All rights reserved. ROYAL CARIBBEAN GROUP REPORTS ON 2021 RESULTS, PROVIDES BUSINESS UPDATE. How can I redeem my Future Cruise Credit? Where can I get financial information if I booked through a Travel Advisor? Other assets, net of allowances of $72,648 and $86,781 at June30, 2022 and December31, Common stock ($0.01 par value; 500,000,000 shares authorized; 283,076,357 and 282,703,246, Treasury stock (28,018,385 and 27,882,987 common shares at cost, June30, 2022 and, Purchase of property and equipment included in accounts payable and accrued, Restructuring charges and other initiatives expense included within, Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Zacks Investment Research, Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report, Crocs, Inc. (CROX) : Free Stock Analysis Report, Cedar Fair, L.P. (FUN) : Free Stock Analysis Report, RCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis Report. A secure invitation link to view and do For Spa Product and Services inquiries, please contact OneSpaWorld. All shipboard photo products and services can be purchased onboard at the Focus Photo Gallery. It is not possible to predict or identify all such risks. These statements include, but are not limited, to: statements regarding revenues, costs and financial results for 2022 and beyond. Second quarter results exceeded the company's expectations driven by better revenue and cost performance. (7) Included within Other income in our consolidated statements of comprehensive loss. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Royal Caribbean (RCL) came out with a quarterly loss of $2.08 per share versus the Zacks Consensus Estimate of a loss of $2.23. The brand has position at the upper end of the contemporary segment of the cruise vacation industry, although because the high quality can also reach premium segments. As of March 31, 2022, the company's customer deposit balance was $3.6 billion. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. . Royal Caribbean Cruises has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Friday, February 3rd, 2023 based off prior year's report dates. The top line rose year over year . For additional information see "Adjusted Measures of Financial Performance" below. These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. ROYAL CARIBBEAN GROUP PARTNERS WITH TEXAS ARTISTS FOR NEW PORT OF GALVESTON TERMINAL. October 28, 2022 1:26 pm. Royal Caribbean Cruises Ltd. price-eps-surprise | Royal Caribbean Cruises Ltd. Quote. Our proven model does not conclusively predict an earnings beat for Royal Caribbean this time around. More information about factors that could affect our operating results is included under the caption "Risk Factors" in our most recent annual report on Form 10-K, as well as our other filings with the SEC, and the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent annual report on Form 10-K, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC's website at www.sec.gov. The Net Loss and Adjusted Net Loss for the quarter are primarily the result of the impact of the COVID-19 pandemic on the business. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Starting Aug. 8, testing will be required for unvaccinated guests on all voyages and for vaccinated guests only on voyages that are six nights or longer. Across all markets, bookings in the first quarter of 2022 were higher than in the fourth quarter of 2021, and throughout the first quarter, bookings improved each week. The Company has scheduled a conference call at 10:00 a.m. Eastern Time today. Please fill out the form below and click "Place Order" to complete your order. Royal Caribbean Group is also a 50% owner of a joint venture that includes TUI Cruises and Hapag-Lloyd Cruises. MIAMI - February 4, 2022 - Royal Caribbean Group (NYSE: RCL) today reported financial results for the 2021 fiscal year and provided business updates. Shares of RCI Hospitality have improved 21% in the past year. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary. Represents the amortization of non-cash debt discount on our convertible notes. "Royal Caribbean Cruises Ltd (RCL).". There are far fewer balcony cabins on older Royal Caribbean ships (and all older cruise ships in general). Royal Caribbean Cruises Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. These include white papers, government data, original reporting, and interviews with industry experts. Words such as "anticipate," "believe," "could," "driving," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "will," "would," "considering," and similar expressions are intended to help identify forward-looking statements. Where can I fill out a survey regarding my experience on my most recent sailing? Cruising remains a very attractive value proposition for vacationers, and today we have an opportunity to further close the value gap to other land-based vacation offerings," added Liberty. In instances where Onboard Credits are issued due to an itinerary change or service recovery, the credit may be issued in the value of either a dollar amount or for a value equal to a specific number of days. I have 3 cruises cancelled due to COVID. If you are missing any Crown & Anchor points from one of your previous sailings or have any inquiries regarding your account, please contact us at crown We would love to hear your feedback about your experience on your last sailing with us. However, the company said second quarter results were meaningfully ahead of the company's expectations driven by accelerating and strong close-in demand, further improvement in onboard revenue and better cost performance. Royal Caribbean'soccupancy rate came in below expectations. Passenger cruise days are a metric calculated by taking the number of passengers carried during the measurement period and multiplying that by the number of days of the passengers' respective cruises. The presentation of adjusted financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Adjusted Net Loss and Adjusted Loss per Share were calculated as follows (in thousands, except per share data): Impairment and credit losses (recoveries) (2), Restructuring charges and other initiatives expense, Amortization of Silversea Cruises intangible assets related to Silversea Cruises acquisition, Convertible debt amortization of debt discount (3), Net gain related to the sale of the Azamara brand, Weighted-Average Shares Outstanding - Diluted. For the third quarter of 2022 and based on current currency exchange rates, fuel rates and interest rates, the company expects to generate approximately. Gross Cruise Costs, Net Cruise Costs and Net Cruise Costs Excluding Fuel were calculated as follows (in thousands, except APCD and costs per APCD): Restructuring charges and other initiatives expense included within marketing, selling and administrative expenses. For this reason, we also monitor our revenues and expenses in "Constant-Currency" - i.e., as if the current period's currency exchange rates had remained constant with the comparable prior period's rates. Going up against a cruise line by yourself may not end the way you want. Shares of Cedar Fair have declined 12.8% in the past year. You can see the complete list of todays Zacks #1 Rank stocks here. The Group is now offering cruises in almost all of its destinations. How can I file a claim if my luggage was damaged? We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary. A reconciliation to the most comparable U.S. GAAP measure of all adjusted financial measures included in this press release can be found in the tables included at the end of this press release. 2023 Royal Caribbean Group. Throughout a sailing, pending authorizations (holds) are issued to cards on file as a way to secure funds for onboard processed transactions. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. The Group expects a return to net profit for the second half of 2022. We are committed to decarbonizing our operations through innovation and collaborative partnerships. from 8 AM - 9 PM ET. The company posted a bigger adjusted loss per share than expected. Image source: The Motley Fool. Transaction costs related to Silversea Cruises acquisition included within marketing, selling and administrative expenses, Costs, net of insurance recoveries, related to the Oasis of the Seas incident included within cruise operating expenses. ", TradingView. In the prior-year quarter, the company reported a loss per share of $4.91. Or, if youre looking for more information on something you saw displayed around the ship, please contact International Corporate Art by phone at (30 For Photo Inquiries, please contact Customer Service by phone at +1 800 256 6649. March load factors were 68%. This feature will help you take charge of your RCL career by outlining your potential options. One of the most important is World Wildlife Fund. Restructuring charges and other initiatives expense included within marketing, selling and administrative expenses. Adjusted Net LossAdjusted Net Loss represents net loss excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. This compensation may impact how and where listings appear. After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Nous, Yahoo, faisons partie de la famille de marques Yahoo. RCL Occupancy Rate. Countryside, coastal or cityscape: how to value a view? Annualized Return. The presentation of adjusted financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with US GAAP. Where can I file a claim for my travel insurance? This represents an improvement of about $400 million over the previous quarter despite the significant quarter-over-quarter increase in revenue recognition and near-term cancellations due to the Omicron variant, both of which reduced the customer deposit balance. CROXs earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 21.9%. Certain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. For the periods presented, these items included (i) impairment and credit losses (recoveries); (ii) restructuring charges and other initiative expenses; (iii) the amortization of the Silversea Cruises intangible assets resulting from the Silversea Cruises acquisition in 2018; (iv) the amortization of non-cash debt discount on our convertible notes; (v) the estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization in 2020; (vi) loss on the extinguishment of debt; (vii) equity investment asset impairments; (viii) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; and (ix) the net gain recognized in the first quarter of 2021 in relation to the sale of the Azamara brand. Whether you are looking to buy a poolside villa or sell a holiday apartment in a purpose-built development, our London office provides a comprehensive, quality service to ensure all . Approximately 60% of the FCC balance accumulated since the start of the pandemic has been redeemed. Third quarter load factors are expected to average approximately 95%, with itineraries in North America (including the Caribbean, Alaska, Bermuda, West Coast, and Canada) averaging about 100%. While the higher occupancy rate is a sign that the company is recovering from the pandemic shock that essentially brought the cruise line industry to a halt, the recovery is far from over, as the company's occupancy rate is still well below levels reached prior to the pandemic. Based on this change, we are continuing to adapt our protocols to align more closely with how the rest of society and other travel and leisure businesses are operating. We also reference original research from other reputable publishers where appropriate. "Price Chart: RCL and S&P 500.". Photo packages can be purchasedpre-cruise with a discount, or onboard. Click to get this free reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportCrocs, Inc. (CROX) : Free Stock Analysis ReportCedar Fair, L.P. (FUN) : Free Stock Analysis ReportRCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Royal Caribbean reported an occupancy rate of 57.4%, falling short of analysts' expectations. This call can be heard, either live or on a delayed basis, on the Company's Investor Relations website at www.rclinvestor.com. The company has scheduled a conference call at 10:00 a.m. Eastern Time today. Gross Cruise CostsGross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses. Based on current currency exchange rates, fuel rates and interest rates, the Group expects Adjusted Earnings Per Share for the third quarter of $0.05 - $0.25. The Company also reported Adjusted Net Loss of $(1.2) billion or $(4.57) per share for the first quarter of 2022 compared to Adjusted Net Loss of $(1.1) billion or $(4.44) per share in the prior year. How are Onboard Credits & Future Cruise Credits Calculated? I am missing Crown & Anchor points from my profile. Depreciation and amortization expenses for the second quarter of 2022 are expected to be in the range of $350-$355 million. Gross Cruise Costs per APCD improved 2.4% as reported and 1.9% in constant currency, compared to the first quarter 2022. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. Adjusted Measures of Financial PerformanceThis press release includes certain adjusted financial measures defined as non-GAAP financial measures under Securities and Exchange Commission rules, which we believe provide useful information to investors as a supplement to our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles, or US GAAP. In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. The transaction is expected to be immediately accretive to earnings, cash flow and return on invested capital. The Group continues to benefit from the delivery of new, more efficient ships and past sales of less efficient ships, as well as actions taken to improve operating costs and margins that continue to materialize as operations ramp up. Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. Some of the property in the control of the Royal Family is owned by the Crown Estate, and others they privately own. Third quarter results were better than expected and above guidance for the quarter mainly due to higher load factors from strong close-in demand, further improvement in onboard revenue and better Click the button below to request a report when hardcopies become available. (9)Primarily represents asset impairments in 2021 and a credit loss recovery for a note receivable in which credit losses were previously recorded in 2022. This company has a Environmental, Social and Governance Report available to view on our partner site, ResponsibilityReports.com, Royal Caribbean Group (NYSE: RCL) is a cruise vacation company comprised of three award-winning global brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The consensus mark for revenues stands at $3 billion, suggesting a whopping 557.6% surge from the year-ago reported figure. Trade and other receivables, net of allowances of $7,897 and $13,411 at June30, 2022 and. While load factors for sailings in the second half of 2022 are currently slightly below historical levels, consumers are booking their cruises closer to sailing and the Group is capitalizing on that healthy close-in demand to improve load factors. A percentage in excess of 100% indicates that three or more passengers occupied some cabins. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. You can redeem your Future Cruise Credit online, orthrough your Travel Advisor. These expenditures are mainly driven by new shipbuilding projects that have committed financing. Today, you can download 7 Best Stocks for the Next 30 Days. Who do I contact? ET by Tomi Kilgore. Based on current fuel prices, the company expects approximately $271 million of fuel expense in its second quarter 2022 at an average pricing of $695 per metric ton net of hedging. October 27, 2022 12:36 pm. The 59-acre fort is where . the Committee considers the personal and professional ethics, integrity and values of the candidate and his or her ability to represent the long-term interests of the shareholders. For the 2022 and 2019 periods presented, Net Cruise Costs and Net Cruise Costs excluding Fuel exclude (i) restructuring charges and other initiative expenses; (ii) the transaction costs related to the Silversea Cruises acquisition; and (iii) the costs, net of insurance recoveries, related to the Grand Bahama drydock structure incident involving Oasis of the Seas. 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