Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com. "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. It is not possible to predict or identify all such risks. (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 Cruises Ltd. "Royal Caribbean Group Reports First Quarter 2022 Results and Provides a Business Update. 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%. Approximately 60% of the FCC balance accumulated since the start of the pandemic has been redeemed. Customer service contacts and company information. 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. EBITDAEBITDA represents Net (Loss) Income excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) income tax benefit or expense. Annualized Return. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. Oct 29, 2021, 10:00 a.m. The cruise line plans to integrate it into the local . Cedar Fair, L.P. FUN has an Earnings ESP of +2.38% and a Zacks Rank #3. Although such changes in local currency prices are just one of many elements impacting our revenues and expenses, it can be an important element. Source: Predictions based on analysts' consensus fromVisible Alpha. In addition, we are unable to determine the future impact of non-core business related gains and losses which may result from strategic initiatives. We do not make predictions about future exchange rates and use current exchange rates for calculations of future periods. In the second quarter, approximately 90% of total bookings were new versus FCC redemptions. Royal Caribbean had returned 54 of 62 ships to operations by the end of the first quarter of 2022. Booking volumes for 2023 have shown consistent improvement week over week and have been accelerating over the last several weeks. RCI Hospitality Holdings, Inc. RICK has an Earnings ESP of +4.15% and a Zacks Rank #2. Any luggage claims can be made by contacting us at royalguestrelations@rccl.com.. These include white papers, government data, original reporting, and interviews with industry experts. During the second quarter, the Group generated operating cash flow of approximately $0.5 billion. Royal Caribbean Group consumer reviews, complaints, customer service. These statements include, but are not limited, to: statements regarding revenues, costs and financial results for 2022 and beyond. The Group expects a return to net profit for the second half of 2022. In February, the company entered into a $3.15 billion backstop facility, which provides flexibility in refinancing debt maturities due in June 2023. Capital expenditures for the remainder of 2022 are expected to be approximately $0.5 billion, excluding the acquisition of Silver Endeavour. Royal Caribbean's Requirements. Approximately 70% of the company's debt is tied to fixed interest rates. The 59-acre fort is where . 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 . Trade and other receivables, net of allowances of $7,897 and $13,411 at June30, 2022 and. For 2023, all quarters are currently booked within historical ranges at record pricing. Represents equity investment asset impairments primarily for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. 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. 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. 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. 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. For additional information see "Adjusted Measures of Financial Performance" below. For 2023, all quarters are currently booked within historical ranges at record pricing. The Net Loss and Adjusted Net Loss for the quarter are primarily the result of the impact of the COVID-19 pandemic on the business. The port will include shops, a large pool, and restaurants. Find it here! With more than 100 years of dedicated service to the Caribbean, RBC has a presence in 10 countries across the Caribbean, serving nearly one million clients. Please allow at least 5 business days for the vendor to process your request. As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . Shares of Cedar Fair have declined 12.8% in the past year. RICKs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%. In June, the Group completed the return of its global fleet to operations across key destinations. Due to this, we cannot speak about the finances on a reservation once a guest has booked through a travel agency. The third quarter is expected to be higher. (5) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Statement of "Qualified Personal Property" by a "Qualified Business". Request Information. Some of the improvement is partially offset by inflationary and supply chain challenges, mainly related to fuel and food costs. The Group is managing through inflationary and supply chain challenges, mainly related to fuel and food costs, as well as transitory costs related to health and safety protocols, which are expected to weigh on 2022 earnings. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.Zacks Rank: The company has a Zacks Rank #3. The Group is now offering cruises in all of its key destinations with the exception of China. MOST RECENT 2021 Annual Report and Form 10K. 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. Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. Who can I speak to? (8)Excludes income tax (benefit) expense, included in the EBITDA calculation above. Represents the amortization of non-cash debt discount on our convertible notes. 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. 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. Royal Caribbean Group (NYSE: RCL) today reported second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). 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. How can I redeem my Future Cruise Credit? 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. Please fill out the form below and click "Place Order" to complete your order. 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 . However, Royal Caribbean is facing a number of inflationary and supply chain challenges that are likely to weigh on earnings this year. Second quarter results were meaningfully ahead of the company's . October 27, 2022 2:00 pm. 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. Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. Operating cash flow significantly improved throughout the first quarter and is turning positive in April. Request for Exemption of Personal Property Stored in a Public Warehouse. You can redeem your Future Cruise Credit online, orthrough your Travel Advisor. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. You can change your choices at any time by visiting your privacy controls. (10) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Guests may notice pending charges or authorizations on their credit card. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). 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 (RCL) Financial Results: Analysis, Revenue Per Available Room (RevPAR): Definition and Example, What Was Enron? "We reached two important milestones in our recovery this quarter returning our entire global fleet back to operations and delivering positive operating cash flow and EBITDA," said Jason Liberty, president and chief executive officer of Royal Caribbean Group. "Much of what the Royal Caribbean Group has achieved has involved collaborators and partners. 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. 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. Third quarter load factors are expected to average approximately 95%, with itineraries in North America (including the Caribbean, Alaska, Bermuda, West Coast, and Canada) averaging about 100%. We act ethically and with integrity so we all can thrive. Cision Distribution 888-776-0942 The Group continues to make strides in its healthy return to . Our five-pillar Environmental, Social and Governance (ESG) framework anchors everything we do. Image downloads are available for guests who purchased photo packages or photos that included digital files. As a result, all quarters are currently booked within historical ranges at record pricing. After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. Career Designer is coming soon! (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. Earnings for Royal Caribbean Cruises are expected to grow in the coming year, from ($7.72) to $2.95 per share. 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. 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. Bunker pricing, net of hedging, for the second quarter was $721 per metric ton and consumption was 382,000 metric tons. We, Yahoo, are part of the Yahoo family of brands. "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. 2021Seastainability Report | Download PDF. 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. "Since the beginning of March, booking volumes have exceeded the record levels achieved in 2019 and we are optimistic that 2022 will be a strong transitional year as we return to full operations and profitability in the second half of the year.". 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. Shares of Crocs have declined 57.2% in the past year. ROYAL CARIBBEAN GROUP PARTNERS WITH TEXAS ARTISTS FOR NEW PORT OF GALVESTON TERMINAL. Royal Caribbean Cruises Ltd. (RCL) reportedQ1 FY 2022 earningsthat missed analyst expectations. 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. Bookings have now been surpassing comparable 2019 levels for the last two months with particularly strong trends for North America based itineraries. For inquiries on art youve purchased onboard our ships, please contact Park West at (800) 521-9654. OccupancyOccupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. The Group continues to make progress towards profitability with operating cash flow only slightly negative in March and turning positive in April. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. The Group is now offering cruises in almost all of its destinations. Who do I contact? Slectionnez Grer les paramtres pour grer vos prfrences. Today, you can download 7 Best Stocks for the Next 30 Days. Ships that operated the Group's core itineraries in the first quarter achieved a load factor of 59%. In July, the Group acquired an ultra-luxury expedition cruise ship that was originally delivered in 2021. 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. 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. (3) Represents the amortization of non-cash debt discount on our convertible notes. 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