Royal Caribbean Group (RCL) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Royal Caribbean Group published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Royal Caribbean Group reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Royal Caribbean Group's Adjusted EPS excludes loss on extinguishment of debt, restructuring charges and other initiative expenses, and amortization of Silversea intangible assets, among other items.
• In September 2026 Royal Caribbean Group agreed to acquire a 50% interest in Sandals and Beaches Resorts, expected to close in early 2027 and to be accounted for under the equity method on a one-quarter lag. It is not in the 2026 guidance.

Source: Royal Caribbean Group Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Royal Caribbean Group splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Royal Caribbean Group's Passenger ticket revenues revenue was $3.9 billion in Q3 2026, up 7% from $3.6 billion in Q3 2025, 69% of total revenue.
• Royal Caribbean Group's Onboard and other revenues revenue was $1.7 billion in Q3 2026, up 14% from $1.5 billion in Q3 2025, 31% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Royal Caribbean Group said:

“In line with the company's prior expectation, Net Yields are expected to be 4.4% to 4.9% as-reported and 4.2% to 4.7% in Constant Currency as compared to 2025.”

“Based on current fuel pricing, interest rates, currency exchange rates and the factors detailed above, the company expects fourth quarter Adjusted EPS to be in the range of $3.48 to $3.58.”

“Revenue is expected to grow 9% year over year.”

“Adjusted EPS is expected to be in the range of $17.85 to $17.95.”

Source: Royal Caribbean Group Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the RCL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release.

Royal Caribbean Group's next report is expected around January 26, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Royal Caribbean Group earns revenue in two lines: passenger ticket revenues, $3,885 million in Q3 2026, and onboard and other revenues, $1,706 million, for total revenues of $5,591 million against $5,139 million a year earlier. Onboard and other grew faster, up from $1,502 million, and the release says third quarter pre-cruise and onboard revenue rates were ahead of the prior year. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026)

Royal Caribbean Group's capacity was up 8% in the quarter and the company carried 2,676,480 passengers, against 2,466,039, with APCD (available passenger cruise days) of 14,844,688. Occupancy, which the industry calls load factor, was 112.4%. Net Yields rose 0.9% as-reported and 0.6% in Constant Currency, which Royal Caribbean attributed to better-than-expected close-in demand in Europe and the Caribbean. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026)

By itinerary, North America (the United States, Canada, Mexico and the Caribbean) brought in $3,220 million and Europe $1,796 million, up from $1,520 million, with Asia/Pacific at $198 million and other regions $89 million. Another $288 million of other revenues comes mainly from cancellation fees, vacation protection insurance, tours and port operations. (Royal Caribbean Group Form 10-Q, Q3 2026, Oct 27, 2026)

Royal Caribbean Group operates three global brands, Royal Caribbean, Celebrity Cruises and Silversea, and owns 50% of TUI Cruises, which runs Mein Schiff and Hapag-Lloyd Cruises. The combined fleet was 71 ships at September 30, 2026. Ships on order, excluding the partner brands, had an aggregate cost of approximately $19.4 billion, of which $1.5 billion had been deposited. (Royal Caribbean Group Form 10-Q, Q3 2026, Oct 27, 2026)

Royal Caribbean Group reported diluted EPS of $6.45 and Adjusted EPS of $6.57 in Q3 2026, against $5.74 and $5.75 a year earlier. Net Income attributable to Royal Caribbean Cruises Ltd. was $1,728 million and Adjusted Net Income $1,760 million. The gap is mostly a $21 million loss on extinguishment of debt from the February and August redemptions, $9 million of restructuring charges and other initiative expenses, and $2 million of Silversea intangible amortization. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026)

Diluted weighted-average shares fell to 268 million from 274 million. Income taxes are small for Royal Caribbean: the provision was $27 million on income before income taxes of $1,762 million. Equity investment income added $176 million, while interest expense, net of interest capitalized, was $291 million. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026; Royal Caribbean Group Form 10-Q, Q3 2026, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Royal Caribbean Group gives quarterly and full-year guidance in its release. For Q4 2026 it expects Net Yields up 4.4% to 4.9% as-reported, NCC excluding Fuel per APCD down 1.5% to 1.0%, total revenue up 9% and Adjusted EPS of $3.48 to $3.58. For the full year it raised Adjusted EPS guidance to $17.85 to $17.95, with revenue up 9%. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026)

The guidance assumes $379 million of Q4 fuel expense, 58% hedged, based on current at-the-pump prices; Royal Caribbean does not forecast fuel prices. Royal Caribbean said it remains on track for its Perfecta goals of 20% Adjusted EPS compound annual growth from 2024 through 2027 and ROIC of 17% or higher by the end of 2027. (Royal Caribbean Group Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Royal Caribbean Group, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Royal Caribbean Group's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning RCL is on is RCL a buy or a sell?, what analysts expect next is on the RCL forecast, and what the company does is on the Royal Caribbean Group (RCL) stock page.

Every number on this page can be traced to a document Royal Caribbean Group published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.