Q3: 2025-10-28 Earnings Summary
EPS of $5.75 beats by $0.07
| Revenue of $5.14B (5.18% Y/Y) misses by $29.34M
Royal Caribbean Cruises Ltd. (NYSE:RCL) Q3 2025 Earnings Call October 28, 2025 10:00 AM EDT
Company Participants
Blake Vanier – Vice President of Investor Relations
Jason Liberty – President, CEO & Chairman of the Board
Naftali Holtz – Chief Financial Officer
Michael Bayley – President & CEO of Royal Caribbean International
Conference Call Participants
Steven Wieczynski – Stifel, Nicolaus & Company, Incorporated, Research Division
Robin Farley – UBS Investment Bank, Research Division
Matthew Boss – JPMorgan Chase & Co, Research Division
Elizabeth Dove – Goldman Sachs Group, Inc., Research Division
Brandt Montour – Barclays Bank PLC, Research Division
James Hardiman – Citigroup Inc., Research Division
Benjamin Chaiken
Conor Cunningham – Melius Research LLC
Sharon Zackfia – William Blair & Company L.L.C., Research Division
Vince Ciepiel – Cleveland Research Company LLC
Andrew Didora – BofA Securities, Research Division
Presentation
Operator
Good morning. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Royal Caribbean Group Third Quarter 2025 Earnings Call. [Operator Instructions] I would now like to introduce Blake Vanier, Vice President of Investor Relations. Mr. Vanier, the floor is yours.
Blake Vanier
Vice President of Investor Relations
Good morning, everyone, and thank you for joining us today for our third quarter 2025 earnings call. Joining me here in Miami Jason Liberty, our President and Chief Executive Officer; Naftali Holtz, our Chief Financial Officer; and Michael Bayley, President and CEO of the Royal Caribbean brand.
Before we get started, I would like to note that we will be making forward-looking statements during this call. These statements are based on management’s current expectations and are subject to risks and uncertainties. A number of factors could cause actual results to differ materially from our current expectations. Please refer to our earnings release issued this morning as well as our filings with the SEC for a
