Overview

• Second-quarter adjusted EPS reached $4.38, topping the $4.09 FactSet consensus while revenue of $4.53 billion narrowly missed estimates.
• Full-year 2025 adjusted EPS guidance was raised to a range of $15.41–$15.55, lifting the low end by nearly 60 cents.
• Management projected third-quarter adjusted EPS of $5.55–$5.65, below the $5.84 analysts expected.
• Net cruise costs per available passenger cruise day are forecast to rise 6.4%–6.9%, driven by the timing of Star of the Seas delivery and expense shifts.
• Shares fell about 5%–6% in premarket trading following the mixed results and cautious near-term outlook.