RCL Quarterly Earnings Beat Forecasts

[OysterD]

Royal Caribbean Group managed to beat all forecasts with their first quarter earnings, just released. Turns out, contrary to what some on here would have you believe, its not all doom and gloom and actually record bookings and on board spend meant the first quarter only had a small loss and full year profit expectations were just revised massively upwards. 

 

Overall capacity for Q1 was 102% and they are now expecting full year EBITDA to exceed the previous record set in 2019. 

 

Not bad going if you ask me. I guess the vast majority aren't quite so bothered about a particular cut of beef or paying for room service as some would have you believe. 

[upwarduk]

So, when they insist that both passengers in a cabin take the same beverage package ( even though at 13th one is  below the legal drinking age) I’m not surprised.😱

[mac_tlc]

22 minutes ago, OysterD said:

Royal Caribbean Group managed to beat all forecasts with their first quarter earnings, just released. Turns out, contrary to what some on here would have you believe, its not all doom and gloom and actually record bookings and on board spend meant the first quarter only had a small loss and full year profit expectations were just revised massively upwards. 

 

Overall capacity for Q1 was 102% and they are now expecting full year EBITDA to exceed the previous record set in 2019. 

 

Not bad going if you ask me. I guess the vast majority aren't quite so bothered about a particular cut of beef or paying for room service as some would have you believe. 

To be fair, most if not all of the bookings that created the results were done before many of the changes people have reacted to. Let’s see what the future holds. I believe that the current future prices and changes will impact some bookings —- I know it is impacting ours.

 

mac_tlc

[danceswithphones]

Maybe this will help with financing for Edge V (Excel/Vertex). 

[deliver42]

There will always be non believers no matter what the numbers say. NCL also beat forcasts, so there must be something to it regardless of the changes.

[Baron Barracuda]

Yeah, but ..... even at 102% occupancy they still lost money.  And the rosy full year profit they project is on an adjusted basis which excludes that pesky $1.3B in interest expense.  Yes, they are making progress but it will take many years to clean up their balance sheet.

[Baron Barracuda]

2 minutes ago, deliver42 said:

There will always be non believers no matter what the numbers say. NCL also beat forcasts, so there must be something to it regardless of the changes.

Did you notice after last quarter NCL now has negative stockholders equity?

[Orator]

Just sold my remaining shares for a nice profit

Edited May 4, 2023 by Orator

[Obobru]

1 hour ago, Baron Barracuda said:

Yeah, but ..... even at 102% occupancy they still lost money.  

Because loads of those cruise's were booked with credit not cash. 

[OysterD]

4 hours ago, mac_tlc said:

To be fair, most if not all of the bookings that created the results were done before many of the changes people have reacted to. Let’s see what the future holds. I believe that the current future prices and changes will impact some bookings —- I know it is impacting ours.

 

mac_tlc

They did state they had a very high number of last minute bookings in Q1 which is a big reason revenue was higher than expected. Most of the changes that some viewed as negative were in the first couple weeks of Jan.

 

Also I'm really not seeing prices skyrocketing like some claim. Suites have risen in price, I agree. But they're still being sold at those higher prices so who can blame X for keeping them that high.  Prices for veranda/inside/AQ haven't really jumped that much higher tbh. Slight increases yes, but not enough that it seems to be putting people off.

 

We booked an Asian cruise in AQ for Nov '23 while onboard last year. We left that booking open but decided to go on Beyond this year instead. We paid same for that as we did for our '22 cruise. We've now moved our Nov '23 Asian cruise to Nov '24 and the price is the same. 8 months after original booking made and weve moved it to a  cruise a year later than originally planned, and the price is the same.

 

5 hours ago, danceswithphones said:

Maybe this will help with financing for Edge V (Excel/Vertex). 

. 

I guess it depends when they ordered the 5th ship. They did state the financing for Ascent was already sorted before 2020. Also, please not Excel... I spend most of my days working on Excel, I don't want to be reminded of work onboard! 

[danceswithphones]

2 hours ago, OysterD said:

Also, please not Excel...

I shudder at the thought of Excel but Vertex doesn't do anything for me either. 🙄

Those are the two trademarks they currently hold.