HighGravityDataRoyal Caribbean Cruises — Jul 28, 2026 release
Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-26-000036
Showing in the filing
Total revenue growth
“8%”
Period
Q3 FY2026
Measure
GAAP-tied
Source
Prose
All guidance in this release · 53
Revenue growth for FY2026
“9%”
Net Yields for FY2026
“2.35% to 2.85% as-reported and 1.75% to 2.25% in Constant Currency”
Net Yields vs. 2025 (Constant Currency) for FY2026
“1.75% to 2.25%”
Net Yields (As-Reported & Constant Currency) for Q3 FY2026
“approximately flat”
Perfecta Program Adjusted EPS CAGR (first tw… for the long term
“23%”
Perfecta Program Adjusted EPS CAGR target for the long term
“20%”
Total revenue growth for Q3 FY2026
“8%”
NCC excluding Fuel per APCD (As-Reported) for Q3 FY2026
“1.7% to 1.2%”
NCC, excluding Fuel, per APCD for Q3 FY2026
“1.7% to 1.2% as-reported and 1.6% to 1.1% in Constant Currency”
NCC excluding Fuel per APCD (Constant Curren… for Q3 FY2026
“1.6% to 1.1%”
Fuel Forecasted Consumption Hedged via swaps for FY2026
“58%”
Fuel Hedged via swaps (Q3) for Q3 FY2026
“58%”
Fuel Forecasted Consumption Hedged via swaps for FY2027
“53%”
Fuel Forecasted Consumption Hedged via swaps for FY2028
“29%”
Fuel Forecasted Consumption Hedged via swaps for FY2029
“14%”
Hedge Portfolio Annual Average Cost per Metr… for FY2026
“approximately $474”
Fuel Consumption (metric tons) for Q3 FY2026
“441,000”
Fuel Consumption (metric tons) for FY2026
“1,756,000”
Fuel expense for Q3 FY2026
“$362 million”
Fuel Expense (Q3) for Q3 FY2026
“$362 million”
Fuel Expenses for FY2026
“$1,338 million”
Percent Hedged (fwd. consumption) for Q3 FY2026
“58.0%”
Net Cruise Costs per APCD vs. 2025 (As-Repor… for Q3 FY2026
“0.3% to 0.8%”
Net Cruise Costs per APCD vs. 2025 (Constant… for Q3 FY2026
“0.4% to 0.9%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for Q3 FY2026
“(1.7)% to (1.2)%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for Q3 FY2026
“(1.6)% to (1.1)%”
Net Yields vs. 2025 (As-Reported) for FY2026
“2.35% to 2.85%”
Net Cruise Costs per APCD vs. 2025 (As-Repor… for FY2026
“Approximately 1.7%”
Net Cruise Costs per APCD vs. 2025 (Constant… for FY2026
“Approximately 1.4%”
NCC, excluding Fuel, per APCD (as-reported) for FY2026
“approximately 0.4%”
Net Cruise Costs per APCD ex. Fuel vs. 2025 … for FY2026
“Approximately 0.4%”
APCDs for Q3 FY2026
“14.9 million”
APCDs for FY2026
“56.9 million”
Capacity change vs. 2025 for Q3 FY2026
“8.5%”
Capacity change vs. 2025 for FY2026
“6.6%”
Depreciation and amortization for Q3 FY2026
“$485 to $495 million”
Depreciation and amortization for FY2026
“$1,905 to $1,915 million”
Net Interest, excluding loss on extinguishme… for Q3 FY2026
“$255 to $265 million”
Net Interest, excluding loss on extinguishme… for FY2026
“$980 to $990 million”
Adjusted EPS for Q3 FY2026
“$6.26 to $6.36”
Adjusted EPS for Q3 FY2026
“$6.26 to $6.36”
Adjusted EPS for FY2026
“$17.73 to $17.87”
Share Repurchase Program Remaining Authoriza…
“$805 million”
Capital expenditures for FY2026
“approximately $4.7 billion”
Non-new ship related capital expenditures for FY2026
“$1.6 billion”
Capacity changes for FY2026
“6.6%”
Capacity change vs. 2025 for FY2028
“6%”
Capacity change vs. 2025 for FY2027
“4%”
Capacity changes for FY2027
“4%, 6%, and 7%”
Capacity change vs. 2025 for FY2029
“7%”
Perfecta Program ROIC target (Definitions) for FY2027
“17% or higher”
Private Destinations Portfolio for FY2028
“from three to eight”
River Cruising Launch for FY2027
“enter river cruising in 2027”
Exhibit 99.1 · the passage around this item
… earlier in the release
While still very early, booking trends for 2027 are encouraging and pacing ahead of historical levels, including for itineraries where demand was impacted by geopolitical developments this year.” Third Quarter 2026 Net Yields are expected to be approximately flat as-reported and in Constant Currency as compared to 2025, reflecting continued healthy demand and pricing at record levels leading to expected total revenue growth of 8%. NCC, excluding Fuel, per APCD, is expected to decrease 1.7% to 1.2% as-reported and 1.6% to 1.1% in Constant Currency as compared to 2025. Based on current fuel pricing, interest rates, currency exchange rates and the factors detailed above, the company expects third quarter Adjusted EPS to be in the range of $6.26 to $6.36. Fuel Expense Bunker pricing, net of hedging, for the second quarter was $839 per metric ton and consumption was 422,000 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 $362 million of fuel expense in its third quarter guidance at a forecasted consumption of 441,000 metric tons, which is 58% hedged via swaps. Forecasted consumption is 58%, 53%, 29%, and 14% hedged via swaps for 2026, 2027, 2028, and 2029 respectively. The annual average cost per metric ton of the hedge portfolio is approximately $474, $405, $424, and $451 for 2026, 2027, 2028, and 2029 respectively. The company provided the following guidance for the third quarter and full year 2026: FUEL STATISTICS Third Quarter 2026 Full Year 2026 Fuel
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.