Strong Second Quarter Performance: The Royal Caribbean Group reported adjusted earnings per share (EPS) of $4.38 for Q2 2025, marking a 36% year-over-year increase, driven by better-than-expected demand, improved onboard spending, and favorable shifts in expense timing. The company exceeded its EPS guidance by $0.33.

Increased Earnings Guidance for 2025: The company raised its full-year adjusted EPS guidance to a growth of 31%, expecting a range of $15.41 to $15.55. This reflects improved performance in Q2, coupled with lower-than-expected spending and ongoing positive trends in bookings and onboard purchases.

Capacity Growth and Demand Trends: Royal Caribbean plans for a 6% increase in capacity for the full year, with specific quarterly projections of 3% growth for Q3 and 10% growth for Q4, driven by the launch of new ships. Demand for cruises is strong, particularly among millennial consumers who show a preference for close-in bookings and increased spending on vacations.