Royal Caribbean Group has increased its full-year profit forecast from $10.70 to $10.90 per share for a second time following the strongest wave season in the company’s history.
Reporting its first quarter financial results on Thursday (25 April), the cruise giant – which operates Royal Caribbean International, Celebrity Cruises and Silversea Cruises – announced it expects to achieve all of its Trifecta financial goals this year.
These include triple digit earnings before interest, taxes, depreciation and amortisation (EBITDA), return on invested capital “in the teens” and double-digit earnings per share a year earlier than prior expectations.
During its last earnings call in February, Liberty said the company believed it would achieve “two of our trifecta goals one year early”.
It is the second time Royal had raised its full-year profit forecast. In February, its guidance was for a range of $9.50 to $9.70, but three weeks later that was upped to $9.90 to $10.10.
On Thursday (26 April), the group reported a total revenue of $3.7 billion for the first three-month period of 2024 and a net income of $360 million, compared to a net loss of $48 million in the same period last year, the group added.
As of 31 March, the group’s customer deposit balance stood at $6 billion, while load factors were 107%.
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