Due to this, we cannot speak about the finances on a reservation once a guest has booked through a travel agency. During the first quarter, four additional ships resumed operations. Together, the brands have an additional 11 ships on order as of March 31, 2022. The company posted a bigger adjusted loss per share than expected. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Trade and other receivables, net of allowances of $7,897 and $13,411 at June30, 2022 and. 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. The Group expects a return to net profit for the second half of 2022. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. 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).Second quarter results were . Annualized Return. 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. How are Onboard Credits & Future Cruise Credits Calculated? We do not make predictions about future exchange rates and use current exchange rates for calculations of future periods. "We have taken and will continue to take proactive actions to improve our cash flow, balance sheet and methodically address near-term maturities.". The company's operating cash flow, while slightly negative in March, turned positive in April, an important step in returning to profitability. As of the date of this release, fuel consumption is 56% hedged via swaps for the remainder of 2022 and 36% hedged for 2023 below market prices. For the 2022 periods presented, we calculate "Constant-Currency" by applying the average 2019 or Q1 2022 period exchange rates for each of the corresponding months of the reported and/or forecasted period, so as to calculate what the results would have been had exchange rates been the same throughout both 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. For additional information see "Adjusted Measures of Financial Performance" below. In the prior-year quarter, the company reported a loss per share of $4.91. Second quarter results exceeded the company's expectations driven by better revenue and cost performance. 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. The Group is now offering cruises in almost all of its destinations. "Much of what the Royal Caribbean Group has achieved has involved collaborators and partners. The Groups' cruise operating expenses per Available Passenger Cruise Days (APCD) improved in the first quarter 2022 from the fourth quarter 2021 despite inflationary pressures and elevated health protocol costs. Who can I speak with regarding my art purchase? Royal Caribbean's next earnings report (for Q2 FY 2022) is expected to be released on Aug. 3, 2022. While bookings for Europe are now exceeding 2019 levels for the same period, the situation in Ukraine is expected to weigh on load factors in Europe this summer. Looking for a particular position? Feb 22, 2021, 08:07 ET. I purchased photos before or during my cruise, but I havent received my photo link. After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. Royal Caribbean Cruises Ltd. price-eps-surprise | Royal Caribbean Cruises Ltd. Quote. One of the most important is World Wildlife Fund. Another property on the Windsor estate, Fort Belvedere is the Queen's "forgotten castle" in Surrey, built between 1750 and 1755 and owned by the Crown Estate. Royal Caribbeans third-quarter performance is likely to have benefited from strong demand for leisure travel and cruising, improved booking trends and solid onboard spending. 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. Bunker pricing, net of hedging, for the first quarter was $588 per metric ton and consumption was 321,000 metric tons. October 27, 2022 2:00 pm. Royal Caribbean Cruises Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246, Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and, Purchase of property and equipment included in accounts payable and accrued, Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving, https://www.prnewswire.com/news-releases/royal-caribbean-group-reports-first-quarter-2022-results-and-provides-a-business-update-301540761.html. Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. 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. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. I would like to speak to someone regarding the experience I had on my most recent cruise, who can I contact. ESG at Royal Caribbean Group. The occupancy rate is a measure of the amount of available passenger capacity, or cabins, being utilized. You can change your choices at any time by visiting your privacy controls. "Since our return to service last year, we have seen more than 3 million guests enjoy cruise vacations responsibly, under an evolving operating environment," said Liberty. As expected, load factors for sailings in the second half of 2022 remain below historical levels and are expected to finish at approximately 95% in the third quarter and reach triple digits by the end of the year. 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. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. 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. Jason Liberty Executive Vice President/CFO Royal Caribbean Cruises "It is happening. 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. Together, their brands operate a global fleet of 60 ships traveling to more than 800 destinations. Image source: The Motley Fool. March load factors were 68%. 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. You can see the complete list of todays Zacks #1 Rank stocks here. (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. Royal Caribbean had returned 54 of 62 ships to operations by the end of the first quarter of 2022. 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. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com. In most cases, refunds will post to the original form of payment about 7 to 10 days after theyre fully processed. How can I redeem my Future Cruise Credit? 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. skindoc336. Please fill out the form below and click "Place Order" to complete your order. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). 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).The Group continues to make . CROXs earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 21.9%. For 2023, all quarters are currently booked within historical ranges at record pricing. It's probably happening to everybody in my opinion. Constant-CurrencyA significant portion of our revenues and expenses are denominated in currencies other than the U.S. Dollar. MOST RECENT 2021 Annual Report and Form 10K. Net Cruise Costs (NCC), excluding fuel, per APCD improved 16.5% as reported and 16.2% in constant currency, compared to the first quarter of 2022. Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures and performance. The Group made significant progress in its recovery trajectory in the first quarter mainly due to continued strong demand for cruising and nimble execution in a challenging operating environment. Investopedia does not include all offers available in the marketplace. The company's shares fell more than 1% in pre-market trading. Net interest expense for the second quarter of 2022 is expected to be in the range of $300-$310 million. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and 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: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, 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; our ability to accurately estimate our monthly cash burn rate during the suspension of our operations; concerns over safety, health and security of guests and crew; any protocols we adopt across our fleet relating to COVID-19, such as those recommended by the Healthy Sail Panel, may be costly and less effective than we expect in reducing the risk of infection and spread of COVID-19 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; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US 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, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; 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; emergency ship repairs, including the related lost revenue; 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. Click the button below to request a report when hardcopies become available. It added that booking volumes in March and April have been significantly higher than the same period in 2019, before the pandemic. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. 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. The storm already lashed St. Barts, St. Martin and Barbuda with 180 mph winds, killing at least 9 people and causing extensive destruction. All rights reserved. Royal Caribbean Group today reported a second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). 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. These measures may be different from adjusted measures used by other companies. Despite securing photos, video, and witness testimony, Royal Caribbean has made zero effort to provide any compensation. 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. Travel Norwegian Cruise Line Beats Earnings Estimates and Signals Record 2023. I have 3 cruises cancelled due to COVID. All shipboard photo products and services can be purchased onboard at the Focus Photo Gallery. 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. As of February 25, 2022, it operated 61 ships. Any luggage claims can be made by contacting us at royalguestrelations@rccl.com.. 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. 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. (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. Available Passenger Cruise Days ("APCD")APCD 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. 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. Request Information. We, Yahoo, are part of the Yahoo family of brands. 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. RICKs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%. 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. 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. For the second half of 2022, net cruise costs, excluding fuel per APCD, are likely to be higher by mid-single digits compared with 2019. 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. Core itineraries exclude sailings during the early ramp-up period of up to four weeks. 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 . Find out more about how we use your information in our privacy policy and cookie policy. The Company reported Net Loss for the first quarter of 2022 of $(1.2) billion or $(4.58) per share compared to Net Loss of $(1.1) billion or $(4.66) per share in the prior year. Third quarter results were better than expected and above . A percentage in excess of 100% indicates that three or more passengers occupied some cabins. (10) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Read about Enrons CEO and the companys demise. 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. These notes are due in 2027 with proceeds to be used to repay principal payments on debt maturing in 2022. Those challenges are mainly related to fuel and food costs as well as certain transitory costs related to health and safety protocols. Where can I get financial information if I booked through a Travel Advisor? The 59-acre fort is where . Of the redeemed FCCs, about half have already sailed resulting in revenue being recognized. (4)Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. 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. Guests may notice pending charges or authorizations on their credit card. Royal Caribbean Cruises Ltd. (RCL) reportedQ1 FY 2022 earningsthat missed analyst expectations. 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. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. "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. Where can I file a claim for my travel insurance? FUNs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%. View original content to download multimedia:https://www.prnewswire.com/news-releases/royal-caribbean-group-reports-first-quarter-2022-results-and-provides-a-business-update-301540761.html, Trade and other receivables, net of allowances of $6,099 and $13,411 at March 31, 2022 and. Bookings for Europe sailings improved throughout the first quarter but softened due to the war in Ukraine with a bigger impact on Baltic itineraries. 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. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. 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. These include white papers, government data, original reporting, and interviews with industry experts. RCI Hospitality Holdings, Inc. RICK has an Earnings ESP of +4.15% and a Zacks Rank #2. Second quarter results were meaningfully ahead of the company's . 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. Read More. 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. Pre-cruise onboard purchases continue to exceed prior years at higher prices, indicating quality and healthy future demand. For the third quarter, the company reported sales was . All personal injury cases are complex, but those involving cruise lines and maritime laws can involve even more intricate laws and statutes. 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. The Group continues to make . The company reported Net Loss for the second quarter of 2022 of $(0.5) billion or $(2.05) per share compared to Net Loss of $(1.3) billion or $(5.29) per share in the prior year. We connect people to the wonders of the world and help them create unforgettable memories. 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. However, it marks a slight . Gross Cruise CostsGross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses. Over the past year, Royal Caribbean's shares have provided atotal returnof -7.4%, below the S&P 500's total return of 3.3%. In June, the Group completed the return of its global fleet to operations across key destinations. This compares to loss of $5.06 per share a year ago. 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. First quarter load factor was 57% with month-over-month sequential improvements. To read this article on Zacks.com click here. 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. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding U.S. GAAP measures. 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. 3 Analysts expect the company to . 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. The Group expects to operate approximately 10.3 million Available Passenger Cruise Days (APCD) for the second quarter with load factors of 75% to 80%. You can redeem your Future Cruise Credit online, orthrough your Travel Advisor. 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. RCL Financial Summary. Award. The company has scheduled a conference call at 10:00 a.m. Eastern Time today. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. You can learn more about the standards we follow in producing accurate, unbiased content in our. Why do I have a pending authorization on my bank account? 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. 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. Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. Throughout a sailing, pending authorizations (holds) are issued to cards on file as a way to secure funds for onboard processed transactions. The Zacks Consensus Estimate for the company's third-quarter bottom line is pegged at 23 cents per share. Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. Adjusted Net (Loss) IncomeAdjusted Net (Loss) Income represents Net (Loss) Income excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis.
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