Royal Caribbean reports 25% growth in second quarter financial results

Matt Hochberg

Royal Caribbean reported its second quarter 2016 earnings today, with US GAAP Net Income of $229.9 million or $1.06 per share, compared to $185.0 million or $0.84per share in 2015.  

Adjusted Net Income for the second quarter of 2016 was $235.2 million, or $1.09 per share, up over 25% versus the same quarter last year.  The outperformance for the quarter was primarily driven by better than anticipated fuel expense. 

"Our business remains strong and we continue to improve our return profile," said Richard Fain, chief executive officer. "This keeps us solidly on our path towards the Double-Double."

The company's booked position for the remainder of 2016 remains strong, similar to last year's record levels.

"While there are always puts and takes in our key markets, our portfolio is performing as expected, our booked position remains strong, and our newbuilds are entering their markets to great fanfare," said Jason T. Liberty, chief financial officer. "These factors are driving another year of record earnings."

You can see the full second quarter financial results here.