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RCCL fourth quarter and full year figures beat forecasts
- Details
- Category: Top Headlines
- Published on Thursday, 27 January 2011 16:25
- Written by Kari Reinikainen
Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping company, reported better than forecast profit for trhe final quarter and full year 2010.
RCCL's fourth quarter 2010 net income of $42.7 million, or $0.20 per share versus $3.4 million, or $0.02 per share in 2009. Analysts’ average forecast was $0.13. Weather and currency related issues reduced earnings by $0.03 per share, but were more than offset by higher revenues and cost containment.
Net Yields increased 3.2%, (4.2% on a Constant Currency basis). Absent extreme weather conditions, constant currency Net Yields would have increased 4.7%;
Net Cruise Costs per APCD ("NCC") were flat, (up 1.0% on a Constant Currency basis).
For the Full Year 2010: net income rose to $547.5 million, or $2.51 per share versus $162.4 million, or $0.75 per share in 2009. The eps comfortably exceeded analysts’ average forecast of $2.08.
Net Yields increased 4.2% (4.4% on a Constant Currency basis); NCC declined 1.8% (down 1.3% on a Constant Currency basis); NCC excluding fuel declined for the third year in a row and were down 1.6%;
As for 2011 guidance, the company said Net Yields are expected to improve 4% to 6% for the full year and 2% to 3% in the first quarter; NCC excluding fuel are expected to increase approximately 2% for the full year and the first quarter; EPS is expected to be between $3.25 and $3.45 for the full year and $0.10 to $0.15 for the first quarter of 2011, based on current fuel prices and currency exchange rates.
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