Royal Caribbean Drives Towards Record Yearly Earnings

The recently delivered Symphony of the Seas; Image Courtesy: STX France

Miami-based cruise liner conglomerate Royal Caribbean Cruises ended the first quarter of 2018 with a further rise in its earnings.

RCL delivered a profit of USD 218.7 million in Q1 2018, an increase of 1.9 percent when compared to a profit of USD 214.7 million seen in the same period a year earlier.

In addition, total revenues stood at USD 2.03 billion in the quarter ended March 31, 2018, against USD 2.01 billion posted in Q1 2017.

As explained, the improvement was mainly driven by better than expected revenue from RCL’s global brands and joint ventures.

“We are delighted to report another record breaking quarter and to be driving towards record earnings for the year, above our initial guidance,” Jason T. Liberty, Royal Caribbean Cruises’ executive vice president and CFO, commented.

“Revenues continue to excel and expenses, even including some new demand generating initiatives, continue to be carefully controlled,” Liberty added.

During the quarter, the company also completed the USD 500 million share repurchase program authorized a year ago.

What is more, RCL has increased its forecast of full year adjusted EPS to a range of USD 8.70 to USD 8.90 per share, USD 0.15 above the previous guidance.

The company’s 2018 booked position is better than last year’s record high and ahead in both volume and rate.

“This year is proving to be another strong year with all our brands firing on all cylinders,” Richard D. Fain, RCL’s chairman and CEO, said.

“The market continues to support our growth as our people keep focused on delivering our targets and goals. The strength of this market plus our new ships in 2018 (Symphony of the Seas, Azamara Pursuit, Mein Schiff 1 and Celebrity Edge), position us nicely for 2019 as well,” Fain concluded.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Petrochemical Supply Chain & Logistics Conference & Exhibition

The Petrochemical Supply Chain & Logistics Conference & Exhibition (15 – 16th November, Houston) is positioned at the forefront of the booming Petrochemical industry in North America.

This industry leading event is regarded as the most significant meeting place for supply chain & logistics professionals, where they meet to do business.

More Info

read more >

DREDGING FOR SUSTAINABLE INFRASTRUCTURE

The two-day-long programme offers six highly interactive sessions with contributions from…

read more >