Royal Caribbean (NYSE: RCL) reported Q3 EPS of $2.20, $0.01 better than the analyst estimate of $2.19. Revenue for the quarter came in at $2.39 billion versus the consensus estimate of $2.41 billion.

Net Yields on a Constant-Currency basis increased 4.2% during the quarter. Onboard and Other Revenue drove the slight upside, particularly in Europe and Alaska, with onboard revenue yields also increasing 4.4% during the quarter.

Constant-Currency NCC excluding fuel decreased 1.2% mainly due to timing. Bunker pricing net of hedging for the third quarter was $688 per metric ton and consumption was 335,000 metric tons.

2015 OUTLOOK

The company is experiencing strong early booking trends for 2015. Booked load factors and APDs are higher than same time last year and the booking window has extended. Europe sailings are off to a particularly good start, with strong booking trends from North America and from Europe. Caribbean pricing pressure continues through the first quarter, but we expect it to improve thereafter.

It is early days yet, but the view looking forward is very encouraging and the company is optimistic that 2015 will be the sixth consecutive year for yield growth. The company has sufficient visibility into 2015 to say that it is comfortable with the Street consensus of $4.55 per share. That would represent more than a 30% increase over this year's record profitability.

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