Royal Caribbean Cruises Ltd

Company facts

Industry

Water Transportation

Headquarters

Miami, Florida

Most recent report

10-Q, filed Oct 27, 2026

Incorporated

N/A

Filings on record

1,004+ filings

On EDGAR

CIK 884887

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 3 positive, 9 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with debt, ship orders, litigation, and hedging details.
  Notable

  • Undrawn capacity of $6.6B on revolving credit facilities as of Sep 2026.
  • Agreed to acquire 50% of Sandals and Beaches Resorts, with $3B bridge loan facility for funding.
  • 97% of debt effectively fixed-rate at Sep 2026, up from 93% at Dec 2025, reducing interest-rate risk.
  Negative

  • Aggregate cost of ships on order is $19.4B, with only $1.5B deposited, creating large future funding needs.
  • Helms-Burton lawsuit: $112M judgment reversed, then Supreme Court vacated reversal; case remanded.

• Management's Discussion (Item 2)

  Strong operating results with record net income, a major acquisition announced, and significant debt issuance.
  Positive

  • Net income attributable to RCL rose to $1.7B in Q3 2026 from $1.6B in Q3 2025, a 9.7% increase.
  • Total revenues increased 8.8% to $5.6B in Q3 2026 from $5.1B in Q3 2025, driven by capacity and pricing.
  • Onboard revenue per passenger rose, contributing $79M of the Q3 2026 increase, showing strong consumer spending.
  Notable

  • Announced $3.0B deal for 50% of Sandals and Beaches Resorts, funded by a new $3B term loan, closing in early 2027.
  • Issued $3.75B in senior notes in 2026: $1.25B due 2033, $1.25B due 2038, and $1.25B due 2034, netting ~$3.74B.
  • Future ship commitments total $19.4B, with $14.95B in remaining payments, and $17B in committed financing.
  • Board declared a $1.50 per share dividend for Q3 2026, paid in October 2026.

• Legal Proceedings (Item 1)

  Supreme Court revived a $112M+ judgment that was previously reversed; $124M reserve was released.
  Notable

  • Company released $124M of the loss contingency in FY2024 after the 11th Circuit denied rehearing.
  • Original charge was $130M in Q4 2022; the released amount is nearly all of it.

What changed: Sep 2026 vs. Jun 2026

About 6% of RCL's Sep 2026 10-Q is new information. 21 paragraphs were added, 154 changed, and 12 removed. Below are the most important lines SECSift identified.

• Item 1 63
• Item 2 62
• Item 6 9
• Item 4 1
• Item 5 1