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Royal Caribbean Group RCL Q2 2025 earnings

Reported July 29, 2025 · Before market open

Revenue$4.5BMiss by $13.6MDiluted EPS$4.38Beat by $0.29
Revenue estimate$4.6B
EPS estimate$4.09

Next report

Jul 28, 2026 (In 2 weeks)
Revenue estimate$4.8B
EPS estimate$3.92

Financials

Q2 2025

Income statement

See full
Revenue$4.5B+10.4%
Gross profit$2.3B+15.2%
Operating income$1.3B+20.9%
Net income$1.2B+41.7%
EPS (diluted)$4.41+41.8%

Balance sheet

See full
Cash & equivalents$735.0M+88.0%
Total debt$838.0M-17.2%
Total equity$9.2B+52.6%
Total assets$38.5B+4.2%

Cash flow

See full
Operating cash flow$1.7B+11.0%
CapEx$836.0M-60.9%
Free cash flow$910.0M—

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$76.16B+85.6%
Enterprise value$76.27B+83.1%
P/E21.1×+4.7×
P/S4.4×+1.8×

Profitability

See full
Gross margin48.8%+2.5pp
Operating margin26.4%+2.3pp
Net margin21%+4.7pp
FCF margin20.9%—

Returns & leverage

See full
Return on equity47.5%-5.9pp
Debt / equity0.1×-0.1×
Current ratio0.2×0.0×

Segments

By product

See full
Passenger$3.2B+10.8%

Versus estimates

Revenue

Q1 2026$4.5BMiss by $11.9MQ4 2025$4.3BMiss by $3.2MQ3 2025$5.1BMiss by $27.6M
Q2 2025$4.5BMiss by $13.6M
Q1 2025$4.0BMiss by $14.4MQ4 2024$3.8BIn line

Diluted EPS

Q1 2026$3.60Beat by $0.36Q4 2025$2.80In lineQ3 2025$5.75Beat by $0.06
Q2 2025$4.38Beat by $0.29
Q1 2025$2.71Beat by $0.16Q4 2024$1.63Beat by $0.13

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Questions, answered.

When did Royal Caribbean Group report Q2 2025 earnings?
Royal Caribbean Group (RCL) reported Q2 2025 earnings on July 29, 2025 before market open.
What were Royal Caribbean Group's Q2 2025 revenue and EPS?
Royal Caribbean Group reported revenue of $4.5B and diluted EPS of $4.38 for Q2 2025.
Did Royal Caribbean Group beat estimates in Q2 2025?
Revenue missed the consensus estimate of $4.6B by $13.6M. EPS beat the consensus estimate of $4.09 by $0.29.
How did Royal Caribbean Group's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.4% from $4.1B a year earlier and diluted EPS grew 36.4% from $3.21.
Where can I find Royal Caribbean Group's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000884887-25-000142) directly on SEC EDGAR. The filing index links above go to sec.gov.