New York, Jan 29, 2026, 19:15 EST — After-hours
- Royal Caribbean shares jumped 18.6% after hours, closing at $345.98
- The company forecasts adjusted EPS between $17.70 and $18.10 for 2026, highlighting record early bookings.
- Cruise peers climbed after a more optimistic outlook boosted sentiment throughout the sector
Shares of Royal Caribbean Cruises Ltd surged almost 19% on Thursday, closing up 18.6% in after-hours at $345.98. The cruise line raised its profit forecast for 2026, driven by record early bookings.
The update arrives amid the “Wave” season—January to March’s intense booking period that shapes early pricing and lets cruise lines gauge demand for future sailings. Royal Caribbean noted that affluent travelers continue to spend freely, offering the company an unusually clear view into next year’s outlook. 1
Royal Caribbean reported its strongest stretch of seven booking weeks since the last earnings update, with roughly two-thirds of its 2026 capacity already locked in at record pricing. The company forecast adjusted earnings per share for 2026 between $17.70 and $18.10, while expecting first-quarter adjusted EPS to come in at $3.18 to $3.28. 2
The company reported 2025 earnings per share at $15.61, with adjusted EPS slightly higher at $15.64. “WAVE is off to a great start,” CEO Jason Liberty said in a statement. 3
Carnival climbed 8.4% in after-hours trading, followed by Norwegian Cruise Line, which gained 10.2%, and Viking Holdings, up 6.7%. The S&P 500 ETF edged down slightly.
Royal Caribbean revealed deals with France’s Chantiers de l’Atlantique to construct a new “Discovery Class” for its Royal Caribbean line. The pact includes two confirmed ship orders plus options for an additional four. The initial vessel aims to launch in 2029, followed by a second delivery in 2032. 4
Celebrity River Cruises announced it has ordered 10 additional ships, doubling its European river fleet to 20 vessels by 2031, and opened bookings for its 2028 season. “Our inaugural 2027… season sold out in under six minutes,” said Celebrity Cruises President Laura Hodges Bethge. 5
During the earnings call, Liberty outlined its 2026 plan, forecasting yield growth between 1.5% and 3.5% in constant currency, paired with an expected 6.7% boost in capacity. The company said this mix is set to fuel double-digit revenue gains. 6
That rally, however, offers scant margin for error. A drop in Wave-season demand, rising fuel or financing expenses, or hiccups in major itineraries could quickly tighten margins in a business that books capacity months ahead.
Traders are set to watch Friday’s session closely for signs of follow-through, then turn their focus to the next Wave-season updates on pricing and onboard spending as the booking window stretches into March.
