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
Fuel hedged via swaps
“60%”
Period
Q2 FY2026
Measure
Company-defined measure
Source
Prose
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
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 million of fuel expense in its second quarter guidance at a forecasted consumption of 423,000 metric tons, which is 60% hedged via swaps. For the full year, the company expects fuel expense to be approximately $1.3 billion based on current at-the-pump prices, net of hedging impacts; however fuel expense would be approximately 4% lower if rates were based on the forward curve. Forecasted consumption is 59%, 49%, 30%, and 15% hedged via swaps for 2026, 2027, 2028, and 2029 respectively. The annual average cost per metric ton of the hedge portfolio is approximately $475, $408, $424, and $451 for 2026, 2027, 2028, and 2029 respectively. The company provided the following guidance for the second quarter and full year 2026: FUEL STATISTICS Second Quarter 2026 Full Year 2026 Fuel Consumption (metric tons) 423,000 1,755,000 Fuel Expenses $346 million $1,349 million Second Quarter 2026 Remainder of Year 2026 Percent Hedged (fwd. consumption) 60.0% 59.0% GUIDANCE As-Reported Constant Currency Second Quarter 2026 Net Yields vs. 2025 Approximately 0.9% Approximately 0.2% Net Cruise Costs per APCD vs. 2025 6.8% to 7.3% 6.5% to 7.0% Net Cruise Costs per APCD ex. Fuel vs. 2025 4.9% to 5.4% 4.6% to 5.1% Full Year 2026 Net Yields vs. 2025 2.3% to 3.3% 1.5% to 2.5% Net Cruise Costs per APCD vs. 2025 Approximately 1.
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.