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Royal Caribbean reports better than expected third quarter income

In:
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23Oct2014

Royal Caribbean reported today earnings of $490.2 million in its third quarter.

On a per-share basis, Royal Caribbean had net income of $2.19. Earnings, adjusted for non-recurring costs and restructuring costs, came to $2.20 per share.

The company's third quarter results beat Wall Street expectations for income.  It did, however, post revenue fo $2.39 billion for the period, which missed analysts forecasts of $2.4 billion.

Its fourth quarter forecast was reduced a bit, with fourth-quarter adjusted earnings per share of 35 to 40 cents, below analyst projections of 48 cents.

For its 2015 outlook, ROyal Caribbean is experiencing strong early booking trends for 2015. Booked load factors and APDs are higher than same time last year and the booking window has extended. Europe sailings are off to a particularly good start, with strong booking trends from North America and from Europe. Caribbean pricing pressure continues through the first quarter, but the company expects that to improve thereafter.

Royal Caribbean is optimistic that 2015 will be the sixth consecutive year for yield growth. The company has sufficient visibility into 2015 to say that it is comfortable with the Street consensus of $4.55 per share. That would represent more than a 30% increase over this year's record profitability.

Royal Caribbean Third Quarter 2014 Earnings Call Scheduled

In:
Category: 
16Oct2014

Royal Caribbean will hold a conference call on October 23, 2014 at 10am to discuss its third quarter 2014 financial results.

The call will be available on-line at the company's investor relations web site, www.rclinvestor.com. To listen to the call by phone, please dial (877) 663-9606 in the US and Canada. International phone calls should be made to (706) 758-4628. There is no passcode or meeting number.

A replay of the webcast will be available at the same site for a month following the call.

Royal Caribbean reports better than expected second quarter 2014 results

In:
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24Jul2014

Royal Caribbean reported its 2014 second quarter financial results today, and higher European deamand helped second-quarter profit beat estimates and the company raised its outlook for the full year.

Royal Caribbean said it earned $137.7 million, or 62 cents a share, in the quarter, up from $24.7 million, or 11 cents a share, in the same period a year ago.

Royal Caribbean Chief Financial Officer Jason T. Liberty said in a statement, "higher pricing for close-in European sailings propelled us above the top end of our guidance for the quarter.  While the environment in the Caribbean remains promotional, our European itineraries continue to resonate well with strong demand from all markets."

Onboard revenue initiatives continue to deliver positive results with a 3% increase for the quarter. This is the tenth consecutive quarter of onboard revenue growth.

Liberty also commented, "overall business has been solid and our equity investments continue to outperform, allowing us to deliver even better returns to our shareholders."

Royal Caribbean Second Quarter 2014 Earnings Call Scheduled

In:
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18Jul2014

Royal Caribbean will hold a conference call on July 24, 2014 at 10am to discuss its second quarter 2014 financial results.

The call will be available on-line at the company's investor relations web site, www.rclinvestor.com. To listen to the call by phone, please dial (877) 663-9606 in the US and Canada. International phone calls should be made to (706) 758-4628. There is no passcode or meeting number. A replay of the webcast will be available at the same site for a month following the call.

Royal Caribbean reports first quarter 2014 profit dip

In:
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24Apr2014

Royal Caribbean reported its first quarter 2014 results today and its quarterly profit fell by two-thirds due to higher costs and less passenger onboard spending.

Royal Caribbean's net income fell 65 percent to $26.5 million, or 12 cents per share, in the first quarter.

Voyage disruptions, notably six shortened or canceled cruises between January and March hurt Royal Caribbean's bottom line.  Navigator of the Seas was impacted due to an oil spill shutting down Galveston while Adventure of the Seas encountered technical problems that impacted its propulsion.

Demand for European sailings and for China sailings remained particularly strong throughout the period and double digit yield improvements are expected for both products. 

"Despite pressures in the Caribbean, the diversity provided by our global footprint is proving its value. This model has allowed us to take advantage of the strong demand for our European and Asian products, while successfully navigating pressures in the Caribbean," said Jason T. Liberty, chief financial officer.

Royal Caribbean does expect things to get better as 2014 goes forward.  It is expecting double-digit percentage rise in yields in European and Asia Pacific cruises this year. 

Royal Caribbean said booking volumes rose about 18 percent in the past three months. Bookings jumped 20 percent in the past eight weeks.

Royal Caribbean Appoints John F. Brock To Board Of Directors

In:
05Feb2014

Royal Caribbean announced that John F. Brock, chairman and CEO of Coca-Cola, has been appointed to the cruise line's board of directors.  The move is effective immediately.

Royal Caribbean chairman Richard Fain commented on Brock's arrival, "John's demonstrated leadership skills and his broad and impressive executive experience in the international beverage industry will help us to deliver long term value for shareholders. We warmly welcome him to the board."

Brock has been the chairman of Coca-Cola Enterprises since 2008 and CEO since 2006. Mr. Brock also has significant Board experience, having previously served on the boards of Dow Jones & Company, Campbell's Soup Company, InBev, Cadbury Schweppes, and Reed Elsevier.

Prior to working at Coca-Cola, Brock served as CEO of InBev, S.A., a global brewer, from 2003 to 2005 and as COO of Cadbury Schweppes plc, from 1999 to 2002. 

Royal Caribbean fourth-quarter profits beat estimates

In:
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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.

Royal Caribbean Fourth Quarter 2013 Earnings Call Scheduled

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20Jan2014

Royal Caribbean will hold a conference call on January 27, 2014 at 10am to discuss its fourth quarter 2013 financial results.

The call will be available on-line at the company's investor relations web site, www.rclinvestor.com. To listen to the call by phone, please dial (877) 663-9606 in the US and Canada. International phone calls should be made to (706) 758-4628. There is no passcode or meeting number. A replay of the webcast will be available at the same site for a month following the call.

Royal Caribbean reports increased profit in third quarter results

In:
Category: 
24Oct2013

Royal Caribbean reported its third quarter fiscal results today of a net income of $377.9 million or $1.71 per share, compared with $367.8 million or $1.68 per share last year.

Royal Caribbean attributes the increase in revenue compared to last year to close-in demand in Europe and Asia as well as good cost control, despite cost impacts from the Celebrity Millenium unscheduled drydock.

Booked load factors are ahead of this time last year in all four quarters of 2014, according to the company. It forecast that 2014 should be the fifth consecutive year for yield growth.

Prices for the first quarter are in-line with the same time this year and are up for the second, third and fourth quarters.

Royal Caribbean Chairman Richard Fain commented on the company's results, "We are beginning to see the payoff from our efforts to improve returns during these challenging times. We have a ways to go, but our strategy and our investments are driving higher revenues and achieving cost efficiencies that bode well for 2014 and beyond. We are especially grateful for our employees' dedication to our profitability improvement initiatives."

Overseas, things are looking good for Royal Caribbean with booked load factors and rates both up significantly year-over-year for Europe.  Asian bookings are up “considerably” despite a continued territorial dispute between China and Japan.

Advance bookings for Alaska cruises are also “providing encouragement for yield improvement.”

Royal Caribbean Third Quarter 2013 Earnings Report Scheduled

In:
Category: 
17Oct2013

Royal Caribbean has scheduled a conference call for Thursday, October 24, 2013 at 10am Eastern time to announce the results of it's third quarter fiscal calendar earnings.

If you're interested in hearing the results live, you can listen on-line at Royal Caribbean's investor relations web site, www.rclinvestor.com. To listen to the call by phone, please dial (877) 663-9606 in the US and Canada. International phone calls should be made to (706) 758-4628. A replay of the webcast will be available at the same site for a month following the call.

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