HighGravityDataRoyal Caribbean Cruises — Oct 28, 2025 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-25-000146
Showing in the filing
Adjusted EPS
“$15.58 to $15.63, representing 32% year-over-year growth”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 64
Adjusted EPS for FY2025
“$15.58 to $15.63, representing 32% year-over-year growth”
Adjusted EPS year-over-year growth for FY2025
“32% year-over-year growth”
Earnings per share for FY2026
“a $17 handle”
NCC, excluding Fuel, per APCD for FY2025
“expected to increase approximately 0.1% as-reported and decline approximately (0.1%) in Constant Currency”
NCC, excluding Fuel, per APCD (Constant Curr… for FY2025
“approximately (0.1%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“Approximately (0.1%)”
Capacity increase for Q4 FY2025
“10.3%”
Net Yields for Q4 FY2025
“expected to increase 2.6% to 3.1% as-reported and 2.2% to 2.7% in Constant Currency”
Net Yields (as-reported) for Q4 FY2025
“2.6% to 3.1%”
Net Yields vs. 2024 (As-Reported) for Q4 FY2025
“2.6% to 3.1%”
Net Yields (Constant Currency) for Q4 FY2025
“2.2% to 2.7%”
Net Yields vs. 2024 (Constant Currency) for Q4 FY2025
“2.2% to 2.7%”
NCC, excluding Fuel, per APCD for Q4 FY2025
“expected to decrease (6.2%) to (5.7%) as-reported and (6.6%) to (6.1%) in Constant Currency”
Land-based destination portfolio count for FY2028
“two to eight”
Fuel expense included in for Q4 FY2025
“$286 million”
Forecasted fuel consumption for Q4 FY2025
“438,000 metric tons”
Forecasted consumption hedged via swaps for FY2025
“68%”
Forecasted fuel consumption hedged via swaps for Q4 FY2025
“68%”
Percent Hedged (fwd. consumption) for Q4 FY2025
“68%”
Forecasted consumption hedged via swaps for FY2026
“60%”
Forecasted consumption hedged via swaps for FY2027
“47%”
Forecasted consumption hedged via swaps for FY2028
“26%”
Annual average cost per metric ton of hedge … for FY2025
“$480”
Annual average cost per metric ton of hedge … for FY2026
“$474”
Annual average cost per metric ton of hedge … for FY2027
“$393”
Annual average cost per metric ton of hedge … for FY2028
“$416”
Fuel Consumption (metric tons) for Q4 FY2025
“438,000”
Fuel Consumption (metric tons) for FY2025
“1,712,000”
Fuel Expenses for Q4 FY2025
“$286 million”
Fuel Expenses for FY2025
“$1,140 million”
NCC, excluding Fuel, per APCD (Constant Curr… for Q4 FY2025
“(6.6%) to (6.1%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q4 FY2025
“(6.6%) to (6.1%)”
Net Cruise Costs per APCD vs. 2024 (Constant… for Q4 FY2025
“(6.9%) to (6.4%)”
NCC, excluding Fuel, per APCD (as-reported) for Q4 FY2025
“(6.2%) to (5.7%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q4 FY2025
“(6.2%) to (5.7%)”
Net Yields (as-reported and Constant Currency) for FY2025
“3.5% to 4.0%”
Net Yields vs. 2024 (Constant Currency) for FY2025
“3.5% to 4.0%”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for FY2025
“Approximately (1.0%)”
Net Cruise Costs per APCD vs. 2024 (Constant… for FY2025
“Approximately (1.2%)”
APCDs for Q4 FY2025
“14.0 million”
APCDs for FY2025
“53.3 million”
Capacity change vs. 2024 for Q4 FY2025
“10.3%”
Depreciation and amortization for Q4 FY2025
“$445 to $455 million”
Depreciation and amortization for FY2025
“$1,705 to $1,715 million”
Net Interest, excluding loss on extinguishme… for Q4 FY2025
“$245 to $255 million”
Net Interest, excluding loss on extinguishme… for FY2025
“$945 to $955 million”
Adjusted EPS for Q4 FY2025
“$2.74 to $2.79”
1% Change in Net Yields for Q4 FY2025
“$34 million”
1% Change in Net Yields for FY2025
“$141 million”
1% Change in NCC excluding Fuel for Q4 FY2025
“$19 million”
1% Change in NCC excluding Fuel for FY2025
“$68 million”
1% Change in Currency for Q4 FY2025
“$5 million”
10% Change in Fuel prices for Q4 FY2025
“$13 million”
100 basis pt. Change in SOFR for Q4 FY2025
“$1 million”
Quarterly dividend increase
“33%”
Quarterly dividend per common share
“$1.00 per common share”
Capital expenditures for FY2025
“approximately $5 billion”
Non-new ship related capital expenditures for FY2025
“approximately $1.5 billion”
Capacity changes vs. 2024 for FY2025
“5.5%”
Capacity changes for FY2028
“6%”
Capacity changes for FY2026
“6%”
Capacity changes for FY2027
“4%”
Perfecta Program Adjusted EPS CAGR target for the long term
“20% compound annual growth rate in Adjusted EPS compared to 2024”
Perfecta Program ROIC target for FY2027
“17% or higher”
Exhibit 99.1 · the passage around this item
… earlier in the release
and Adjusted EPS of $5.75 . These results were better than the company's guidance primarily due to higher than expected close-in demand and lower costs. The company is raising its full year 2025 Adjusted EPS guidance to $15.58 to $15.63, representing 32% year-over-year growth. This increase is mainly driven by the better-than-expected third quarter performance which is more than offsetting the minimal impact in the fourth quarter from recent adverse weather, and the unplanned extension of the temporary closure of one of the company's exclusive destinations in Labadee, Haiti. "We continue to see strong momentum across our business, powered by accelerated demand, growing loyalty, and guest satisfaction that is at all-time highs. Our commercial flywheel - combining innovative ships, distinctive destinations, and world-class brands - continues to drive sustained growth and guests' trust in our ability to deliver the best vacation experiences responsibly," said Royal Caribbean Group President and CEO Jason Liberty. "Looking ahead, while it's still early in the planning process, our strong booked position gives us confidence for 2026 and beyond. With our proven formula of moderate yield growth, strong cost controls, and disciplined capital allocation, we expect 2026 earnings per share to have a $17 handle, positioning us well to achieve our 2027 Perfecta targets." "Today's announcement of the new Royal Beach Club Santorini, opening in 2026, reflects our visi
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.