Royal Caribbean Group topped Wall Street expectations in the third quarter of 2026. Adjusted earnings came in at $6.57 per share, ahead of the $6.38 consensus forecast and the company's own July guidance of $6.26 to $6.36, on total revenue of $5.6 billion, up 9 percent from a year earlier. The company carried 2.7 million guests in the quarter at a load factor of 112 percent.
The company raised its full-year 2026 adjusted earnings outlook to $17.85 to $17.95 per share, up from $17.73 to $17.87 in July, with a $17.90 midpoint above the $17.83 consensus. Chairman and CEO Jason Liberty said demand remains strong and that, while it is still early, 2027 bookings are pacing ahead of historical levels at higher rates. Booking volumes are up in the mid-teens since the July earnings call, with 2027 bookings up in the high teens, while higher fuel costs and currency moves partly offset the raise. Fourth-quarter adjusted earnings are guided at $3.48 to $3.58 per share.
What it means for your sailing: if you are shopping a 2027 cruise, Royal Caribbean says bookings are pacing ahead of past years at higher rates, and ships sailed at 112 percent occupancy in the third quarter, so popular sailings are unlikely to get cheaper by waiting. If you are already booked, expect full ships and strong demand for pre-cruise purchases, which are running ahead of last year, so reserve dining, shows, and excursions early where they sell out.