Royal Caribbean reports fourth quarter 2015 financial results
Royal Caribean reported fourth quarter 2015 financial results of a net income of $206.8 million. That is up from a net income of $70 million in the same quarter last year.
Royal Caribbean attributes the higher income to stronger demand in the Caribbean and new China sailings in the winter.
Royal Caribbean also reported for the year, a profit of $665.8 million, or $3.02 per share.
Looking forward to 2016, Royal Caribbean says its bookings are "roughly equal" to last year's record high, and at higher rates.
Continued strength from North American consumers is driving strong demand for North American products such as Caribbean, Alaska, and Bermuda which represent over 50% of capacity for the year. These North American products combined with strong demand for Northern Europe and Asia sailings are expected to more than offset current pricing challenges impacting the Mediterranean, Australia and Brazil.
In the second quarter of 2016, Royal Caribbean International will take delivery of its third Quantum class ship, Ovation of the Seas. Also debuting during the second quarter is its third Oasis class ship, Harmony of the Seas. Splendour of the Seas will leave the Royal Caribbean fleet in April.
"Our core brands are firing on all cylinders, our new ships are performing exceptionally well and our costs are well controlled. This is driving 40%+ earnings growth in two consecutive years," said Richard D. Fain, chairman and chief executive officer. "These very gratifying results combined with a strong start to Wave position us well on our path toward Double-Double."