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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Royal Caribbean Group | NYSE:RCL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.20 | -0.14% | 140.84 | 142.80 | 140.725 | 142.00 | 1,221,005 | 01:00:00 |
By Ben Fox Rubin
Royal Caribbean Cruises Ltd. said its fourth-quarter revenue rose 2.7% as the cruise operator's ticket revenue outperformed expectations thanks to "strong close-in demand" continuing for Europe and Asia itineraries.
The company predicted adjusted earnings of $3.20 to $3.40 a share for the new year, compared with estimates of $3.17 a share from analysts polled by Thomson Reuters. Net yield, a key industry metric measuring revenue per available cruise day, is expected to grow 2% to 3% on a constant currency basis.
Royal Caribbean has appeared to have received limited negative impact from publicity surrounding rival Carnival Corp., which has been hurt by some high-profile calamities at sea. Also, despite some analysts' concerns that Royal Caribbean may face weakening prices for cruises, the company late last year said its order book for the new year was ahead of year-earlier levels on load factor and rates, with most markets showing improvement.
Royal Caribbean, which operates its namesake line and Celebrity cruises, reported a profit of $7 million, or three cents a share, compared with a year-earlier loss of $392.8 million, or $1.80 a share. The prior-year period included an impairment charge of $413.9 million for its Pullmantur brand. Excluding that charge and other items, per-share earnings were 23 cents, up from 10 cents. The company expected 15 cents to 20 cents a share.
Revenue improved to $1.85 billion, in line with analysts expectations of $1.85 billion. Ticket revenue rose 1.2% to $1.29 billion.
Net yields rose 3.8%, above expectations for growth of 2% to 3% excluding currency impacts.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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