Royal Caribbean Cruises (RCL) Tops Q2 EPS by 9c, Raises FY EPS Guidance
Royal Caribbean Cruises (NYSE: RCL) reported Q2 EPS of $0.84, $0.09 better than the analyst estimate of $0.75. Revenue for the quarter came in at $2.06 billion versus the consensus estimate of $2.06 billion.
Royal Caribbean Cruises sees FY2015 EPS of $4.65-$4.75, versus prior guidance of $4.45-$4.65 and the consensus of $4.61.
- Net Yields were up 4.2% on a Constant-Currency basis (down 0.2% As-Reported), modestly better than guidance mostly driven by strength in the Caribbean and China.
- Net Cruise Costs ("NCC") excluding fuel were up 3.4% on a Constant-Currency basis (down 0.1% As-Reported), better than guidance mainly due to timing.
- Adjusted Net Income of $185.0 million, or $0.84 per share, versus $146.7 million, or $0.66 per share in 2014.
- US GAAP Net Income was $185.0 million or $0.84 per share, versus $137.7 million, or $0.62 per share in 2014.
Full Year 2015 forecast:
- Net Yields are expected to increase in the range of 2.9% to 3.9% on a Constant-Currency basis (down 1.1% to 0.1% As-Reported).
- NCC excluding fuel are expected to be better than flat on a Constant-Currency basis (down approximately 2.5% As-Reported), including some increased investment in marketing activities.
- Adjusted EPS is expected to be in the range of $4.65 to $4.75 per share, a $0.15 increase from the mid-point of the company's previous guidance, driven by beneficial currency and fuel rates.
For earnings history and earnings-related data on Royal Caribbean Cruises (RCL) click here.
