Royal Caribbean stock price target raised to $76 from $56 at UBS. The Company reported Net Loss for the first quarter of 2022 of $(1.2) billion or $(4.58) per share compared to Net Loss of $(1.1) billion or $(4.66) per share in the prior year. Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise holding company incorporated in Liberia and based in Miami, Florida, United States.It is the world's second-largest cruise line operator, after Carnival Corporation & plc.As of January 2021, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and . Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Royal Caribbean Cruises has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Friday, February 3rd, 2023 based off prior year's report dates. Shares of Crocs have declined 57.2% in the past year. The storm already lashed St. Barts, St. Martin and Barbuda with 180 mph winds, killing at least 9 people and causing extensive destruction. Rates by State, Fiscal Quarters (Q1, Q2, Q3, Q4) Explained, Royal Caribbean Group Reports First Quarter 2022 Results and Provides a Business Update, Form 10-K for the Fiscal Year Ended December 31, 2021. The Group made significant progress in its recovery trajectory in the first quarter mainly due to continued strong demand for cruising and nimble execution in a challenging operating environment. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. Jason Liberty Executive Vice President/CFO Royal Caribbean Cruises "It is happening. This call can be heard, either live or on a delayed basis, on the Company's Investor Relations website at www.rclinvestor.com. However, Royal Caribbean is facing a number of inflationary and supply chain challenges that are likely to weigh on earnings this year. "We have taken and will continue to take proactive actions to improve our cash flow, balance sheet and methodically address near-term maturities.". Where can I fill out a survey regarding my experience on my most recent sailing? Each guest who sails onboard will set up an Onboard Account. Operating cash flow and EBITDA were positive for the quarter. 3 Analysts expect the company to . Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding US GAAP measures. Countryside, coastal or cityscape: how to value a view? Royal Caribbean'soccupancy rate came in below expectations. To date, approximately 56% of FCCs have been redeemed. Based on the strong and close-in nature of bookings, the company expects load factors will continue to improve each quarter and expects fleetwide load factors to exceed 100% by year end. The Company has scheduled a conference call at 10:00 a.m. Eastern Time today. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. Net interest expense for the third quarter of 2022, based on current interest rates, is expected to be in the range of $310 million - $320 million. For 2023, all quarters are currently booked within historical ranges at record pricing. The company continues to thoughtfully ramp up the fleet and load factors while emphasizing industry-leading health and safety standards, world-class guest experiences and financial prudence. Booking volumes received in the second quarter for 2022 sailings averaged 30% above 2019 booking volumes for 2019 sailings in the corresponding period in the second quarter with even greater strength in July. Silver Endeavour is scheduled to begin service winter 2022, spending its inaugural season in Antarctica starting November 2022. OccupancyOccupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. Shares of RCI Hospitality have improved 21% in the past year. If you w *Please see all applicable Terms & Conditions for Promotions. Now that the full fleet has returned to service and load factors are nearly 90%, the company expects customer deposits to return to typical seasonality. A quarter is a three-month period on a company's financial calendar that acts as a basis for the reporting of earnings and the paying of dividends. The company posted a bigger adjusted loss per share than expected. Starting Aug. 8, testing will be required for unvaccinated guests on all voyages and for vaccinated guests only on voyages that are six nights or longer. Royal Caribbean Cruises Ltd. "Royal Caribbean Group Reports First Quarter 2022 Results and Provides a Business Update. Second quarter load factors were 82%. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. RCL Occupancy Rate. In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary. It is not possible to predict or identify all such risks. While bookings for Europe are now exceeding 2019 levels for the same period, the situation in Ukraine is expected to weigh on load factors in Europe this summer. The second half of 2022 is booked below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). The customer deposit balance at the end of the first quarter of 2022 was similar to the March 31, 2019 balance for the three brands. Adjusted Net Loss and Adjusted Loss per Share were calculated as follows (in thousands, except per share data): Restructuring charges and other initiatives expense, Amortization of Silversea Cruises intangible assets related to Silversea Cruises acquisition, Convertible debt amortization of debt discount (1), Net gain related to the sale of the Azamara brand, Weighted-Average Shares Outstanding - Diluted. Core itineraries exclude sailings during the early ramp-up period of up to four weeks. MOST RECENT 2021 Annual Report and Form 10K. Royal Caribbean Group is also a 50% owner of a joint venture that includes TUI Cruises and Hapag-Lloyd Cruises. We are committed to decarbonizing our operations through innovation and collaborative partnerships. However, it marks a slight deterioration from the previous quarter's rate of 59.3%. Bookings for Europe sailings improved throughout the first quarter but softened due to the war in Ukraine with a bigger impact on Baltic itineraries. A reconciliation to the most comparable U.S. GAAP measure of all adjusted financial measures included in this press release can be found in the tables included at the end of this press release. It should be emphasized that the use of Constant-Currency is primarily used by us for comparing short-term changes and/or projections. Image source: The Motley Fool. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Based on current currency exchange rates and fuel rates, the company expects Adjusted EBITDA of $700 million - $750 million in the third quarter. ET. The scheduled debt maturities for the remainder of 2022 are $1.6 billion. UPDATE 1-Chesapeake Energy to offload part of south Texas operations for $1.4 bln, CANADA FX DEBT-C$ posts biggest decline in one month as 'hard-landing' risk weighs, Marketmind: Finally, bad news is bad news, Netflix earnings due out Thursday, 'Avatar' sequel becomes sixth-biggest film of all time, MORNING BID-Finally, bad news is bad news. Australia, one of the last remaining countries to re-open, announced the resumption of cruising effective April 2022. Who can I speak with regarding my spa purchase? MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58).The Group continues to make . "Since the beginning of March, booking volumes have exceeded the record levels achieved in 2019 and we are optimistic that 2022 will be a strong transitional year as we return to full operations and profitability in the second half of the year.". ", TradingView. The transaction is expected to be immediately accretive to earnings, cash flow and return on invested capital. The top line rose year over year . If you are missing any Crown & Anchor points from one of your previous sailings or have any inquiries regarding your account, please contact us at crown We would love to hear your feedback about your experience on your last sailing with us. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. This company has a Environmental, Social and Governance Report available to view on our partner site, ResponsibilityReports.com, Royal Caribbean Group (NYSE: RCL) is a cruise vacation company comprised of three award-winning global brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. For the 2022 and 2019 periods presented, Net Cruise Costs and Net Cruise Costs excluding Fuel exclude (i) restructuring charges and other initiative expenses; (ii) the transaction costs related to the Silversea Cruises acquisition; and (iii) the costs, net of insurance recoveries, related to the Grand Bahama drydock structure incident involving Oasis of the Seas. For the 2022 and 2021 periods presented, these items included (i) impairment and credit losses (recoveries); (ii) restructuring charges and other initiative expenses; (iii) the amortization of the Silversea Cruises intangible assets resulting from the Silversea Cruises acquisition in 2018; (iv) the amortization of non-cash debt discount on our convertible notes; (v) the estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization in 2020; (vi) gain on the extinguishment of debt; (vii) equity investment asset impairments; (viii) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; and (ix) the net gain recognized in 2021 in relation to the sale of the Azamara brand. You can change your choices at any time by visiting your privacy controls. October 27, 2022 12:36 pm. Investopedia requires writers to use primary sources to support their work. Who can I speak with regarding my missing photos? Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. Available Passenger Cruise Days ("APCD")APCD is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. Royal Caribbean's next earnings report (for Q2 FY 2022) is expected to be released on Aug. 3, 2022. In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. These measures may be different from adjusted measures used by other companies. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Net Cruise Costs ("NCC") and NCC excluding FuelNet Cruise Costs represent Gross Cruise Costs excluding commissions, transportation and other expenses and onboard and other expenses and, in the case of Net Cruise Costs excluding Fuel, fuel expenses. Across all markets, bookings in the first quarter of 2022 were higher than in the fourth quarter of 2021, and throughout the first quarter, bookings improved each week. Report. Please make sure that you have the Personal Property Report and that you filled out included in the e-mail as you will need it as part of your claim. We continue to see a robust and accelerating demand environment for cruising and on-board spend. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. We connect people to the wonders of the world and help them create unforgettable memories. 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