Cruise line operator Royal Caribbean Group (NYSE: RCL) Tuesday reported higher revenue and adjusted earnings for the third quarter of 2024.
- Q3 net Income rose to $1.11 billion or $4.21 per share from $1.01 billion or $3.65 per share in the same period in the prior year
- Adjusted profit was $1.4 billion or $5.20 per share in the third quarter, compared to $1.1 billion or $3.85 per share in Q3 2023
- Total revenues advanced to $4.89 billion in the September quarter from $4.16 billion in the year-ago quarter
- During the quarter, gross margin yields increased 13.4% as reported, and net yields rose 7.9% in constant currency, on a year-over-year basis
- The load factor for the quarter was 111%; gross cruise costs per available passenger cruise days increased by 1.3% as reported
- Net cruise costs, excluding fuel per APCD, increased by 4.0% in constant currency, on an unadjusted basis
- The management expects net yields to increase in the range of10.8% to 11.3%, in constant currency, in fiscal 2024
- Full-year adjusted EPS is expected to grow 71% year-over-year; to the range of $11.57 to $11.62