Royal Caribbean fourth-quarter profits beat estimates

In:
27Jan2014

Royal Caribbean reported fourth-quarter net income of $7.02 million or $0.03 per share, compared to a loss of $392.80 million or $1.80 per share, prior year. 

Adjusted net income was $50.0 million, or $0.23 per share, for the quarter. In the prior year quarter, the company recorded an impairment of Pullmantur related assets of $385.44 million.

Total revenues increased to $1.85 billion, from $1.81 billion, prior year. Analysts expected revenue of $1.85 billion for the quarter.

Royal Caribbean currently estimates its 2014 adjusted earnings per share will be in the range of $3.20 to $3.40. Analysts expect the company to report fiscal 2014 earnings per share of $3.17.