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With the demand for cruises strong, RCL posted revenue of $2.89 billion above the consensus estimate of $2.82 billion. Meanwhile, its adjusted loss per share of $0.23 was $0.46, better than the analyst estimate of a $0.69 loss in the quarter.
The stronger-than-anticipated demand led to a “record-breaking and extended WAVE season,” the company said in its release. This has also resulted in a robust booking environment for RCL, driving higher load factors and higher prices.
“We knew that demand for our business was strong and strengthening, but we have been pleasantly surprised with how swiftly demand further accelerated well above historical trends and at higher rates,” said Jason Liberty, president and chief executive officer of Royal Caribbean Group. “Leisure travel continues to strengthen as consumer spend further shifts towards experiences. Demand for our brands is outpacing broader travel due to a strong rebound and an attractive value proposition.”
The strong demand resulted in RCL’s full-year adjusted earnings per share guidance of $4.40 to $4.80, smashing the consensus estimate of $3.36. In addition, adjusted EPS for the second quarter is expected to be between $1.50 to $1.60 per share.
