Royal Caribbean Doubles Q1 Profit with Higher Yields, Cuts

Royal Caribbean Group reported strong financial results for the first quarter of 2025, posting net earnings of $730 million—nearly double the $360 million recorded during the same period in 2024.

The significant profit growth was attributed to increased revenue and reduced overall costs.

Revenue from ticket sales and onboard spending reached $3.999 billion for the quarter, up from $3.728 billion a year earlier. On a per passenger day basis, this translates to $290.45 in 2025, compared to $283.50 last year—an increase of $6.95.

Meanwhile, total costs—including operations, marketing, sales, depreciation, and interest—dropped notably to $237.43 per passenger day, down from $256.12 in 2024. This represents a $18.69 reduction in cost per passenger day.

This combination of slightly higher earnings and considerably reduced expenses led to a net income of $53.02 per passenger day, a substantial improvement over the $27.38 recorded in the prior year.

The primary revenue boost came from stronger ticket pricing, with revenue per passenger day rising to $199.30, up from $193.31 last year. Onboard revenue also grew modestly, reaching $91.15 per passenger day compared to $90.19 in 2024.

Despite a larger fleet contributing to overall higher expenses, the company benefited from a notable decline in fuel and interest costs, which helped drive overall profitability.