Royal Caribbean Cruises Ltd. raised its 2026 adjusted EPS guidance to $17.73-$17.87, roughly 14% above 2025 levels, as the cruise operator reported second-quarter 2026 revenue of $4.83 billion, up from $4.54 billion a year earlier, with diluted EPS of $4.20 and adjusted EPS of $4.21. The company, which operates 71 ships across Royal Caribbean, Celebrity Cruises and Silversea plus a 50% stake in TUI Cruises, said higher capacity and pricing drove the revenue increase while strong demand and cost control supported earnings. Management expects 6.6% capacity growth in 2026 alongside 1.75%-2.25% constant-currency net yield growth, though for the third quarter it guided to 8.5% capacity growth with roughly flat constant-currency net yields. The stock trades at 14.51 times trailing earnings and 11.40 times forward earnings, with a PEG ratio of 0.95, a price-to-sales ratio of 3.41 and an enterprise-value-to-EBITDA multiple of 11.61. Adjusted EPS reached $15.64 in 2025, up from diluted EPS of $10.94 in 2024 and $15.61 in 2025.
Royal Caribbean Cruises LtdRoyal Caribbean raised its 2026 adjusted EPS guidance to $17.73-$17.87 and reported Q2 revenue growth to $4.83B with adjusted EPS of $4.21.
