However, it marks a slight deterioration from the previous quarter's rate of 59.3%. Together, the brands have an additional 10 ships on order as of June 30, 2022. 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. New Hire Executive Move. Approximately 70% of the company's debt is tied to fixed interest rates. 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. It's probably happening to everybody in my opinion. As of March 31, 2022, the company's customer deposit balance was $3.6 billion. You can see the complete list of todays Zacks #1 Rank stocks here. The Group expects its entire fleet of 63 ships will be operational by the beginning of the 2022 summer season. Due to this uncertainty, we do not believe that reconciling information for such projected figures would be meaningful. All personal injury cases are complex, but those involving cruise lines and maritime laws can involve even more intricate laws and statutes. In the second quarter, approximately 90% of total bookings were new versus FCC redemptions. 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. RCL Financial Summary. 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. Each guest who sails onboard will set up an Onboard Account. The Zacks Consensus Estimate for the company's third-quarter bottom line is pegged at 23 cents per share. Career Designer. "We have taken and will continue to take proactive actions to improve our cash flow, balance sheet and methodically address near-term maturities.". Australia, one of the last remaining countries to re-open, announced the resumption of cruising effective April 2022. Together, their brands operate a global fleet of 60 ships traveling to more than 800 destinations. (7) Included within Other income in our consolidated statements of comprehensive loss. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). I have 3 cruises cancelled due to COVID. 26.23 K/sq.ft. These statements include, but are not limited, to: statements regarding revenues, costs and financial results for 2022 and beyond. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. The debut of the 2021 sustainability report comes on the heels of Royal Caribbean Group announcing that they have committed to an additional five-year partnership with World Wildlife Fund (WWF). Who can I speak with regarding my onboard purchase? 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). Of the redeemed FCCs, about half have already sailed resulting in revenue being recognized. For 2023, all quarters are currently booked within historical ranges at record pricing. (10) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Royal Caribbean had returned 54 of 62 ships to operations by the end of the first quarter of 2022. One of the most important is World Wildlife Fund. 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. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com. "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. Real time Royal Caribbean Cruises (RCL) stock price quote, stock graph, news & analysis. 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. Statement of "Qualified Personal Property" by a "Qualified Business". RCL Occupancy Rate. 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. 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. This means that we're transitioning to the point where everyone will be able to vacation with us while always working with our destination partners to meet their regulations. Click the button below to request a report when hardcopies become available. 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). These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. We, Yahoo, are part of the Yahoo family of brands. 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. Travel Norwegian Cruise Line Beats Earnings Estimates and Signals Record 2023. The company posted a bigger adjusted loss per share than expected. After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. 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. I think we get over a million different attacks a day. In the prior-year quarter, the company reported a loss per share of $4.91. Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise holding company incorporated in Liberia and based in Miami, Florida, United States.It is the world's second-largest cruise line operator, after Carnival Corporation & plc.As of January 2021, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and . Definition. Royal Caribbean International doesnt control how long the refund process takes; After your sailing we send a link to your email address on file. 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. Although such changes in local currency prices are just one of many elements impacting our revenues and expenses, it can be an important element. It added that booking volumes in March and April have been significantly higher than the same period in 2019, before the pandemic. There are far fewer balcony cabins on older Royal Caribbean ships (and all older cruise ships in general). The second half of 2022 is booked below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). The Scotsman Pennysaver The Eagle Newspapers The Syracuse New Times WCNY WRVO To our loyal artists and friends, who are so numerous that to attempt to list them, would . Find out more about how we use your information in our privacy policy and cookie policy. "It is gratifying to see our ships and crew returning to our mission of delivering the best vacation experiences in a safe and responsible way," said Jason Liberty, president and chief executive officer of the Royal Caribbean Group. You can learn more about the standards we follow in producing accurate, unbiased content in our. (1)For the quarter and six months ended June 30, 2019, the amount does not include incremental fuel expenses incurred of $0.7 million related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. The consensus mark for revenues stands at $3 billion, suggesting a whopping 557.6% surge from the year-ago reported figure. Those challenges are mainly related to fuel and food costs as well as certain transitory costs related to health and safety protocols. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. 3589 (2023) 2023 Cable Television & Public Utility Property Report. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. 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. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding US GAAP measures. 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. Royal Caribbean canceled its Bahamas cruise for its ship . As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.Crocs, Inc. CROX has an Earnings ESP of +1.48% and a Zacks Rank #1. Royal Caribbean ( RCL 1.41%) Q3 2021 Earnings Call. Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Load factors increased to almost 90% in June, with Caribbean itineraries averaging over 100%. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. The occupancy rate, which the company refers to simply as "occupancy," is a key metric gauging the amount of available passenger capacity being utilized. 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. October 28, 2022 1:26 pm. An increase in ticket revenues, and onboard and other revenues are likely to have aided the top line.The Zacks Consensus Estimate for third-quarter passenger ticket revenues, and onboard and other revenues is currently pegged at $2,042 million and $933 million, respectively, indicating $280 million and $177 million growth from the respective prior-year quarters reported figures. Second quarter load factors were 82%. Third. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. 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. Net Cruise Costs ("NCC") and NCC excluding FuelNet Cruise Costs represent Gross Cruise Costs excluding commissions, transportation and other expenses and onboard and other expenses and, in the case of Net Cruise Costs excluding Fuel, fuel expenses. Silver Endeavour is scheduled to begin service winter 2022, spending its inaugural season in Antarctica starting November 2022. Balcony cabins: 1,796 (65%). ROYAL CARIBBEAN GROUP REPORTS ON 2021 RESULTS, PROVIDES BUSINESS UPDATE. Shares of Crocs have declined 57.2% in the past year. Operating cash flow significantly improved throughout the first quarter and approached breakeven in March. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Restructuring charges and other initiatives expense included within marketing, selling and administrative expenses. The Group also expects cash flow from ships in operation to be positive in the second quarter. Championing Communities and the Environment. (For Additional Reporting) 3217. "The performance of our core business continues to strengthen, fueled by strong demand and excellent operational execution," said Naftali Holtz, chief financial officer at Royal Caribbean Group. 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 . These ships, along with six other new ships which have joined the fleet over the last 20 months and represent over 10% of total capacity, are significantly contributing to yield growth and profitability. 3 min read. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In February, the company entered into a $3.15 billion backstop facility, which provides flexibility in refinancing debt maturities due in June 2023. Royal Caribbean Group. Because European itineraries generate higher than average pricing, the lower load factors are expected to negatively impact the comparison of fleetwide revenue per passenger cruise day in the third quarter when compared to the third quarter of 2019. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. ESG at Royal Caribbean Group. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. I purchased photos before or during my cruise, but I havent received my photo link. Our proven model does not conclusively predict an earnings beat for Royal Caribbean this time around. If you purchased Royal Caribbean Travel Protection and wish to file a travel insurance claim, please contact our service partner AON. 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. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. If you w *Please see all applicable Terms & Conditions for Promotions. While the Group remains optimistic to capture long-term growth opportunities in that market, ships planned for China have been temporarily redeployed to meet the demand in other markets. (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. If you sailed on Independence of the Seas: If your inquiry is about a product purchased onboard Independence of the Seas and you saile For inquiries about purchases made while you were in port, please contact Royal Media Partners onlineor by phone at (305) 673-9500 or 1-855-769-2567. We have a long-lasting partnership with our travel advisors across the globe. Nous, Yahoo, faisons partie de la famille de marques Yahoo. We can assist you in every other area but if you wish to g Any luggage claims can be made by contacting us atroyalguestrelations@rccl.com. We do not make predictions about future exchange rates and use current exchange rates for calculations of future periods. Net interest expense for the third quarter of 2022, based on current interest rates, is expected to be in the range of $310 million - $320 million. However, it marks a slight . Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. 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. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. In measuring our ability to control costs in a manner that positively impacts net income, we believe changes in Net Cruise Costs and Net Cruise Costs excluding Fuel to be the most relevant indicators of our performance. (12/26/2018) Royal Caribbean Cruises has recently been ranked #248 on the 2018 Management 250 list by Drucker Institute, which measures the corporate effectiveness of publicly-traded US companies who have a stock-market capitalization of $10 billion or revenue of at least $3 billion. 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. Personal Finance Credit Cards. Personal Data: Contact . (4)Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. However, some refunds may take up to 30 days to post. In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. The second half of the year is booked slightly below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). To read this article on Zacks.com click here. Royal Caribbean rip off. The measure of capacity assumes double occupancy per cabin, which is why occupancy rates greater than 100% are possiblesometimes cabins are occupied by more than two passengers. Click the button below to request a report when hardcopies become available. 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 . The ship has been renamed Silver Endeavour and joined the Silversea fleet on July 21. We continue to see a robust and accelerating demand environment for cruising and on-board spend. 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. Cision Distribution 888-776-0942 These measures may be different from adjusted measures used by other companies. Together, the brands have an additional 11 ships on order as of March 31, 2022. 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. 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. Net interest expense for the second quarter of 2022 is expected to be in the range of $300-$310 million. The port will include shops, a large pool, and restaurants. What Happened and Who Was Responsible, Trailing 12 Months (TTM): Definition, Calculation, and How It's Used, What Is the Unemployment Rate? Adjusted EBITDAAdjusted EBITDA represents EBITDA (as defined below) excluding (i) other income; (ii) impairment and credit losses (recoveries); (iii) restructuring charges and other initiative expenses; (iv) equity investment asset impairments; (v) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; and (vi) the net gain recognized in 2021 in relation to the sale of the Azamara brand. Bookings have now been surpassing comparable 2019 levels for the last two months with particularly strong trends for North America based itineraries. Zacks Rank: Zacks Rank. All shipboard photo products and services can be purchased onboard at the Focus Photo Gallery. Please fill out the form below and click "Place Order" to complete your order. As of June 30, 2022, the Group's liquidity position was $3.3 billion, which includes cash and cash equivalents, undrawn revolving credit facility capacity, and a $700 million commitment for a 364-day term loan facility. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. "Our near-term focus is to return to full operations and profitability as we execute on our recovery and build for long term success.". NCC, excluding fuel, per APCD is expected to significantly improve in the second half of the year compared to the first half of 2022 and be higher for the second half of 2022 by mid-single digits compared to the second half of 2019 all on a constant currency basis. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com. 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.". Both positive or constructive feedback is always welcomed as continue to try and make sure we provide the top tier quality of service you expect from us. During the first quarter, the Group carried approximately 800,000 guests and achieved record guest satisfaction scores and record total revenue per Passenger Cruise Day. Load factors in the second quarter were 82% overall, with June sailings reaching almost 90%. FREE Digital Banking access. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. It is not possible to predict or identify all such risks. Royal Caribbean Cruises LTD. Job Application Wizard. Were unableto offer sales of any photographic products or services after your cr For inquiries about a product you purchased onboard, please contact Starboard Cruises at(800) 540-4785 or online. Investing.com. Read More. Bookings for Europe sailings improved throughout the first quarter but softened due to the war in Ukraine with a bigger impact on Baltic itineraries. In the last . Nov. 14, 2022 at 8:51 a.m. The company's shares fell more than 1% in pre-market trading. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. For the third quarter, the company reported sales was . 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. CROXs earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 21.9%. 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. During the second quarter, the Group generated operating cash flow of approximately $0.5 billion. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and will continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: governmental and self-imposed travel restrictions and guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than we expect in reducing the risk of infection and spread of such disease on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; an increase in concern about the risk of illness on our ships or when travelling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign currency exchange rates, the impact of higher interest rate and fuel prices; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States. 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Estimates and Signals record 2023, to: statements regarding revenues, costs and financial results 2022...
