IT’S smooth sailing at Royal Caribbean Cruises according to the company’s latest results, which brought in its highest second quarter earnings.
Royal Caribbean Cruises reported a net income of US$369.5m for the quarter ending 30 Jun, up a whopping US$139.6m on the same period last year.
Jason T. Liberty, executive vice president and cfo said “Demand has remained strong, and we have captured the related revenue opportunity”.
Liberty said the demand trends and “continued cost discipline” had put the company in position for another record year.
The company’s booked position for the remainder of 2017 continues to set new records and it said bookings for the next 12 months were strong, up on both rate and volume, versus the same time last year.
During the quarter, the company’s capacity dipped 4%, with overall capacity changes for full year 2017, 2018, 2019, 2020 and 2021 expected to be -1.9%, 3.3%, 6.6%, 3.9% and 7.9%, respectively.
The better-than-anticipated results prompted an upgrade full year adjusted EPS guidance to US$7.35-$7.45, up $0.30 at the midpoint on previous guidance.
