RCL Q2 net income fell 7% to $1.1B as fuel & payroll costs outpaced 1.9% yield growth

Filed July 28, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 29, 2025 · ~1 min read

Key Changes

• high

  Q2 2026 net income declined 7% YoY to $1.1B ($4.20/share) despite 6.5% revenue growth, driven by 290bp margin compression as fuel costs rose 27% and payroll costs rose 23%.

  MD&A: Operating Results verify on EDGAR →
• high

  Net Cruise Costs per APCD rose 6.8% to $158.42, accelerating from 1.1% growth in prior year, while Net Yields grew only 1.9% (down from 5.3% prior year), compressing operating leverage.

  MD&A: Cost Metrics verify on EDGAR →
• high

  Supreme Court vacated favorable 11th Circuit ruling in Havana Docks case and remanded for further proceedings, re-exposing RCL to ~$112M judgment after prior dismissal.

  Legal Proceedings verify on EDGAR →