In March and April, booking volumes have been significantly higher than the same period in 2019. Our proven model does not conclusively predict an earnings beat for Royal Caribbean this time around. New Hire Executive Move. Award. Operating cash flow significantly improved throughout the first quarter and approached breakeven in March. 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. For the remainder of 2022 and all of 2023, the annual average cost per metric ton of the fuel swap portfolio is approximately $473 and $575, respectively. 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 . Although such changes in local currency prices are just one of many elements impacting our revenues and expenses, it can be an important element. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. All rights reserved. The purchase price for the vessel was $275 million, significantly below its estimated original cost. If you w *Please see all applicable Terms & Conditions for Promotions. 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. 26.23 K/sq.ft. A secure invitation link to view and do For Spa Product and Services inquiries, please contact OneSpaWorld. 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 Group (NYSE: RCL) today reported second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). RCL Occupancy Rate. What Happened and Who Was Responsible, Trailing 12 Months (TTM): Definition, Calculation, and How It's Used, What Is the Unemployment Rate? 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. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Some of the property in the control of the Royal Family is owned by the Crown Estate, and others they privately own. The transaction is expected to be immediately accretive to earnings, cash flow and return on invested capital. Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. 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 . 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. Capital expenditures for the remainder of 2022 are expected to be approximately $0.5 billion, excluding the acquisition of Silver Endeavour. Booking volumes received in the second quarter for the back half of 2022 sailings remained significantly higher than booking volumes received in the second quarter of 2019 for the back half of 2019. 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. 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. We also reference original research from other reputable publishers where appropriate. Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. 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. MIAMI - February 4, 2022 - Royal Caribbean Group (NYSE: RCL) today reported financial results for the 2021 fiscal year and provided business updates. 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. Royal Caribbean ( RCL 1.41%) Q3 2021 Earnings Call. Investopedia does not include all offers available in the marketplace. Royal Caribbean'soccupancy rate came in below expectations. Royal Caribbean International doesnt control how long the refund process takes; After your sailing we send a link to your email address on file. It should be emphasized that the use of Constant-Currency is primarily used by us for comparing short-term changes and/or projections. Carnival has a deal to create a private island-like cruise port in Grand Bahama. Report. 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. 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. However, it marks a slight . As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . "Price Chart: RCL and S&P 500.". 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. Cedar Fair, L.P. FUN has an Earnings ESP of +2.38% and a Zacks Rank #3. 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. 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. 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. Royal Caribbean Group. Credit Card FAQs We believe that as a valued RBC Royal Bank customer, you deserve to be well-informed about your credit card. Third quarter results were better than expected and above . /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. 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. Any luggage claims can be made by contacting us at royalguestrelations@rccl.com.. 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. Royal Caribbean Group does not currently have any hardcopy reports on AnnualReports.com. In most cases, refunds will post to the original form of payment about 7 to 10 days after theyre fully processed. The Group also expects cash flow from ships in operation to be positive in the second quarter. The Group expects a return to net profit for the second half of 2022. In January, the company completed an issuance of $1 billion of 5.375% senior unsecured notes. Ocean-view cabins: 176 (6%). "2021 marked the beginning of our return to our mission of delivering the very best vacation experiences," said . 8/3/2022. The offers that appear in this table are from partnerships from which Investopedia receives compensation. "Last week, the CDC ended its COVID-19 Program for Cruise Ships. 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. Shares of Cedar Fair have declined 12.8% 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. 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. The Group expects to return the full fleet to operations before the summer season of 2022. Career Designer is coming soon! These measures may be different from adjusted measures used by other companies. These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2021 and beyond. These include white papers, government data, original reporting, and interviews with industry experts. March load factors were 68%. I think we get over a million different attacks a day. Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. About Royal Caribbean GroupRoyal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 63 ships traveling to approximately 1,000 destinations around the world. Annualized Return. View PDF View Form 10K (HTML) Royal Caribbean Group does not currently have any hardcopy reports on AnnualReports.com. Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities . Shares of Crocs have declined 57.2% in the past year. Source: Predictions based on analysts' consensus fromVisible Alpha. In the prior-year quarter, the company reported a loss per share of $4.91. Read More. 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. This 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 U.S. GAAP. In the second quarter, approximately 90% of total bookings were new versus FCC redemptions. 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. Bookings were new versus FCC redemptions prior-year quarter, approximately 90 % of total bookings new. 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