Royal Caribbean Just Raised Its Forecast, and 2027 Looks Even Busier

Royal Caribbean Group reported third-quarter results on October 27 that beat its own guidance and led it to raise its full-year outlook. Revenue rose 9 percent to $5.6 billion, adjusted earnings came to $6.57 a share against $5.75 a year earlier, and the company carried 2.7 million guests, up 9 percent, at a load factor of 112 percent. Net yields rose 0.9 percent, helped by stronger-than-expected close-in demand in Europe and the Caribbean.

The company now expects full-year adjusted earnings of $17.85 to $17.95 a share, with revenue growth of about 9 percent and net yields up about 2.7 percent. It said the raise was partly offset by higher-than-expected fuel costs and currency effects, though it gave no fuel figures. For the fourth quarter it guided to adjusted earnings of $3.48 to $3.58 a share and net yield growth of 4.4 to 4.9 percent.

The most telling numbers for travelers concern what comes next. Booking volumes since the last earnings call have risen in the mid-teens across all major channels, and bookings for 2027 sailings are up in the high teens. CEO Jason Liberty said 2027 is pacing ahead of historical levels at higher rates. For anyone planning a cruise next year, that is a signal to expect firm pricing and fuller ships on popular itineraries.

The results also carried an update on the company’s push into resorts. Royal Caribbean announced in September a deal for a 50 percent interest in Sandals and Beaches Resorts, a portfolio of 18 operating Caribbean resorts with three more under development. The investment is expected to close in early 2027, subject to regulatory approvals, and the company said it expects it to add to earnings immediately once complete. Liberty said the company remains on track for earnings above $20 a share in 2027.

Sources: Cruise Industry News, Royal Caribbean Group