Royal Caribbean Seen Posting its First Profit in 3 Years, Royal Caribbean Cruises Q1 FY2022 Earnings Report Preview: What to Look For, Royal Caribbean Q4 2021 Earnings Report Recap, Royal Caribbean Cruises Q4 FY2021 Earnings Report Preview: What to Look For, Carnival Q2 FY2022 Earnings Report Preview: What to Look for, Royal Caribbean Group Q2 FY 2021 Earnings Report Preview: What to Look For. See below to learn how: Heres how to redeem online for new bookings: Find the sailing that you are interested in. Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. 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. ESG at Royal Caribbean Group. During the second quarter, the Group generated operating cash flow of approximately $0.5 billion. While the Group remains optimistic to capture long-term growth opportunities in that market, ships planned for China have been temporarily redeployed to other markets. Royal Caribbean Cruises Ltd. price-eps-surprise | Royal Caribbean Cruises Ltd. Quote. Gross Cruise Costs per APCD improved 2.4% as reported and 1.9% in constant currency, compared to the first quarter 2022. 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. Where can I file a claim for my travel insurance? 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. As of June 30, 2022, the Group's customer deposit balance was $4.2 billion, a record high for the company. "Our liquidity position remains strong as we execute on our return to service, and our operations generate positive cash flow again," said Naftali Holtz, chief financial officer, Royal Caribbean Group. (11)Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. We invest in our communities to foster culture and inclusive opportunities, and we go above and beyond to protect the environment and ocean health for future generations. 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. Royal Caribbean Group. The company's operating cash flow, while slightly negative in March, turned positive in April, an important step in returning to profitability. As of March 31, 2022, the company's customer deposit balance was $3.6 billion. 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. As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . Revenue for the quarter also missed analyst estimates but was up more than 25-fold as it rebounded off of the previous year's pandemic-depressed lows. Royal Caribbean Cruises Ltd. (RCL) reportedQ1 FY 2022 earningsthat missed analyst expectations. October 28, 2022 1:26 pm. 3589 (2023) 2023 Cable Television & Public Utility Property Report. For 2023, all quarters are currently booked within historical ranges at record pricing. March load factors were 68%. Who can I speak with regarding my onboard purchase? Definition. These expenditures are mainly driven by new shipbuilding projects that have committed financing. (7) Included within Other income in our consolidated statements of comprehensive loss. The Group expects to operate approximately 11.6 million APCDs for the third quarter and 11.5 million APCDs for the fourth quarter. 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. 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. The 59-acre fort is where . The company expects to operate 11.6 million APCDs in the third quarter and generate approximately $2.9 billion - $3.0 billion in Total Revenue, based on current currency exchange rates. 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. Core itineraries exclude sailings during the early ramp-up period of up to four weeks. MIAMI, July 28, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). Thank you for your patience! UPDATE 1-Chesapeake Energy to offload part of south Texas operations for $1.4 bln, CANADA FX DEBT-C$ posts biggest decline in one month as 'hard-landing' risk weighs, Marketmind: Finally, bad news is bad news, Netflix earnings due out Thursday, 'Avatar' sequel becomes sixth-biggest film of all time, MORNING BID-Finally, bad news is bad news. MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58). 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. These measures may be different from adjusted measures used by other companies. Royal Caribbean Cruises Ltd. "Form 10-K for the Fiscal Year Ended December 31, 2021," Page 36. MIAMI, Feb. 22, 2021 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported financial results for the fiscal year of 2020 and commented on . Click Manage settings for more information and to manage your choices. Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities . In the prior-year quarter, the company reported a loss per share of $4.91. The . Royal Caribbean's occupancy rate, at 57.4% for the first quarter, is a significant improvement from the year-ago quarter's rate of 37.7%. . ET by Tomi Kilgore. Over the longer term, changes in guest sourcing and shifting the amount of purchases between currencies can significantly change the impact of the purely currency-based fluctuations. Investopedia requires writers to use primary sources to support their work. Increased penetration of pre-cruise purchases is likely to have driven RCLs onboard revenue performance in the to-be-reported quarter.However, China, which is closed to international travelers, is likely to have hurt its performance. 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. More information about factors that could affect our operating results is included under the caption "Risk Factors" in our most recent current report on Form 10-Q, as well as our other filings with the SEC, 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. Together, their brands operate a global fleet of 60 ships traveling to more than 800 destinations. (10) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Changes in operating assets and liabilities: Increase in trade and other receivables, net, Increase in prepaid expenses and other assets, Decrease in accrued expenses and other liabilities, Cash received on settlement of derivative financial instruments, Cash paid on settlement of derivative financial instruments, Investments in and loans to unconsolidated affiliates, Cash received on loans to unconsolidated affiliates, Proceeds from the sale of property and equipment and other assets, Net cash provided by financing activities, Effect of exchange rate changes on cash and cash equivalents, Net (decrease) increase in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Notes receivable issued upon sale of property and equipment and other assets, Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities. This feature will help you take charge of your RCL career by outlining your potential options. Who can I speak with regarding my spa purchase? Where can I fill out a survey regarding my experience on my most recent sailing? The Group expects a return to net profit for the second half of 2022. For additional information see "Adjusted Measures of Financial Performance" below. Zacks Rank: Zacks Rank. Find it here! Approximately 20% of the customer deposit balance as of the end of the second quarter is related to FCCs. Our ships operate using a cashless system, so these accounts allow you to link a form of payment with your SeaPass Card which is then used for all onboard transactions. Selected Operational and Financial Metrics. 2021Seastainability Report | Download PDF. Adjusted (Loss) Earnings per Share ("Adjusted EPS")Represents Adjusted Net (Loss) Income divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. Available Passenger Cruise Days ("APCD")Available Passenger Cruise Days is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. Company profile for Royal Caribbean Group including key executives, insider trading, ownership, revenue and average growth rates. Click the button below to request a report when hardcopies become available. Our proven model does not conclusively predict an earnings beat for Royal Caribbean this time around. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Ships that operated the Group's core itineraries in the first quarter achieved a load factor of 59%. All personal injury cases are complex, but those involving cruise lines and maritime laws can involve even more intricate laws and statutes. (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. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. Royal Caribbean'soccupancy rate came in below expectations. Royal Caribbean Group today reported a second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). from 8 AM - 9 PM ET. In February, the company entered into a $3.15 billion backstop facility, which provides flexibility in refinancing debt maturities due in June 2023. The company's shares fell more than 1% in pre-market trading. Cautionary Statement Concerning Forward-Looking StatementsCertain 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. You can learn more about the standards we follow in producing accurate, unbiased content in our. Gross Cruise Costs per APCD and NCCper APCD for the second quarter included $7.75 per APCD related to enhanced health protocols and one-time costs to return ships and crew back to operations. Based on the strong and close-in nature of bookings, the company expects load factors will continue to improve each quarter and expects fleetwide load factors to exceed 100% by year end. Third. MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 net loss of $(1.2) billion and loss per share of $(4.58).The Group continues to make strides . With the fleet back in service, we have the full strength of our platform as we continue to execute on our recovery and build on our capabilities for long-term success.". "Last week, the CDC ended its COVID-19 Program for Cruise Ships. As a result, all quarters are currently booked within historical ranges at record pricing. As of February 25, 2022, it operated 61 ships. MIAMI - November 3, 2022 - Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. By the end of the first quarter of 2022, the Group had returned 54 out of 62 ships to operations across its five brands, representing close to 90% of worldwide fleet capacity. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Company has scheduled a conference call at 10:00 a.m. Eastern Time today. The top line rose year over year . Together, the brands have an additional 10 ships on order as of June 30, 2022. Due to this uncertainty, we do not believe that reconciling information for such projected figures would be meaningful. ", TradingView. The Group's fleet size expanded to 63 with the delivery of Wonder of the Seas and Celebrity Beyond in the first quarter and early second quarter, respectively. To date, approximately 56% of FCCs have been redeemed. Booking volumes received in the second quarter for 2022 sailings averaged 30% above 2019 booking volumes for 2019 sailings in the corresponding period in the second quarter with even greater strength in July. "Price Chart: RCL and S&P 500.". Crown & Anchor points take about two weeks from the end of your sailing to post to your account. One of the most important is World Wildlife Fund. The Net Loss and Adjusted Net Loss for the quarter are primarily the result of the continued impact of the COVID-19 pandemic on the business. Unvaccinated guests age 12 and older, leaving from Florida ports (effective Aug. 1 to Dec. 31, 2021) must show proof of a travel insurance policy that has at . 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. . 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. Based on current fuel rates, the company expects approximately $319 million of fuel expense in the third quarter 2022, at an average pricing of $794 per metric ton, net of hedging. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. Bookings have now been surpassing comparable 2019 levels for the last two months with particularly strong trends for North America based itineraries. However, it marks a slight . It should be emphasized that the use of Constant-Currency is primarily used by us for comparing short-term changes and/or projections. Please fill out the form below and click "Place Order" to complete your order. I think we get over a million different attacks a day. But that's not the case here.Earnings ESP: Royal Caribbean has an Earnings ESP of 0.00%. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. Source: Predictions based on analysts' consensus fromVisible Alpha. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. The transaction is fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes, and has no amortization payments in the first two years. It added that booking volumes in March and April have been significantly higher than the same period in 2019, before the pandemic. View detailed RCL description & address. If you purchased Royal Caribbean Travel Protection and wish to file a travel insurance claim, please contact our service partner AON. "Despite the impact of Omicron earlier in the year and the horrific conflict in Ukraine, we are encouraged by the strong demand for cruising and the steady acceleration in booking volumes," Liberty added. In June, the Group completed the return of its global fleet to operations across key destinations. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. Approximately 70% of the company's debt is tied to fixed interest rates. 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 quarter is a three-month period on a company's financial calendar that acts as a basis for the reporting of earnings and the paying of dividends. Royal Caribbean International doesnt control how long the refund process takes; After your sailing we send a link to your email address on file. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58). Suites: 188 (7%). China remains closed to cruising due to the ongoing lockdowns. Together, the brands have an additional 11 ships on order as of March 31, 2022. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. Report. How can I file a claim if my luggage was damaged? In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. Royal Caribbean rip off. It's probably happening to everybody in my opinion. Royal Caribbean said that, despite the impact of the Omicron variant of the coronavirus earlier in the year as well as the war in Ukraine, it was seeing strong demand and a steady acceleration in booking volumes. Load factors increased to almost 90% in June, with Caribbean itineraries averaging over 100%. 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. This report discusses the executive compensation determinations made by the . To read this article on Zacks.com click here. . Annualized Return. "Consumers' propensity to travel and cruise remains strong. Approximately 27% of the customer deposit balance is related to FCCs compared to 32% in the prior quarter, a positive trend indicating new demand. 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 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. (8)Excludes income tax (benefit) expense, included in the EBITDA calculation above. 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 cost performance. Countryside, coastal or cityscape: how to value a view? Investors will be watching for signs of improvement in Royal Caribbean's financial performance when the company reports earnings on May 5, 2022 for Q1 FY 2022. A reconciliation to the most comparable US 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. ROYAL CARIBBEAN CRUISES LTD. 1050 Caribbean Way Miami, Florida 33132 : . Photo packages can be purchasedpre-cruise with a discount, or onboard. Second quarter results were meaningfully ahead of the company's . This call can be heard, either live or on a delayed basis, on the Company's Investor Relations website at www.rclinvestor.com. Portfolio has property at its heart, and wed like you to be part of it. Shares of Crocs have declined 57.2% in the past year. 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. We have not provided a quantitative reconciliation of the projected non-GAAP financial measures to the most comparable GAAP financial measures because preparation of meaningful U.S. GAAP projections would require unreasonable effort. Royal Caribbean International (RCI) Royal Caribbean International is a global cruise brand with 21 ships presently in service and one under construction (Mintel, 2010). Due to significant uncertainty, we are unable to predict, without unreasonable effort, the future movement of foreign exchange rates, fuel prices and interest rates inclusive of our related hedging programs. The company also reported Adjusted Net Loss of $(0.5) billion or $(2.08) per share for the second quarter of 2022 compared to Adjusted Net Loss of $(1.3) billion or $(5.06) per share in the prior year. 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. Royal Caribbean Cruises LTD. Job Application Wizard. For the 2022 and 2021 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) gain 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 2021 in relation to the sale of the Azamara brand. (2)Primarily represents asset impairments in 2021 and a credit loss recovery for a note receivable in which credit losses were previously recorded in 2022. It marked the ninth straight quarter of adjusted losses per share. Real time Royal Caribbean Cruises (RCL) stock price quote, stock graph, news & analysis. skindoc336. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS, (unaudited, in thousands, except per share data), Marketing, selling and administrative expenses, Impairment and credit losses (recoveries), Interest expense, net of interest capitalized, Trade and other receivables, net of allowances of $6,099 and $13,411 at March 31, 2022 and December 31, 2021, respectively, Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, 2021, respectively, Current portion of operating lease liabilities, Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding), Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246 shares issued, March 31, 2022 and December 31, 2021, respectively), Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and December 31, 2021, respectively), Total liabilities and shareholders' equity, Loss on derivative instruments not designated as hedges, Amortization of debt discounts and premiums. 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