Royal Caribbean Cruises has a market capitalisation of $82.1bn and operates brands including Royal Caribbean, Celebrity Cruises, and Silversea. The Miami-based company has seen its stock decline 1.6% over the past year, underperforming the S&P 500's 20.2% rally, though shares have gained 10.4% year-to-date. On 28 July, the stock jumped 5.7% after Royal Caribbean reported second-quarter adjusted earnings per share of $4.21, beating analysts' $3.98 estimate. Revenue rose 6.5% year-over-year to $4.83bn. The company raised its full-year adjusted EPS guidance to $17.73-$17.87, implying 14% year-over-year growth. Among 26 analysts covering the stock, the consensus rating is "Moderate Buy", based on 17 "Strong Buy" ratings, one "Moderate Buy", and eight "Holds".

Royal Caribbean Group has launched a registered public offering of senior unsecured notes. The company plans to use the net proceeds to repay part of its outstanding borrowings under floating rate term loan facilities, with any remaining funds going towards repaying or refinancing other existing debt. BNP Paribas Securities Corp., BofA Securities, Inc., and Citigroup Global Markets Inc. are serving as lead book-running managers for the offering. The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission on 29 February 2024. Royal Caribbean Group operates 71 ships across three wholly owned brands—Royal Caribbean, Celebrity Cruises, and Silversea—plus a 50% joint venture interest in TUI Cruises.

Royal Caribbean and Norwegian Cruise Line delivered contrasting second-quarter 2026 results, highlighting divergent pricing power in the cruise sector amid high interest rates and inflation. Royal Caribbean reported strong Q2 revenues of $4.8 billion, up 6% year-over-year, and adjusted earnings per share of $4.21, exceeding expectations. The company achieved a 110% load factor and raised its full-year adjusted EPS guidance to between $17.73 and $17.87. Norwegian Cruise Line posted Q2 revenue of $2.64 billion with adjusted EPS of $0.48, but net yields fell 2.1% due to weaker European bookings and high international flight costs. The company cut its full-year yield projection and announced $225 million in annualised savings. Royal Caribbean trades at a forward P/E of 15.73x, supported by superior yields and capital returns.