Royal Caribbean Group reported first quarter 2025 Adjusted EPS of $2.71, exceeding its guidance, driven by stronger than expected pricing on close-in demand and lower costs. Net Income for the quarter was $0.7 billion, or $2.70 per share, compared to $0.4 billion, or $1.35 per share, in Q1 2024.
Total revenues reached $4.0 billion, a 7.3% increase year-over-year, with Net Yields increasing 5.6% in constant currency compared to Q1 2024, and a load factor of 109%. The company raised its full year 2025 Adjusted EPS guidance to $14.55 to $15.55, reflecting Q1 outperformance and favorable currency and fuel rates.
For the second quarter of 2025, Adjusted EPS is guided between $4.00 and $4.10. Notably, S&P Global Ratings upgraded Royal Caribbean's credit rating to investment grade during the quarter, acknowledging its improved financial position. The company also repurchased approximately 1.0 million shares under its existing program.
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