Zacks Investment Research, Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report, Crocs, Inc. (CROX) : Free Stock Analysis Report, Cedar Fair, L.P. (FUN) : Free Stock Analysis Report, RCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis Report. As of June 30, 2022, the Group's customer deposit balance was $4.2 billion, a record high for the company. 2023 Royal Caribbean Group. Championing Communities and the Environment. Based on current fuel rates, the company expects approximately $319 million of fuel expense in the third quarter 2022, at an average pricing of $794 per metric ton, net of hedging. Earnings for Royal Caribbean Cruises are expected to grow in the coming year, from ($7.72) to $2.95 per share. In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. But that's not the case here.Earnings ESP: Royal Caribbean has an Earnings ESP of 0.00%. ROYAL CARIBBEAN GROUP PARTNERS WITH TEXAS ARTISTS FOR NEW PORT OF GALVESTON TERMINAL. Gross Cruise Costs per APCD and NCCper APCD for the second quarter included $7.75 per APCD related to enhanced health protocols and one-time costs to return ships and crew back to operations. Why do I have a pending authorization on my bank account? Words such as "anticipate," "believe," "could," "driving," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "will," "would," "considering", and similar expressions are intended to help identify forward-looking statements. Guests are still booking their cruises closer-in compared to prior years, contributing to the better-than-expected load factors in the second quarter. The Group continues to make strides in its healthy return to operations in a strong demand environment. Over the longer term, changes in guest sourcing and shifting the amount of purchases between currencies can significantly change the impact of the purely currency-based fluctuations. (11)Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. 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. Royal Caribbean's next earnings report (for Q2 FY 2022) is expected to be released on Aug. 3, 2022. Depreciation and amortization expenses for the second quarter of 2022 are expected to be in the range of $350-$355 million. Trade and other receivables, net of allowances of $7,897 and $13,411 at June30, 2022 and. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding U.S. GAAP measures. These include white papers, government data, original reporting, and interviews with industry experts. Oct 29, 2021, 10:00 a.m. Royal Caribbean Cruises LTD. Job Application Wizard. Raising 78 million, the July auction 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 . 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. The Group expects a return to net profit for the second half of 2022. 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. ", TradingView. As of March 31, 2022, the company's liquidity position was $3.8 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 customer deposit balance at the end of the first quarter of 2022 was similar to the March 31, 2019 balance for the three brands. The Group continues to make strides in its healthy return to . Who can I speak with regarding a purchase I made in a port of call? After-Market: $49.00 +0.10 (0.20%) 7:44 PM ET. Cedar Fair, L.P. FUN has an Earnings ESP of +2.38% and a Zacks Rank #3. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Royal Caribbean's occupancy rate, at 57.4% for the first quarter, is a significant improvement from the year-ago quarter's rate of 37.7%. Some of the improvement is partially offset by inflationary and supply chain challenges, mainly related to fuel and food costs. 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. The transaction is expected to be immediately accretive to earnings, cash flow and return on invested capital. Based on current currency exchange rates, fuel rates and interest rates, the Group expects Adjusted Earnings Per Share for the third quarter of $0.05 - $0.25. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. Royal Caribbean Cruises has not formally confirmed its next earnings publication date, but the company's estimated earnings date is Friday, February 3rd, 2023 based off prior year's report dates. MIAMI - February 4, 2022 - Royal Caribbean Group (NYSE: RCL) today reported financial results for the 2021 fiscal year and provided business updates. "Our near-term focus is to return to full operations and profitability as we execute on our recovery and build for long term success.". Of the redeemed FCCs, about half have already sailed resulting in revenue being recognized. 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. 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. skindoc336. 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. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. Due to this, we cannot speak about the finances on a reservation once a guest has booked through a travel agency. 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. In the prior-year quarter, the company reported a loss per share of $4.91. The occupancy rate, which the company refers to simply as "occupancy," is a key metric gauging the amount of available passenger capacity being utilized. (9)Primarily represents asset impairments in 2021 and a credit loss recovery for a note receivable in which credit losses were previously recorded in 2022. 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. 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. As a result, all quarters are currently booked within historical ranges at record pricing. Some of the property in the control of the Royal Family is owned by the Crown Estate, and others they privately own. 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. For the full year and the second half of 2022, pricing remains higher than in 2019 both including and excluding FCCs. OccupancyOccupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.Crocs, Inc. CROX has an Earnings ESP of +1.48% and a Zacks Rank #1. These measures may be different from adjusted measures used by other companies. Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities . To read this article on Zacks.com click here. China remains closed to cruising due to the ongoing pandemic related lockdowns. Represents the amortization of non-cash debt discount on our convertible notes. Revenue for the quarter also missed analyst estimates but was up more than 25-fold as it rebounded off of the previous year's pandemic-depressed lows. View detailed RCL description & address. While load factors for sailings in the second half of 2022 are currently slightly below historical levels, consumers are booking their cruises closer to sailing and the Group is capitalizing on that healthy close-in demand to improve load factors. Our ships operate using a cashless system, so these accounts allow you to link a form of payment with your SeaPass Card which is then used for all onboard transactions. 8/3/2022. "Our liquidity position remains strong as we execute on our return to service, and our operations generate positive cash flow again," said Naftali Holtz, chief financial officer, Royal Caribbean Group. Applying your credit is easy! 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. Enron was a U.S. energy company that perpetrated one of the biggest accounting frauds in history. The Group's fleet size expanded to 63 with the delivery of Wonder of the Seas and Celebrity Beyond in the first quarter and early second quarter, respectively. Those challenges are mainly related to fuel and food costs as well as certain transitory costs related to health and safety protocols. In most cases, refunds will post to the original form of payment about 7 to 10 days after theyre fully processed. Career Designer. In addition, cancellation activity has now returned to pre-COVID levels. A percentage in excess of 100% indicates that three or more passengers occupied some cabins. The Group expects its entire fleet of 63 ships will be operational by the beginning of the 2022 summer season. 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. "Much of what the Royal Caribbean Group has achieved has involved collaborators and partners. Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures and performance. New Hire Executive Move. 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. In June, the Group completed the return of its global fleet to operations across key destinations. Load factors increased to almost 90% in June, with Caribbean itineraries averaging over 100%. EBITDAEBITDA represents Net (Loss) Income excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) income tax benefit or expense. Image source: The Motley Fool. Portfolio has property at its heart, and wed like you to be part of it. In March and April, booking volumes have been significantly higher than the same period in 2019. For the 2022 and 2021 periods presented, these items included (i) impairment and credit losses (recoveries); (ii) restructuring charges and other initiative expenses; (iii) the amortization of the Silversea Cruises intangible assets resulting from the Silversea Cruises acquisition in 2018; (iv) the amortization of non-cash debt discount on our convertible notes; (v) the estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization in 2020; (vi) gain on the extinguishment of debt; (vii) equity investment asset impairments; (viii) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; and (ix) the net gain recognized in 2021 in relation to the sale of the Azamara brand. ROYAL CARIBBEAN CRUISES LTD's latest 10-Q financial filing, filed on 2022-11-03. . Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. 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. We had two adjoining rooms in December - Reservation #5591722 and #5594756 and a cruise in April - Reservation #6384967. . 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 US GAAP. 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