Royal Caribbean Group Announces ‘Perfecta Program’ Initiative to Drive Financial Growth

Royal Caribbean Group has announced a new 3-year financial initiative – under the title the Perfecta Program – aimed at bolstering the cruise group’s balance sheet.

The programme has two main goals to be achieved by the end of 2027: 

• 20% compound annual growth rate in Adjusted Earnings per Share compared to 2024 
• Return on Invested Capital (“ROIC”) in the high teens 

 “…all while delivering the best vacation experiences responsibly and maintaining solid investment grade balance sheet metrics.”

“The Perfecta Program sets a clear course for Royal Caribbean Group’s next ambitious ascent,” said Jason Liberty, President and Chief Executive of Royal Caribbean Group.

“It propels us forward with even greater ambition—driven by strategic execution, unmatched vacation experiences, and a relentless focus on innovation. As we drive towards delivering a lifetime of vacations and winning a greater share of the large and growing $2 trillion global vacation market, we remain committed to delivering exceptional value for our guests, employees and shareholders.” 

To achieve the new programme’s goals, Royal Caribbean plans to execute its proven formula of moderate capacity growth, moderate yield growth, and strong cost control.

The company has an exciting line-up of new ships and private destinations to be delivered by 2027, including Star of the Seas, Legend of the Seas, the fourth Icon Class ship, Celebrity Xcel, Perfect Day Mexico and two Royal Beach Clubs in Nassau, The Bahamas and Cozumel, Mexico.  

The company expects to generate significant cash flow over the next three years and remains committed to disciplined capital allocation through strategic investments, a competitive dividend and opportunistic share repurchases, all while maintaining solid investment grade metrics. While the company may opportunistically repurchase shares, it does not forecast the impact of potential future share repurchases in setting the Perfecta goals. 

“Together with our Perfecta goals, we remain committed to maintaining a strong balance sheet at a target leverage ratio below 3.0x,” said Naftali Holtz, Chief Financial Officer of Royal Caribbean Group.

“This aligns with our disciplined approach to capital allocation, ensuring we have the flexibility to invest in growth while continuing to deliver long term shareholder value.”