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royal caribbean cruises ltd (RCL) Key Developments

Royal Caribbean Cruises Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter, Full Year of 2014, 2015, 2016, 2017 and 2018

Royal Caribbean Cruises Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total Revenue was $2,388,762,000, operating income was $529,462,000, net income of $490,248,000 or $2.20 per basic share and $2.19 per diluted share against total Revenue was $2,311,749,000, operating income was $444,209,000, net income of $365,701,000 or $1.66 per basic share and $1.65 per diluted share a year ago. Adjusted net income was $492,853,000 or $2.20 per diluted share compared to $377,023,000 or $1.71 per diluted share a year ago. For the nine months, the company reported total Revenue was $6,256,029,000, operating income was $822,515,000, net income of $654,378,000 or $2.95 per basic share and $2.93 per diluted share against total Revenue was $6,105,736,000, operating income was $723,179,000, net income of $466,674,000 or $2.13 per basic share and $2.11 per diluted share a year ago. Net cash provided by operating activities was $1,459,564,000 compared to $1,230,104,000 a year ago. Purchases of property and equipment were $559,018,000 compared to $534,046,000 a year ago. Adjusted net income was $685,681,000 or $3.07 per diluted share compared to $489,370,000 or $2.22 per diluted share a year ago. Based on current fuel pricing, interest rates and currency exchange rates and the factors detailed before, the company expects fourth quarter adjusted EPS to be in the range of $0.35 to $0.40 per share. For the full year 2014, the company expects full year adjusted EPS to be approximately $3.45 per share. Based upon current ship orders, projected capital expenditures are $1.4 billion. Based upon current ship orders, projected capital expenditures for full year 2015, 2016, 2017 and 2018 are $1.4 billion, $2.2 billion, $0.3 billion and $1.5 billion, respectively.

Royal Caribbean Cruises Ltd., Q3 2014 Earnings Call, Oct 23, 2014

Royal Caribbean Cruises Ltd., Q3 2014 Earnings Call, Oct 23, 2014

Royal Caribbean Cruises Ltd. Declares Quarterly Cash Dividend Payable on October 2, 2014

The Board of Directors of Royal Caribbean Cruises Ltd. declared $0.05 increase in the quarterly cash dividend to $0.30 per common share payable on October 2, 2014, to shareholders of record at the close of business on September 22, 2014. This move, which was approved unanimously at the board's September 9, 2014, meeting reflects the company's continuing efforts to increase shareholder returns.

Royal Caribbean Cruises Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014; Revised Earnings Guidance for the Full Year 2014

Royal Caribbean Cruises Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $1,980,043,000 against $1,882,767,000 a year ago. Operating income was $195,587,000 against $113,338,000 a year ago. Interest income was $2,630,000 against $3,405,000 a year ago. Net income was $137,673,000 or $0.62 basic and diluted per share against $24,747,000 or $0.11 basic and diluted per share a year ago. Adjusted net income was $146,709,000 or $0.66 diluted per share against $34,197,000 or $0.15 diluted per share a year ago. For the six months, the company reported total revenues of $3,867,267,000 against $3,793,987,000 a year ago. Operating income was $293,053,000 against $278,970,000 a year ago. Interest income was $5,906,000 against $7,152,000 a year ago. Net income was $164,130,000 or $0.74 basic and diluted per share against $100,973,000 or $0.46 basic and diluted per share a year ago. Net cash provided by operating activities was $880,929,000 against $672,788,000 a year ago. Purchases of property and equipment were $342,472,000 against $396,073,000 a year ago. Net debt as on June 30, 2014 was $7,408,586,000. Adjusted net income was $192,828,000 or $0.86 diluted per share against $112,347,000 or $0.51 diluted per share a year ago. The company provided earnings guidance for the third quarter of 2014 revised earnings guidance for the full year 2014. Constant-Currency net yields are expected to be up approximately 4.0% in the third quarter of 2014. NCC excluding fuel is expected to be flat to up 1% on a Constant-Currency basis. Based on current fuel pricing, interest rates and currency exchange rates and the factors detailed above, the company expects third quarter adjusted EPS to be approximately $2.20 per share. Depreciation and amortization in the range of $190 million to $200 million. Interest expense in the range of $55 million to $60 million. The company has raised full year adjusted EPS guidance to a range of $3.40 to $3.50 driven by a successful second quarter. Outperforming the mid-point of guidance for the second quarter by $0.16, with $0.07 related to the timing of expenses, drove the increase. Constant-Currency net revenue yields and net cruise costs excluding fuel are expected to be consistent with our previous guidance of up 2% to 3% and flat to slightly down, respectively. Depreciation and amortization in the range of $775 million to $785 million. Interest expense in the range of $250 million to $255 million. Based upon current ship orders, projected capital expenditures for full year 2014, 2015, 2016, 2017 and 2018 are $1.4 billion, $1.4 billion, $2.2 billion, $0.3 billion and $1.5 billion, respectively.

Royal Caribbean Cruises Ltd., Q2 2014 Earnings Call, Jul 24, 2014

Royal Caribbean Cruises Ltd., Q2 2014 Earnings Call, Jul 24, 2014

 

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