Royal Caribbean Cruises (NYSE:RCL) Updates Q3 2026 Earnings Guidance

Posted by George Bondi on Jul 29th, 2026

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) updated its third quarter 2026 earnings guidance on Tuesday. The company provided EPS guidance of 6.260-6.360 for the period, compared to the consensus estimate of 6.320. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY 2026 guidance to 17.730-17.870 EPS.

Royal Caribbean Cruises Stock Up 0.7%

Shares of NYSE:RCL traded up $2.40 during mid-day trading on Wednesday, hitting $324.90. 315,212 shares of the company traded hands, compared to its average volume of 2,638,537. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.17 and a current ratio of 0.20. Royal Caribbean Cruises has a 52-week low of $232.10 and a 52-week high of $366.50. The firm’s 50 day simple moving average is $291.98 and its 200 day simple moving average is $289.39. The firm has a market cap of $87.14 billion, a P/E ratio of 19.79, a PEG ratio of 1.08 and a beta of 1.76.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.22. Royal Caribbean Cruises had a net margin of 24.36% and a return on equity of 45.25%. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $4.38 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2026 guidance at 17.730-17.870 EPS and its Q3 2026 guidance at 6.260-6.360 EPS. On average, equities analysts anticipate that Royal Caribbean Cruises will post 17.29 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 3rd were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 3rd. Royal Caribbean Cruises’s payout ratio is currently 36.61%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RCL shares. Barclays cut their target price on shares of Royal Caribbean Cruises from $351.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. BMO Capital Markets started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 7th. They set an “outperform” rating and a $370.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $296.00 price objective on shares of Royal Caribbean Cruises in a research report on Friday, May 1st. Zacks Research raised Royal Caribbean Cruises from a “strong sell” rating to a “hold” rating in a report on Thursday, June 18th. Finally, TD Cowen reduced their price target on Royal Caribbean Cruises from $350.00 to $337.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.50.

Read Our Latest Stock Analysis on Royal Caribbean Cruises

Key Headlines Impacting Royal Caribbean Cruises

Here are the key news stories impacting Royal Caribbean Cruises this week:

Positive Sentiment: Profit exceeded expectations: Royal Caribbean reported adjusted EPS of $4.21, above analysts’ roughly $3.99 estimate, while revenue of $4.83 billion was broadly in line with forecasts and increased approximately 6.5% year over year. Strong close-in demand, cost efficiencies and joint-venture performance supported the earnings beat. Royal Caribbean Group Reports Second Quarter Results Above Expectations and Raises Full Year Guidance
Positive Sentiment: Higher bottom-line outlook: The company raised its full-year 2026 adjusted EPS guidance to $17.73-$17.87, above the prior outlook and consensus near $17.32. Third-quarter EPS guidance of $6.26-$6.36 was close to expectations, reinforcing the view that pricing, demand and cost control remain favorable. Royal Caribbean Raises Full-Year Guidance
Positive Sentiment: Capital returns and bookings remain supportive: Royal Caribbean has continued substantial share repurchases, totaling roughly $1.19 billion since late 2025, and investors cited record booking prices and volumes as evidence of resilient cruise demand. Royal Caribbean Not Priced for Perfecta
Neutral Sentiment: Revenue outlook trimmed: Royal Caribbean reduced its 2026 revenue-growth forecast from 10% to approximately 9% and narrowed reported net-yield guidance, while maintaining its constant-currency outlook. The revision reflects uncertainty rather than a major deterioration in underlying demand. Royal Caribbean Q2 Wavy Geopolitics Creates Bumpy Cruise Outlook
Negative Sentiment: Geopolitical and cost risks remain: Prolonged geopolitical uncertainty has pressured bookings, while higher fuel costs and Royal Caribbean’s roughly $23 billion debt load could weigh on results if travel demand weakens or disruptions intensify. Royal Caribbean Cuts Revenue Outlook as Bookings Remain Pressured

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Royal Caribbean Cruises by 25,747.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,202,161 shares of the company’s stock valued at $335,307,000 after acquiring an additional 1,197,510 shares during the period. Forest Avenue Capital Management LP purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $80,848,000. Credit Agricole S A purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $84,992,000. Arrowstreet Capital Limited Partnership boosted its position in Royal Caribbean Cruises by 3,725.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 215,243 shares of the company’s stock valued at $69,648,000 after buying an additional 209,616 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Royal Caribbean Cruises by 18.0% in the second quarter. Raymond James Financial Inc. now owns 1,046,736 shares of the company’s stock worth $327,775,000 after buying an additional 159,690 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

About Royal Caribbean Cruises

(Get Free Report)

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.