HighGravityDataRoyal Caribbean Cruises — Apr 30, 2026 release
Fiscal 2026 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-26-000024
Showing in the filing
Net Yields vs. 2025 (Constant Currency)
“Approximately 0.2%”
Period
Q2 FY2026
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 62
Revenue growth for FY2026
“roughly 10%”
Net Yields for FY2026
“2.3% to 3.3% as-reported and 1.5% to 2.5% in Constant Currency”
Net Yields vs. 2025 (As-Reported) for FY2026
“2.3% to 3.3%”
Net Yields vs. 2025 (Constant Currency) for FY2026
“1.5% to 2.5%”
Fuel consumption hedged via swaps for FY2026
“59%”
Fuel hedge percentage for remainder of year for FY2026
“59% hedged”
Hedged (fwd. consumption) for FY2026
“59%”
Adjusted EPS year-over-year growth for FY2026
“11%”
Perfecta Program Adjusted EPS CAGR (first tw… for the long term
“21%”
Perfecta Program Adjusted EPS CAGR target for the long term
“20%”
Net Yields for Q2 FY2026
“approximately 0.9% as-reported and approximately 0.2% in Constant Currency”
Net Yields vs. 2025 (Constant Currency) for Q2 FY2026
“Approximately 0.2%”
NCC, excluding Fuel, per APCD for Q2 FY2026
“4.9% to 5.4% as-reported and 4.6% to 5.1% in Constant Currency”
NCC, excluding Fuel, per APCD (Constant Curr… for Q2 FY2026
“4.6% to 5.1%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for Q2 FY2026
“4.6% to 5.1%”
Adjusted EPS year-over-year growth (ex geopo… for Q2 FY2026
“approximately 11%”
Fuel hedged via swaps for Q2 FY2026
“60%”
Fuel costs for FY2026
“approximately $1.3 billion”
Fuel costs, net of hedging for FY2026
“approximately $1.3 billion”
Fuel expense for FY2026
“approximately $1.3 billion”
Fuel consumption hedged via swaps for FY2027
“49%”
Fuel consumption hedged via swaps for FY2028
“30%”
Fuel consumption hedged via swaps for FY2029
“15%”
Average hedge cost per metric ton for FY2026
“$475”
Average hedge cost per metric ton for FY2027
“$408”
Average hedge cost per metric ton for FY2028
“$424”
Average hedge cost per metric ton for FY2029
“$451”
Fuel Consumption (metric tons) for Q2 FY2026
“423,000”
Fuel Consumption (metric tons) for FY2026
“1,755,000”
Fuel expense for Q2 FY2026
“$346 million”
Fuel Expenses for Q2 FY2026
“$346 million”
Fuel Expenses for FY2026
“$1,349 million”
Percent Hedged (fwd. consumption) for Q2 FY2026
“60.0%”
Percent Hedged (fwd. consumption) for FY2026
“59.0%”
Net Yields vs. 2025 (As-Reported) for Q2 FY2026
“Approximately 0.9%”
Net Cruise Costs per APCD vs. 2025 (As-Repor… for Q2 FY2026
“6.8% to 7.3%”
Net Cruise Costs per APCD vs. 2025 (Constant… for Q2 FY2026
“6.5% to 7.0%”
NCC, excluding Fuel, per APCD (as-reported) for Q2 FY2026
“4.9% to 5.4%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for Q2 FY2026
“4.9% to 5.4%”
Net Cruise Costs per APCD vs. 2025 (As-Repor… for FY2026
“Approximately 1.9%”
Net Cruise Costs per APCD vs. 2025 (Constant… for FY2026
“Approximately 1.5%”
NCC, excluding Fuel, per APCD (as-reported) for FY2026
“approximately 0.5%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for FY2026
“Approximately 0.5%”
APCDs for Q2 FY2026
“13.6 million”
APCDs for FY2026
“56.9 million”
Capacity change vs. 2025 for Q2 FY2026
“4.9%”
Capacity change vs. 2025 for FY2026
“6.7%”
Depreciation and amortization for Q2 FY2026
“$465 to $475 million”
Depreciation and amortization for FY2026
“$1,910 to $1,920 million”
Net Interest, excluding loss on extinguishme… for Q2 FY2026
“$230 to $240 million”
Net Interest, excluding loss on extinguishme… for FY2026
“$985 to $995 million”
Adjusted EPS for Q2 FY2026
“$3.83 to $3.93”
Adjusted EPS for FY2026
“$17.10 to $17.50”
Capital expenditures for FY2026
“approximately $5 billion”
Legend of the Seas delivery for Q2 FY2026
“second quarter of 2026”
Non-new ship related capital expenditures for FY2026
“$1.8 billion”
Capacity changes for FY2026
“6.7%”
Capacity change vs. 2025 for FY2029
“7%”
Capacity change vs. 2025 for FY2027
“4%”
Capacity changes for FY2027
“4%, 6%, and 7%”
Capacity change vs. 2025 for FY2028
“6%”
Private destinations portfolio expansion for FY2028
“from three to eight”
Exhibit 99.1 · the passage around this item
… earlier in the release
That dynamic aligns well with the attractive value proposition of our experiences, which is why we have done so well historically, even during times of uncertainty.” Second Quarter 2026 Net Yields are expected to increase approximately 0.9% as-reported and approximately 0.2% in Constant Currency as compared to 2025. The second quarter has higher exposure to higher-yielding itineraries affected by recent global events, with these dynamics also impacting the third quarter. NCC, excluding Fuel, per APCD, is expected to increase 4.9% to 5.4% as-reported and 4.6% to 5.1% in Constant Currency as compared to 2025. Second quarter cost growth is impacted by significantly increased drydock days year over year, as well as elevated crew movement costs. Based on current fuel pricing, interest rates, currency exchange rates and the factors detailed above, the company expects second quarter Adjusted EPS to be in the range of $3.83 to $3.93. Adjusted EPS growth for the second quarter would have been approximately 11% excluding geopolitical impacts and other items affecting year-over-year comparability, including the timing of drydocks. Page 1 Fuel Expense Bunker pricing, net of hedging, for the first quarter was $613 per metric ton and consumption was 432,000 metric tons. The company does not forecast fuel prices and its fuel cost calculations are based on current at-the-pump prices, net of hedging impacts. Based on current fuel prices, the company has included $346
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.