Royal Caribbean Cruises (NYSE: RCL) reported Q3 EPS of $3.49, $0.08 better than the analyst estimate of $3.41. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.57 billion.

KEY HIGHLIGHTS

Third Quarter 2017 results:

• US GAAP and Adjusted Net Income were $752.8 million or $3.49 per share. Last year, US GAAP Net Income was $693.3 million, or $3.21 per share, and Adjusted Net Income was $690.9 million, or $3.20 per share.
• Gross Yields were up 5.6% on a Constant-Currency basis (up 6.2% As-Reported). Net Yields were up 5.3% on a Constant-Currency basis (up 5.9% As-Reported).
• Gross Cruise Costs per APCDs increased 5.2% on a Constant-Currency basis (5.6% As-Reported). Net Cruise Costs ("NCC") Excluding Fuel per APCDs were up 5.7% on a Constant-Currency basis (up 6.0% As-Reported).

Full Year 2017 Forecast:

• Adjusted earnings per share are expected to be in the range of $7.35 to $7.40 per share. This includes a $0.26 negative impact from the recent hurricanes.
• Net Yields are expected to increase approximately 6.0% on a Constant-Currency and As-Reported basis.
• NCC Excluding Fuel per APCDs are expected to be up approximately 2.0% on a Constant-Currency and As-Reported basis.

Outlook

The unprecedented series of hurricanes this summer devastated many people and places in Texas, Florida and the Caribbean and our sympathies go out to all those who suffered and are suffering losses. The repair and recovery efforts have been intense and most of the affected destinations served by our cruise ships have already been reopened or are about to be reopened. Financially, the storms were unusually impactful because of when and where they hit and the net effect was a cost to the company in excess of $55 million or $0.26 per share. Most of this impact was from lost revenue, but there were also direct costs associated with the storms and with the company\'s humanitarian efforts. In addition, there were significant timing shifts across a wide range of activities as expenses were shifted between quarters to adjust to the storms. Nevertheless, the company still expects to generate earnings for the year within the increased range of guidance provided prior to the storms.

"We are only weeks away from crossing the finish line of our Double-Double program and I want to thank all of our employees for their remarkable efforts," said Richard D. Fain, chairman and CEO. "The recent storms presented extraordinary challenges and I am extremely proud of the generosity, strength of character and sense of social responsibility displayed by our employees and the industry as a whole."

For earnings history and earnings-related data on Royal Caribbean Cruises (RCL) click here.