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
Non-new ship related capital expenditures
“$1.6 billion”
Period
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
1 Capital Expenditures and Capacity Guidance Capital expenditures for the full year 2025 are expected to be approximately $5 billion, based on current foreign exchange rates, and are predominantly related to the new ship order book and land-based destination initiatives. Non-new ship related capital expenditures are expected to be $1.6 billion. Capacity changes for 2025 are expected to be 5.5% compared to 2024. Capacity changes for 2026, 2027, and 2028 are expected to be 6%, 5%, and 6%, respectively. These figures do not include potential ship sales or additions that the company may elect in the future. 2 Conference call scheduled The company has scheduled a conference call at 10 a.m. Eastern Time today. This call can be heard, either live or on a delayed basis, on the company's investor relations website at www.rclinvestor.com . Definitions Selected Operational and Financial Metrics Adjusted Earnings per Share ("Adjusted EPS") is a non-GAAP measure that represents Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. (as defined below) divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful whe n assessing our profitability on a comparative basis. For the periods presented , these items included (i) ot
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.