Royal Caribbean Cruises, Ltd (RCCL), the Miami based listed cruise shipping group, has reduced its earnings per share (EPS) guidance for the full year 20219 on unfavourable foreign exchange movements and an incident at the Grand Bahama shipyard in April, in which one of its vessels was damaged.
“The company expects its full year Adjusted EPS to be in the range of $9.65 to $9.85 per share. This range includes the negative impact of $0.25 per share from the shipyard incident and also includes the negative impact of approximately $0.25 per share from currency and fuel since the January guidance,” RCL said in a statement.
In January, the company said adjusted earnings are expected to be in the range of $9.75 to $10.00 per share for the full year.
“Better first quarter results and an improved revenue outlook are offsetting the vast majority of these two negative impacts. Excluding these impacts, Adjusted EPS would have been in the range of $10.15 to $10.35 per share.
“Overall, the company's booked position remains at a record level in both rate and volume. As it has in the past, the company noted that its booked position on rate and volume is a product of numerous factors including market forces, itinerary composition, market segmentation and the company's revenue management decisions,’ RCCL said.
Net Yields for the year are expected to increase 7.5% to 9.0% in Constant-Currency, up relative to prior guidance due to better results in the first quarter as well as stronger demand for the balance of the year. While the incident at the Grand Bahama Shipyard had a negative impact on overall revenue, it was neutral to Net Yields.
NCC excluding Fuel for the year are expected to be up approximately 10.0% in Constant-Currency, higher than previous guidance mainly due to the canceled sailings that reduced capacity, RCCL stated.
