In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. In the last . Unvaccinated guests age 12 and older, leaving from Florida ports (effective Aug. 1 to Dec. 31, 2021) must show proof of a travel insurance policy that has at . The Group continues to make strides in its healthy return to operations in a strong demand environment. Ships that operated the Group's core itineraries in the first quarter achieved a load factor of 59%. Guests are still booking their cruises closer-in compared to prior years, contributing to the better-than-expected load factors in the second quarter. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and 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: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, 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; our ability to accurately estimate our monthly cash burn rate during the suspension of our operations; concerns over safety, health and security of guests and crew; any protocols we adopt across our fleet relating to COVID-19, such as those recommended by the Healthy Sail Panel, may be costly and less effective than we expect in reducing the risk of infection and spread of COVID-19 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; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US 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, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; 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; emergency ship repairs, including the related lost revenue; 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. The company has scheduled a conference call at 10:00 a.m. Eastern Time today. FREE Digital Banking access. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. It marked the ninth straight quarter of adjusted losses per share. You can change your choices at any time by visiting your privacy controls. Revenue per available room (RevPAR) is calculated by multiplying a hotel's average daily room rate by its occupancy rate. MIAMI, July 28, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). 8/3/2022. It is calculated by dividingpassenger cruise daysby the available passenger capacity, as measured byavailable passenger cruise days(APCD). The customer deposit balance at the end of the first quarter of 2022 was similar to the March 31, 2019 balance for the three brands. Changes in operating assets and liabilities: Increase in trade and other receivables, net, Increase in prepaid expenses and other assets, Decrease in accrued expenses and other liabilities, Cash received on settlement of derivative financial instruments, Cash paid on settlement of derivative financial instruments, Investments in and loans to unconsolidated affiliates, Cash received on loans to unconsolidated affiliates, Proceeds from the sale of property and equipment and other assets, Net cash provided by financing activities, Effect of exchange rate changes on cash and cash equivalents, Net (decrease) increase in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Notes receivable issued upon sale of property and equipment and other assets, Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities. Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. These statements include, but are not limited, to: statements regarding revenues, costs and financial results for 2022 and beyond. Request for Exemption of Personal Property Stored in a Public Warehouse. Operating cash flow significantly improved throughout the first quarter and approached breakeven in March. For this reason, we also monitor our revenues and expenses in "Constant-Currency" - i.e., as if the current period's currency exchange rates had remained constant with the comparable prior period's rates. Company profile for Royal Caribbean Group including key executives, insider trading, ownership, revenue and average growth rates. We would love to hear your feedback. However, it marks a slight deterioration from the previous quarter's rate of 59.3%. October 27, 2022 12:36 pm. In the last reported quarter, the company delivered a positive earnings surprise of 6.7%. UPDATE 1-Chesapeake Energy to offload part of south Texas operations for $1.4 bln, CANADA FX DEBT-C$ posts biggest decline in one month as 'hard-landing' risk weighs, Marketmind: Finally, bad news is bad news, Netflix earnings due out Thursday, 'Avatar' sequel becomes sixth-biggest film of all time, MORNING BID-Finally, bad news is bad news. As of June 30, 2022, the Group's liquidity position was $3.3 billion, which includes cash and cash equivalents, undrawn revolving credit facility capacity, and a $700 million commitment for a 364-day term loan facility. The occupancy rate, which the company refers to simply as "occupancy," is a key metric gauging the amount of available passenger capacity being utilized. We also reference original research from other reputable publishers where appropriate. Who can I speak with regarding my onboard purchase? Available Passenger Cruise Days ("APCD")APCD is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Because European itineraries generate higher than average pricing, the lower load factors are expected to negatively impact the comparison of fleetwide revenue per passenger cruise day in the third quarter when compared to the third quarter of 2019. Together, the brands have an additional 11 ships on order as of March 31, 2022. 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. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. 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. 3589 (2022) 2022 Cable Television & Public Utility Property Report. A percentage in excess of 100% indicates that three or more passengers occupied some cabins. Oct 29, 2021, 10:00 a.m. Read about Enrons CEO and the companys demise. MIAMI - February 4, 2022 - Royal Caribbean Group (NYSE: RCL) today reported financial results for the 2021 fiscal year and provided business updates. The Group expects to operate approximately 10.3 million Available Passenger Cruise Days (APCD) for the second quarter with load factors of 75% to 80%. Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities . Who can I speak with regarding my missing photos? A reconciliation to the most comparable US GAAP measure of all adjusted financial measures included in this press release can be found in the tables included at the end of this press release. As of February 25, 2022, it operated 61 ships. Travel Norwegian Cruise Line Beats Earnings Estimates and Signals Record 2023. Please make sure that you have the Personal Property Report and that you filled out included in the e-mail as you will need it as part of your claim. 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. We act ethically and with integrity so we all can thrive. EBITDA and Adjusted EBITDA were calculated as follows (in thousands): Impairment and credit losses (recoveries) (9). How can I file a claim if my luggage was damaged? Ripoff Report on: Royal Caribbean - Royal caribbean cruise ships a total rip off 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. If you w *Please see all applicable Terms & Conditions for Promotions. "Price Chart: RCL and S&P 500.". CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS, (unaudited, in thousands, except per share data), Marketing, selling and administrative expenses, Impairment and credit losses (recoveries), Interest expense, net of interest capitalized, Trade and other receivables, net of allowances of $6,099 and $13,411 at March 31, 2022 and December 31, 2021, respectively, Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, 2021, respectively, Current portion of operating lease liabilities, Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding), Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246 shares issued, March 31, 2022 and December 31, 2021, respectively), Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and December 31, 2021, respectively), Total liabilities and shareholders' equity, Loss on derivative instruments not designated as hedges, Amortization of debt discounts and premiums. We invest in our communities to foster culture and inclusive opportunities, and we go above and beyond to protect the environment and ocean health for future generations. Load factors in the second quarter were 82% overall, with June sailings reaching almost 90%. Who can I speak to? Net Cruise Costs ("NCC") and NCC excluding FuelNet Cruise Costs represent Gross Cruise Costs excluding commissions, transportation and other expenses and onboard and other expenses and, in the case of Net Cruise Costs excluding Fuel, fuel expenses. (4)Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. The debut of the 2021 sustainability report comes on the heels of Royal Caribbean Group announcing that they have committed to an additional five-year partnership with World Wildlife Fund (WWF). 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 Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. 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. Statement of "Qualified Personal Property" by a "Qualified Business". Find out more about how we use your information in our privacy policy and cookie policy. For additional information see "Adjusted Measures of Financial Performance" below. For the second half of 2022, net cruise costs, excluding fuel per APCD, are likely to be higher by mid-single digits compared with 2019. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. 3589 (2023) 2023 Cable Television & Public Utility Property Report. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Championing Communities and the Environment. 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. MOST RECENT 2021 Annual Report and Form 10K. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The cruise line plans to integrate it into the local . The Group is now offering cruises in almost all of its destinations. Job Opportunities. Portfolio has property at its heart, and wed like you to be part of it. Click Manage settings for more information and to manage your choices. "Royal Caribbean Cruises Ltd (RCL).". Based on this change, we are continuing to adapt our protocols to align more closely with how the rest of society and other travel and leisure businesses are operating. Selected Operational and Financial Metrics. Consumption is 55% hedged via swaps for the remainder of 2022 and 25% hedged for 2023. I think we get over a million different attacks a day. What Happened and Who Was Responsible, Trailing 12 Months (TTM): Definition, Calculation, and How It's Used, What Is the Unemployment Rate? This compensation may impact how and where listings appear. Based on the strong and close-in nature of bookings, the company expects load factors will continue to improve each quarter and expects fleetwide load factors to exceed 100% by year end. Depreciation and amortization expenses for the second quarter of 2022 are expected to be in the range of $350-$355 million. Together, the brands have an additional 10 ships on order as of June 30, 2022. This compares to loss of $5.06 per share a year ago. We invest in our communities to foster culture and inclusive opportunities, and we go above and beyond to protect the environment and ocean health for future generations. All rights reserved. As a result, all quarters are currently booked within historical ranges at record pricing. The Group continues to make . 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. Royal Caribbean expects its full fleet of ships to be operational by the start of the 2022 summer season. Earnings for Royal Caribbean Cruises are expected to grow in the coming year, from ($7.72) to $2.95 per share. For the 2022 periods presented, we calculate "Constant-Currency" by applying the average 2019 or Q1 2022 period exchange rates for each of the corresponding months of the reported and/or forecasted period, so as to calculate what the results would have been had exchange rates been the same throughout both periods. Thank you for your patience! Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. 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. For the third quarter of 2022 and based on current currency exchange rates, fuel rates and interest rates, the company expects to generate approximately. I have 3 cruises cancelled due to COVID. (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. Cash flow from ships in operation was positive in the first quarter. For inquiries on art youve purchased onboard our ships, please contact Park West at (800) 521-9654. When typing in this field, a list of search results will appear and be automatically updated as you type. 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). The Group expects a return to net profit for the second half of 2022. The second half of the year is booked slightly below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). The port will include shops, a large pool, and restaurants. Why do I have a pending authorization on my bank account? Royal Caribbean Cruises Ltd. RCL reported mixed first-quarter 2022 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The Group expects to return the full fleet to operations before the summer season of 2022. Royal Caribbean Cruises Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. "Consumers' propensity to travel and cruise remains strong. Crown & Anchor points take about two weeks from the end of your sailing to post to your account. Royal Caribbean ( RCL 1.41%) Q3 2021 Earnings Call. We have not provided a quantitative reconciliation of the projected non-GAAP financial measures to the most comparable GAAP financial measures because preparation of meaningful U.S. GAAP projections would require unreasonable effort. RCL Occupancy Rate. Shares of Cedar Fair have declined 12.8% in the past year. Shares of RCI Hospitality have improved 21% in the past year. Royal Caribbean Group today reported a second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). . We have a long-lasting partnership with our travel advisors across the globe. Balcony cabins: 1,796 (65%). 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. Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected by changes in currency exchange rates. 2021 Seastainability Report | Download PDF. Royal Caribbean'soccupancy rate came in below expectations. To read this article on Zacks.com click here. (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 $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. Mixed first-quarter 2022 results, with earnings beating the Zacks earnings Calendar first... To operations before the opening bell revenue per available room ( RevPAR ) calculated... By a & quot ; Group RCL is scheduled to Report its third-quarter 2022 on... Respective Cruises revenue and average growth rates our privacy policy and cookie policy the summer.... And Signals Record 2023 last reported quarter, the brands have an additional 10 ships on order of... Request for Exemption of Personal Property & quot ; by a & quot.! Rcl is scheduled to Report its third-quarter 2022 results, with June sailings reaching almost 90.! Post to your account of upcoming earnings announcements with the Zacks earnings.... * Please see all applicable Terms & Conditions for Promotions Caribbean Cruises are expected to be in second. Record pricing for additional information see `` Adjusted Measures of financial Performance '' below Terms & Conditions for.... We act ethically and with integrity so we all can thrive earnings surprise of 6.7.... & P 500. `` `` royal Caribbean Group today reported third quarter and nine months ended September,. ( 5 ) Represents estimated cash refunds expected to be paid to Pullmantur guests as part of it policy cookie. Any Time by visiting your privacy controls results, with earnings beating Zacks. 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