via swaps (forecasted consump… for FY2026
“60%”
Percent hedged via swaps (forecasted consump… for FY2027
“47%”
Percent hedged via swaps (forecasted consump… for FY2028
“16%”
Annual average cost per metric ton of hedge … for FY2025
“approximately $482”
Annual average cost per metric ton of hedge … for FY2026
“$474”
Annual average cost per metric ton of hedge … for FY2027
“$393”
Annual average cost per metric ton of hedge … for FY2028
“$426”
Fuel Consumption (metric tons) for Q3 FY2025
“433,000”
Fuel Consumption (metric tons) for FY2025
“1,718,000”
Fuel expense for Q3 FY2025
“$298 million”
Fuel Expenses for FY2025
“$1,143 million”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for Q3 FY2025
“5.4% to 5.9%”
Net Cruise Costs per APCD vs. 2024 (Constant… for Q3 FY2025
“5.0% to 5.5%”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q3 FY2025
“6.4% to 6.9%”
Net Yields vs. 2024 (Constant Currency) for FY2025
“3.5% to 4.0%”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for FY2025
“Approximately (0.6%)”
Net Cruise Costs per APCD vs. 2024 (Constant… for FY2025
“Approximately (0.8%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“Approximately 0.5%”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“Approximately 0.3%”
APCDs for Q3 FY2025
“13.7 million”
APCDs for FY2025
“53.3 million”
Capacity change vs. 2024 for Q3 FY2025
“2.9%”
Capacity change vs. 2024 for FY2025
“5.5%”
Depreciation and amortization for Q3 FY2025
“$425 to $435 million”
Depreciation and amortization for FY2025
“$1,700 to $1,710 million”
Net Interest, excluding loss on extinguishme… for Q3 FY2025
“$235 to $245 million”
Net Interest, excluding loss on extinguishme… for FY2025
“$930 to $940 million”
Adjusted EPS for Q3 FY2025
“$5.55 to $5.65”
1% Change in Net Yields for Q3 FY2025
“$40 million”
1% Change in Net Yields for FY2025
“$141 million”
1% Change in NCC excluding Fuel for Q3 FY2025
“$16 million”
1% Change in NCC excluding Fuel for FY2025
“$68 million”
1% Change in Currency for Q3 FY2025
“$7 million”
1% Change in Currency for FY2025
“$12 million”
10% Change in Fuel prices for Q3 FY2025
“$15 million”
10% Change in Fuel prices for FY2025
“$27 million”
100 basis pt. Change in SOFR for Q3 FY2025
“$2 million”
100 basis pt. Change in SOFR for FY2025
“$7 million”
Capital expenditures for FY2025
“approximately $5 billion”
Non-new ship related capital expenditures for FY2025
“$1.6 billion”
Capacity changes for FY2025
“5.5%”
Capacity changes for FY2027
“5%”
Capacity changes for FY2028
“6%”
Capacity changes for FY2026
“6%”
Adjusted EPS CAGR target (Perfecta Program) for the long term
“20% compound annual growth rate”
ROIC target (Perfecta Program) for FY2027
“17% or higher”
Exhibit 99.1 · the passage around this item
… earlier in the release
The annual average cost per metric ton of the hedge portfolio is approximately $482, $474, $393, and $426 for 2025, 2026, 2027, and 2028, respectively. The company provided the following guidance for the third quarter and full year 2025: FUEL STATISTICS Third Quarter 2025 Full Year 2025 Fuel Consumption (metric tons) 433,000 1,718,000 Fuel Expenses $298 million $1,143 million Percent Hedged (fwd. consumption) 64% 66% GUIDANCE As-Reported Constant Currency Third Quarter 2025 Net Yields vs. 2024 2.3% to 2.8% 2.0% to 2.5% Net Cruise Costs per APCD vs. 2024 5.4% to 5.9% 5.0% to 5.5% Net Cruise Costs per APCD ex. Fuel vs. 2024 6.4% to 6.9% 6.0% to 6.5% Full Year 2025 Net Yields vs. 2024 3.5% to 4.0% 3.5% to 4.0% Net Cruise Costs per APCD vs. 2024 Approximately (0.6%) Approximately (0.8%) Net Cruise Costs per APCD ex. Fuel vs. 2024 Approximately 0.5% Approximately 0.3% GUIDANCE Third Quarter 2025 Full Year 2025 APCDs 13.7 million 53.3 million Capacity change vs. 2024 2.9% 5.5% Depreciation and amortization $425 to $435 million $1,700 to $1,710 million Net Interest, excluding loss on extinguishment of debt $235 to $245 million $930 to $940 million Adjusted EPS $5.55 to $5.65 $15.41 to $15.55 SENSITIVITY Third Quarter 2025 Full Year 2025 1% Change in Net Yields $40 million $141 million 1% Change in NCC excluding Fuel $16 million $68 million Third Quarter 2025 Remainder of Year 2025 1% Change in Currency $7 million $12 million 10% Change in Fuel prices $15 million $27 million 100 basis pt. Change in SOFR $2 million $7 million Exchange rates used
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.