Royal Caribbean Cruises Ltd. (RCL) earnings on July 28, 2026

Before the market opens Q2 2026

More Royal Caribbean Cruises Ltd. earnings

Prior outlook: No statistical edge

Royal Caribbean shares surged 7% after the company raised its profit forecast for 2026, even as it slightly lowered its sales outlook.

RCL price around the earnings

322.50

Change: +6.5%

2026-07-28, 20:00 UTC

Start of the measured window End of the measured window
284.60 297.76 310.92 324.08 302.88
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 28, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: No statistical edge

Thesis published
Results released

Analyst Buy conviction ($337 target, +10.5% upside), 100% beat rate contrast with negative 30d trend strength.

Context analyzed before publication

Trend
Mixed trajectory with recent positive 14d trend strength, but 30d trend strength remains negative, creating a contrarian setup.

Analysts

Evidence

Analyst consensus
Buy
Consensus average (1-5)
1.71
Analysts covering the stock
27
Average price target
337.04
Lowest price target
255
Highest price target
425
Upside to price target
10.5%
Quarterly earnings growth
28.9%
Revenue growth
11.3%
Forward EPS
19.99
Trailing EPS
17.02
Analyst moves in the last 60 days
6
  • Strong buy: 4
  • Buy: 16
  • Hold: 8
  • Sell: 0
  • Strong sell: 0
Strong buy
4
Buy
16
Hold
8
Sell
0
Strong sell
0
  • July 21, 2026 · Citigroup: Maintains rating (Buy → Buy)
  • July 8, 2026 · BMO Capital: Initiates coverage (Outperform)
  • June 22, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
  • June 16, 2026 · Citigroup: Maintains rating (Buy → Buy)
  • June 3, 2026 · Freedom Broker: Initiates coverage (Buy)
  • June 1, 2026 · Loop Capital: Initiates coverage (Hold)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
Low
Normalized volume
33%
News
Sources (6)

Technicals

Evidence

Average true range (ATR)
3.6%
Distance to 52-week high
-15.2%
14-day change (14d)
+6.3%
30-day change (31d)
-3.7%
30-day relative strength
-5.0%
SPY change (31d)
+1.3%
Nearest support
303.31
Nearest resistance
308.3
Volume accumulation ratio (14d / 46d)
0.91

Trends

Evidence

Average earnings surprise
+5.3%
  • April 30, 2026: actual EPS 3.6 vs estimate 3.2 (surprise +12.6%)
  • January 29, 2026: actual EPS 2.8 vs estimate 2.8 (surprise +0.1%)
  • October 28, 2025: actual EPS 5.75 vs estimate 5.68 (surprise +1.2%)
  • July 29, 2025: actual EPS 4.38 vs estimate 4.08 (surprise +7.3%)

Expected move

Implied move
+5.8%
Source
Options chain

Reactions over its last 20 earnings

Median move
5.2%
75th percentile move
8.2%
90th percentile move
9%
Up / down moves
12 / 7
Average up move
+6.6%
Average down move
-4.8%

Monitoring and close

What Royal Caribbean Cruises Ltd. reported

Status
Finished
Actual EPS4.21
EPS estimate3.98
EPS surprise+5.8%
Revenue$4,832 million
Revenue estimate$4,817 million
Revenue surprise+0.3%

Royal Caribbean beat Q2 earnings with EPS of $4.21, raised full-year guidance to $17.73-$17.87, but cut revenue outlook to 9% amid geopolitical uncertainty. Shares fell over 4% pre-market.

Sources (26)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures don't clearly confirm the prior scenario.

How the stock reacted

Consolidated
+7.0%
Max move
+7.2%

No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.