Royal Caribbean Cruises Ltd. Earnings Cheat Sheet: Revenue Grows By Double-Digits For Fifth Straight Quarter

Royal Caribbean Cruises Ltd. (NYSE:RCL) reported its results for the second quarter. Royal Caribbean Cruises Ltd. operates in cruise vacation industry. It owns five cruise brands, Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, and CDF Croisieres de France.

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Royal Caribbean Cruises Earnings Cheat Sheet for the Second Quarter

Results: Net income for Royal Caribbean Cruises Ltd. rose to $93.5 million (43 cents per share) vs. $53.7 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 74% from the year earlier quarter.

Revenue: Rose 10.4% to $1.77 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Excluding certain items, RCL would have earned 47 cents per share, topping the mean analyst estimate of 44 cents per share. Analysts were expecting revenue of $1.8 billion.

Quoting Management: “Since our last guidance, the turmoil in the Eastern Mediterranean has caused pricing to deteriorate even further for this region. Fortunately, our other markets are performing exceptionally well and we have been able to take our cost reductions to the next level. As a result, profitability is still growing nicely year-over-year, but these disruptions have undermined our expectations for even better performance this year,” said Richard D. Fain, chairman and chief executive officer. Fain continued, “Our long-term outlook remains highly positive and, with a strengthening balance sheet and solid liquidity, we are pleased to reinstate our dividend. It is our intention to continue paying quarterly dividends at this level or higher as our performance improves and we work toward our goal of returning to Investment Grade.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 13.8%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 18.7% from the year earlier quarter.

Competitors to Watch: Carnival Corporation (NYSE:CCL), Wyndham Worldwide Corp. (NYSE:WYN), Carnival plc (NYSE:CUK), Ambassadors Intl., Inc. (NASDAQ:AMIE).

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(Source: Xignite Financials)