- Royal Caribbean Cruises Ltd (NYSE: RCL) reported third-quarter FY22 sales of $2.99 billion, beating the consensus of $2.97 billion. The company reported $456.96 million in revenue in 3Q21.
- Passenger ticket revenues rose to $2.02 billion versus $280.2 million last year.
- Total cruise operating expenses were $1.96 billion versus $813.7 million a year ago.
- The occupancy rate in Q3 was 96.3% versus 36.4% last year.
- Royal Caribbean held $1.57 billion in cash and equivalents as of September 30, 2022.
- The Group's customer deposit balance was $3.8 billion as of September 30, 2022.
- The operating income for Q3 was $298.5 million, with an operating margin of 10%.
- Adjusted EPS of $0.26 beat the analyst consensus of $0.19.
- "Last quarter's better than expected performance was a result of the continued robust demand environment and strong execution by our teams," said CEO Jason Liberty.
- Outlook: Royal Caribbean expects to incur $0.3 billion in capital expenditure for Q4 FY22.
- For Q4, based on current currency exchange rates, fuel rates, and interest rates, the company expects to generate total revenue of approximately $2.6 billion, Adjusted EBITDA of $350 - $400 million, and Adjusted Loss per Share of ($1.30) – ($1.50).
- The Group also introduced the Trifecta Program, a new three-year initiative to drive superior performance.
- Price Action: RCL shares are trading higher by 4.93% at $52.11 on the last check Thursday.
- Photo Via Company
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