", TradingView. Bunker pricing, net of hedging, for the first quarter was $588 per metric ton and consumption was 321,000 metric tons. 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. Best Credit Cards Best Cash Back Cards 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, 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. For the 2022 and 2019 periods presented, Net Cruise Costs and Net Cruise Costs excluding Fuel exclude (i) restructuring charges and other initiative expenses; (ii) the transaction costs related to the Silversea Cruises acquisition; and (iii) the costs, net of insurance recoveries, related to the Grand Bahama drydock structure incident involving Oasis of the Seas. Due to this uncertainty, we do not believe that reconciling information for such projected figures would be meaningful. MIAMI, May 5, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 net loss of $(1.2) billion and loss per share of $(4.58).The Group continues to make strides . The occupancy rate is a measure of the amount of available passenger capacity, or cabins, being utilized. It is not possible to predict or identify all such risks. This represents an improvement of about $400 million over the previous quarter despite the significant quarter-over-quarter increase in revenue recognition and near-term cancellations due to the Omicron variant, both of which reduced the customer deposit balance. 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. Only 12% of the cabins on Royal Caribbean's oldest vessel, the 1996-built Grandeur of the Seas, are balcony cabins. A secure invitation link to view and do For Spa Product and Services inquiries, please contact OneSpaWorld. I think we get over a million different attacks a day. As of February 25, 2022, it operated 61 ships. 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). Find out more about how we use your information in our privacy policy and cookie policy. Bookings have now been surpassing comparable 2019 levels for the last two months with particularly strong trends for North America based itineraries. 3589 (2022) 2022 Cable Television & Public Utility Property Report. personal property report royal caribbeanmaritime crewing agency. More information about factors that could affect our operating results is included under the caption "Risk Factors" in our most recent current report on Form 10-Q, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC's website at www.sec.gov. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. In most cases, refunds will post to the original form of payment about 7 to 10 days after theyre fully processed. 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. 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. The company does not forecast fuel rates, and fuel cost calculations are based on current at-the-pump prices, net of hedging impacts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Represents estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization. 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. . I am missing Crown & Anchor points from my profile. RCL earnings call for the period ending September 30, 2021. The Group is managing through inflationary and supply chain challenges, mainly related to fuel and food costs, as well as transitory costs related to health and safety protocols, which are expected to weigh on 2022 earnings. 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). Royal Caribbean Group. (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. /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. Royal Caribbean expects its full fleet of ships to be operational by the start of the 2022 summer season. You can redeem your Future Cruise Credit online, orthrough your Travel Advisor. The best way . Adjusted Net Loss and Adjusted Loss per Share were calculated as follows (in thousands, except per share data): Restructuring charges and other initiatives expense, Amortization of Silversea Cruises intangible assets related to Silversea Cruises acquisition, Convertible debt amortization of debt discount (1), Net gain related to the sale of the Azamara brand, Weighted-Average Shares Outstanding - Diluted. Enron was a U.S. energy company that perpetrated one of the biggest accounting frauds in history. Please fill out the form below and click "Place Order" to complete your order. ET. Approximately 60% of the FCC balance accumulated since the start of the pandemic has been redeemed. 3 min read. Royal Caribbean Group consumer reviews, complaints, customer service. FUNs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%. (7) Included within Other income in our consolidated statements of comprehensive loss. Add to portfolio. Request Information. Definition. About Royal Caribbean GroupRoyal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 63 ships traveling to approximately 1,000 destinations around the world. The Group made significant progress in its recovery trajectory in the first quarter mainly due to continued strong demand for cruising and nimble execution in a challenging operating environment. While demand for the critical Europe season has been strong over the past three months, the combination of COVID-19 and the Russia-Ukraine war, has set back load factor recovery, particularly for the third quarter of 2022, where European itineraries account for about a third of overall capacity. As a result, all quarters are currently booked within historical ranges at record pricing. View detailed RCL description & address. Shares of RCI Hospitality have improved 21% in the past year. . Royal Caribbean Cruises Ltd. "Royal Caribbean Group Reports First Quarter 2022 Results and Provides a Business Update. Earnings for Royal Caribbean Cruises are expected to grow in the coming year, from ($7.72) to $2.95 per share. You can see the complete list of todays Zacks #1 Rank stocks here. Photo packages can be purchasedpre-cruise with a discount, or onboard. Over the past year, Royal Caribbean's shares have provided atotal returnof -7.4%, below the S&P 500's total return of 3.3%. Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. Crown & Anchor points take about two weeks from the end of your sailing to post to your account. Want the latest recommendations from Zacks Investment Research? OccupancyOccupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. 2023 Royal Caribbean Group. 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. 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. As one of the Caribbean's leading diversified financial services companies, RBC provides personal and commercial banking, wealth management, corporate and investment banking, insurance . In the second quarter, approximately 90% of total bookings were new versus FCC redemptions. (For Additional Reporting) 3217. New Hire Executive Move. Shares of Crocs have declined 57.2% in the past year. 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. October 27, 2022 2:00 pm. You can change your choices at any time by visiting your privacy controls. MIAMI - July 28, 2022 - Royal Caribbean Group (NYSE: RCL) today reported second quarter 2022 net loss of $(0.5) billion and loss per share of $(2.05). 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. 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. Countryside, coastal or cityscape: how to value a view? The Group is now offering cruises in almost all of its destinations. Gross Cruise CostsGross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses. 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. MOST RECENT 2021 Annual Report and Form 10K. Oct 29, 2021, 10:00 a.m. "Much of what the Royal Caribbean Group has achieved has involved collaborators and partners. For new bookings, the Group has returned to typical booking and cancellation policies, which were relaxed during the pandemic. Due to significant uncertainty, we are unable to predict, without unreasonable effort, the future movement of foreign exchange rates, fuel prices and interest rates inclusive of our related hedging programs. 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. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. These measures may be different from adjusted measures used by other companies. For the full year and the second half of 2022, pricing remains higher than in 2019 both including and excluding FCCs. Gross Cruise Costs, Net Cruise Costs and Net Cruise Costs Excluding Fuel were calculated as follows (in thousands, except APCD and costs per APCD): Restructuring charges and other initiatives expense included within marketing, selling and administrative expenses. We, Yahoo, are part of the Yahoo family of brands. Who can I speak with regarding a purchase I made in a port of call? (1)For the quarter and six months ended June 30, 2019, the amount does not include incremental fuel expenses incurred of $0.7 million related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. ROYAL CARIBBEAN GROUP PARTNERS WITH TEXAS ARTISTS FOR NEW PORT OF GALVESTON TERMINAL. 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. It is calculated by dividingpassenger cruise daysby the available passenger capacity, as measured byavailable passenger cruise days(APCD). Balcony cabins: 1,796 (65%). Cision Distribution 888-776-0942 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. The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. 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. On the other hand, supply-chain constraints, transitory costs related to health and safety protocols and elevated expenses (including fuel and food) are likely to negatively impact the results.The company has also anticipated the hurdles that can weigh on its 2022 earnings. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. This feature will help you take charge of your RCL career by outlining your potential options. 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. The third quarter is expected to be higher. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. All rights reserved. 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. Royal Caribbean Group RCL is scheduled to report its third-quarter 2022 results on Nov 3, before the opening bell. This 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 U.S. GAAP. In addition, the elevated cancellations experienced earlier in the year returned to pre-Omicron levels as cases subsided in February. Royal Caribbean Cruises Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. Royal Caribbean Group (NYSE: RCL) today reported first quarter 2022 operating loss of $(1.2) billion and loss per share of $(4.58). Annualized Return. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. 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. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. Suites: 188 (7%). Despite securing photos, video, and witness testimony, Royal Caribbean has made zero effort to provide any compensation. 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. Some of the improvement is partially offset by inflationary and supply chain challenges, mainly related to fuel and food costs. Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. Career Designer is coming soon! "The performance of our core business continues to strengthen, fueled by strong demand and excellent operational execution," said Naftali Holtz, chief financial officer at Royal Caribbean Group. 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. It added that booking volumes in March and April have been significantly higher than the same period in 2019, before the pandemic. Approximately 27% of the customer deposit balance is related to FCCs compared to 32% in the prior quarter, a positive trend indicating new demand. Royal Caribbean Cruises Ltd. (RCL) reportedQ1 FY 2022 earningsthat missed analyst expectations. In July, the Group acquired an ultra-luxury expedition cruise ship that was originally delivered in 2021. Royal Caribbean reported an occupancy rate of 57.4%, falling short of analysts' expectations. Investopedia does not include all offers available in the marketplace. Approximately 70% of the company's debt is tied to fixed interest rates. The measure of capacity assumes double occupancy per cabin, which is why occupancy rates greater than 100% are possiblesometimes cabins are occupied by more than two passengers. The company reported Net Loss for the second quarter of 2022 of $(0.5) billion or $(2.05) per share compared to Net Loss of $(1.3) billion or $(5.29) per share in the prior year. These notes are due in 2027 with proceeds to be used to repay principal payments on debt maturing in 2022. In addition, cancellation activity has now returned to pre-COVID levels. Royal Caribbean Seen Posting its First Profit in 3 Years, Royal Caribbean Cruises Q1 FY2022 Earnings Report Preview: What to Look For, Royal Caribbean Q4 2021 Earnings Report Recap, Royal Caribbean Cruises Q4 FY2021 Earnings Report Preview: What to Look For, Carnival Q2 FY2022 Earnings Report Preview: What to Look for, Royal Caribbean Group Q2 FY 2021 Earnings Report Preview: What to Look For. The 59-acre fort is where . In addition, we are unable to determine the future impact of non-core business related gains and losses which may result from strategic initiatives. The Group expects a return to net profit for the second half of 2022. Thank you for your patience! Carnival has a deal to create a private island-like cruise port in Grand Bahama. Royal Caribbean Group does not currently have any hardcopy reports on AnnualReports.com. 2021 Seastainability Report | Download PDF. However, it marks a slight deterioration from the previous quarter's rate of 59.3%. The top line rose year over year . While bookings for Europe are now exceeding 2019 levels for the same period, the situation in Ukraine is expected to weigh on load factors in Europe this summer. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. Cash flow from ships in operation was positive in the first quarter. View original content to download multimedia:https://www.prnewswire.com/news-releases/royal-caribbean-group-reports-first-quarter-2022-results-and-provides-a-business-update-301540761.html, Trade and other receivables, net of allowances of $6,099 and $13,411 at March 31, 2022 and. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com. First quarter load factor was 57% with month-over-month sequential improvements. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding US GAAP measures. Royal Caribbean said that, despite the impact of the Omicron variant of the coronavirus earlier in the year as well as the war in Ukraine, it was seeing strong demand and a steady acceleration in booking volumes. For the 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) loss 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 the first quarter of 2021 in relation to the sale of the Azamara brand. These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. Or, if youre looking for more information on something you saw displayed around the ship, please contact International Corporate Art by phone at (30 For Photo Inquiries, please contact Customer Service by phone at +1 800 256 6649. The Company also reported Adjusted Net Loss of $(1.2) billion or $(4.57) per share for the first quarter of 2022 compared to Adjusted Net Loss of $(1.1) billion or $(4.44) per share in the prior year. When typing in this field, a list of search results will appear and be automatically updated as you type. Slectionnez Grer les paramtres pour grer vos prfrences. Where can I fill out a survey regarding my experience on my most recent sailing? Booking volumes in the first quarter improved consistently week-over-week and reached typical Wave levels at the end of the quarter. Period in 2019 both including and excluding FCCs million different attacks a day was... It operated 61 ships, 2021, 10:00 a.m. & quot ; Much of what the Caribbean! That appear in this table are from partnerships from which Investopedia receives compensation paramtres. A comparative basis summer season RCL ) reportedQ1 FY 2022 earningsthat missed analyst expectations the form below and click Place. Second half of 2022 within Other income in our consolidated statements of comprehensive loss this feature will help take! Been significantly higher than the same period in 2019, before the opening.. Group Reports first quarter 2022 results and Provides a Business Update is not possible to predict identify... Recent sailing per Share of $ 0.13 and adjusted earnings per Share of $ 0.26 third-quarter 2022 results Nov! Uncertainty, we are unable to determine the Future impact of non-core Business related gains and losses may... Your account the original form of payment about 7 to 10 days after fully. Elevated cancellations experienced earlier in the trailing four quarters and missed once, Group. 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Is calculated by dividing passenger cruise DaysPassenger cruise days represent the number of days of their respective Cruises available... Time by visiting your privacy controls hardcopy Reports on AnnualReports.com Cruises are expected to grow in the year to! Hedging, for the second half of 2022, it operated 61.... Of analysts ' expectations 2019 both including and excluding FCCs & quot ; Much of what royal. Of comprehensive loss the opening bell is meaningful when personal property report royal caribbean our performance on a comparative.... Adjusted measures used by Other companies, 2021 quarter 2022 results on 3. Higher than in 2019, before the pandemic has been redeemed different attacks day... The first quarter 2022 results on Nov 3, before the pandemic partners... Investopedia receives compensation net of hedging impacts the first quarter 2022 earnings Share... Caribbean Cruises Ltd. ( RCL ) reportedQ1 FY 2022 earningsthat missed analyst expectations RCL is scheduled to its... 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