Royal Caribbean Cruises Ltd. "Royal Caribbean Group Reports First Quarter 2022 Results and Provides a Business Update. Represents equity investment asset impairments primarily for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Adjusted Measures of Financial PerformanceThis press release includes certain adjusted financial measures defined as non-GAAP financial measures under Securities and Exchange Commission rules, which we believe provide useful information to investors as a supplement to our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles, or US GAAP. 3589 (2022) 2022 Cable Television & Public Utility Property Report. (5) Represents equity investment asset impairments for TUI Cruises GmbH in 2021 as a result of the impact of COVID-19. Other assets, net of allowances of $72,648 and $86,781 at June30, 2022 and December31, Common stock ($0.01 par value; 500,000,000 shares authorized; 283,076,357 and 282,703,246, Treasury stock (28,018,385 and 27,882,987 common shares at cost, June30, 2022 and, Purchase of property and equipment included in accounts payable and accrued, Restructuring charges and other initiatives expense included within, Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Based on current fuel prices, the company expects approximately $271 million of fuel expense in its second quarter 2022 at an average pricing of $695 per metric ton net of hedging. Click the button below to request a report when hardcopies become available. Annualized Return. OccupancyOccupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. MIAMI, Feb. 22, 2021-- Royal Caribbean Group (NYSE: RCL) today reported financial results for the fiscal year of 2020 and commented on the business considering the global COVID-19 pandemic. "Despite the impact of Omicron earlier in the year and the horrific conflict in Ukraine, we are encouraged by the strong demand for cruising and the steady acceleration in booking volumes," Liberty added. Throughout a sailing, pending authorizations (holds) are issued to cards on file as a way to secure funds for onboard processed transactions. Read More. Each guest who sails onboard will set up an Onboard Account. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Second quarter results were meaningfully ahead of the company's expectations driven by accelerating and strong close-in demand, further improvement in onboard revenue and better cost performance. Adjusted Net Loss and Adjusted Loss per Share were calculated as follows (in thousands, except per share data): Impairment and credit losses (recoveries) (2), Restructuring charges and other initiatives expense, Amortization of Silversea Cruises intangible assets related to Silversea Cruises acquisition, Convertible debt amortization of debt discount (3), Net gain related to the sale of the Azamara brand, Weighted-Average Shares Outstanding - Diluted. Occupancy ("Load Factor")Occupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. Looking for a particular position? "Royal Caribbean Cruises Ltd (RCL).". The Osceola County Sheriff's Office has been a CFA-accredited law enforcement agency since 1999.. kickass proxy unblock. Portfolio has property at its heart, and wed like you to be part of it. (3) Represents the amortization of non-cash debt discount on our convertible notes. personal property report royal caribbeanmaritime crewing agency. We can assist you in every other area but if you wish to g Any luggage claims can be made by contacting us atroyalguestrelations@rccl.com. Of the redeemed FCCs, about half have already sailed resulting in revenue being recognized. Investopedia requires writers to use primary sources to support their work. MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58). Thank you for your patience! NCC, excluding fuel, per APCD is expected to significantly improve in the second half of the year compared to the first half of 2022 and be higher for the second half of 2022 by mid-single digits compared to the second half of 2019 all on a constant currency basis. The company expects its full fleet to be in operation before the summer season of 2022. Oct 29, 2021, 10:00 a.m. In instances where Onboard Credits are issued due to an itinerary change or service recovery, the credit may be issued in the value of either a dollar amount or for a value equal to a specific number of days. Earnings for Royal Caribbean Cruises are expected to grow in the coming year, from ($7.72) to $2.95 per share. Increased penetration of pre-cruise purchases is likely to have driven RCLs onboard revenue performance in the to-be-reported quarter.However, China, which is closed to international travelers, is likely to have hurt its performance. These notes are due in 2027 with proceeds to be used to repay principal payments on debt maturing in 2022. Load factors in the second quarter were 82% overall, with June sailings reaching almost 90%. The company also reported Adjusted Net Loss of $(0.5) billion or $(2.08) per share for the second quarter of 2022 compared to Adjusted Net Loss of $(1.3) billion or $(5.06) per share in the prior year. In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. The Groups' cruise operating expenses per Available Passenger Cruise Days (APCD) improved in the first quarter 2022 from the fourth quarter 2021 despite inflationary pressures and elevated health protocol costs. Both positive or constructive feedback is always welcomed as continue to try and make sure we provide the top tier quality of service you expect from us. Bandwidth is the data transfer capacity of a network in bits per second (Bps). Bunker pricing, net of hedging, for the first quarter was $588 per metric ton and consumption was 321,000 metric tons. Third. Who can I speak with regarding my spa purchase? For 2023, all quarters are currently booked within historical ranges at record pricing. View PDF View Form 10K (HTML) Royal Caribbean Group does not currently have any hardcopy reports on AnnualReports.com. Adjusted Net (Loss) IncomeAdjusted Net (Loss) Income represents Net (Loss) Income excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. Royal Caribbean International (RCI) Royal Caribbean International is a global cruise brand with 21 ships presently in service and one under construction (Mintel, 2010). During the first quarter, four additional ships resumed operations. Carnival has a deal to create a private island-like cruise port in Grand Bahama. The company continues to thoughtfully ramp up the fleet and load factors while emphasizing industry-leading health and safety standards, world-class guest experiences and financial prudence. This compares to loss of $5.06 per share a year ago. The second half of 2022 is booked below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). Guests may notice pending charges or authorizations on their credit card. We believe that good governance and transparency are critical to our ESG strategy and performance. Approximately 27% of the customer deposit balance is related to FCCs compared to 32% in the prior quarter, a positive trend indicating new demand. Cision Distribution 888-776-0942 That represents about 90% of its global fleet capacity. MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE:RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58). (11)Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. ROYAL CARIBBEAN CRUISES LTD's latest 10-Q financial filing, filed on 2022-11-03. . Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. The presentation of adjusted financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. It added that booking volumes in March and April have been significantly higher than the same period in 2019, before the pandemic. Cruising remains a very attractive value proposition for vacationers, and today we have an opportunity to further close the value gap to other land-based vacation offerings," added Liberty. The cruise line plans to integrate it into the local . Ripoff Report on: Royal Caribbean - Royal caribbean cruise ships a total rip off In the second quarter, approximately 90% of total bookings were new versus FCC redemptions. All personal injury cases are complex, but those involving cruise lines and maritime laws can involve even more intricate laws and statutes. Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. Whether you are looking to buy a poolside villa or sell a holiday apartment in a purpose-built development, our London office provides a comprehensive, quality service to ensure all . "Last week, the CDC ended its COVID-19 Program for Cruise Ships. Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures and performance. Third quarter results were better than expected and above guidance for the quarter mainly due to higher load factors from strong close-in demand, further improvement in onboard revenue and better cost performance. With the fleet back in service, we have the full strength of our platform as we continue to execute on our recovery and build on our capabilities for long-term success.". Across all markets, bookings in the first quarter of 2022 were higher than in the fourth quarter of 2021, and throughout the first quarter, bookings improved each week. Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246, Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and, Purchase of property and equipment included in accounts payable and accrued, Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving, https://www.prnewswire.com/news-releases/royal-caribbean-group-reports-first-quarter-2022-results-and-provides-a-business-update-301540761.html. Second quarter results exceeded the company's expectations driven by better revenue and cost performance. Shares of Crocs have declined 57.2% in the past year. Adjusted (Loss) Earnings per Share ("Adjusted EPS")Represents Adjusted Net (Loss) Income divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. If you are missing any Crown & Anchor points from one of your previous sailings or have any inquiries regarding your account, please contact us at crown We would love to hear your feedback about your experience on your last sailing with us. Personal finance may involve paying for education . Royal Caribbean Group does not currently have any hardcopy reports on AnnualReports.com. If you sailed on Independence of the Seas: If your inquiry is about a product purchased onboard Independence of the Seas and you saile For inquiries about purchases made while you were in port, please contact Royal Media Partners onlineor by phone at (305) 673-9500 or 1-855-769-2567. In addition, we are unable to determine the future impact of non-core business related gains and losses which may result from strategic initiatives. Third quarter load factors are expected to average approximately 95%, with itineraries in North America (including the Caribbean, Alaska, Bermuda, West Coast, and Canada) averaging about 100%. These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. Booking volumes received in the second quarter for 2022 sailings averaged 30% above 2019 booking volumes for 2019 sailings in the corresponding period in the second quarter with even greater strength in July. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. It's probably happening to everybody in my opinion. Adjusted Loss per Share ("Adjusted EPS")Represents Adjusted Net Loss divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. Request for Exemption of Personal Property Stored in a Public Warehouse. Championing Communities and the Environment. Gross Cruise Costs per APCD improved 2.4% as reported and 1.9% in constant currency, compared to the first quarter 2022. While the Group remains optimistic to capture long-term growth opportunities in that market, ships planned for China have been temporarily redeployed to other markets. Royal Caribbean stock price target raised to $76 from $56 at UBS. Personal Finance Credit Cards. Click Manage settings for more information and to manage your choices. Raising 78 million, the July auction During the first quarter, the Group carried approximately 800,000 guests and achieved record guest satisfaction scores and record total revenue per Passenger Cruise Day. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. Our proven model does not conclusively predict an earnings beat for Royal Caribbean this time around. For the third quarter, the company reported sales was . "Price Chart: RCL and S&P 500.". It is not possible to predict or identify all such risks. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and will continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: governmental and self-imposed travel restrictions and guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than we expect in reducing the risk of infection and spread of such disease on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; an increase in concern about the risk of illness on our ships or when travelling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign currency exchange rates, the impact of higher interest rate and fuel prices; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States. ROYAL CARIBBEAN CRUISES LTD. 1050 Caribbean Way Miami, Florida 33132 : . That's why we've assembled a wealth of information to assist you in. Zacks Rank: Zacks Rank. (For Additional Reporting) 3217. (12/26/2018) Royal Caribbean Cruises has recently been ranked #248 on the 2018 Management 250 list by Drucker Institute, which measures the corporate effectiveness of publicly-traded US companies who have a stock-market capitalization of $10 billion or revenue of at least $3 billion. Find it here! This report discusses the executive compensation determinations made by the . "We reached two important milestones in our recovery this quarter returning our entire global fleet back to operations and delivering positive operating cash flow and EBITDA," said Jason Liberty, president and chief executive officer of Royal Caribbean Group. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary. Based on current currency exchange rates and fuel rates, the company expects Adjusted EBITDA of $700 million - $750 million in the third quarter. Some of the property in the control of the Royal Family is owned by the Crown Estate, and others they privately own. The improvement in costs from earlier in the year is expected to be driven by lower expenses related to returning ships and crew to operations, easing health protocols, and accelerating benefit from actions taken to improve margin. . I would like to speak to someone regarding the experience I had on my most recent cruise, who can I contact. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. Net interest expense for the second quarter of 2022 is expected to be in the range of $300-$310 million. Restructuring charges and other initiatives expense included within marketing, selling and administrative expenses. I have 3 cruises cancelled due to COVID. Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. "It is gratifying to see our ships and crew returning to our mission of delivering the best vacation experiences in a safe and responsible way," said Jason Liberty, president and chief executive officer of the Royal Caribbean Group. RECORD-BREAKING BOOKINGS FOR A RECORD-BREAKING SHIP: ROYAL CARIBBEAN'S ICON OF THE SEAS SETS . The Net Loss and Adjusted Net Loss for the quarter are primarily the result of the continued impact of the COVID-19 pandemic on the business. October 27, 2022 2:00 pm. Now that the full fleet has returned to service and load factors are nearly 90%, the company expects customer deposits to return to typical seasonality. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. Passenger cruise days are a metric calculated by taking the number of passengers carried during the measurement period and multiplying that by the number of days of the passengers' respective cruises.
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