Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $2.71 for the first quarter, which was $0.23 higher than guidance, driven by better revenue and favorable timing of expenses [10][21] - Yields grew by 5.6% in constant currency compared to the first quarter of 2024, exceeding initial guidance by 60 basis points [21] - Adjusted EBITDA margin was 35%, which is 360 basis points better than the previous year [22] Business Line Data and Key Metrics Changes - Bookings for 2025 are outpacing last year, with the best wave season in the company's history [10][11] - Onboard spending and pre-cruise purchases have exceeded prior years, driven by increased participation in onboard activities [11][12] - The Caribbean represents 57% of the company's deployment for the year, with 49% of capacity in the second quarter [22][23] Market Data and Key Metrics Changes - The company is seeing strong demand across all commercial channels, particularly in direct-to-consumer channels [11] - Europe is expected to account for 15% of capacity for the year, while Alaska will account for 6% [23] - Consumer sentiment around leisure vacations remains positive, with 70% of surveyed consumers intending to spend the same or more on leisure travel over the next twelve months [12][13] Company Strategy and Development Direction - The company aims for a 20% compound annual growth rate in adjusted earnings per share through 2027, focusing on moderate capacity and yield growth along with strong cost control [16][24] - Investments are being made in new ships and exclusive destinations to enhance guest experiences and drive loyalty [18][19] - The company is focused on maintaining price integrity while optimizing revenue through a global yield management platform [64] Management's Comments on Operating Environment and Future Outlook - Management acknowledges heightened macroeconomic uncertainty but remains confident in the company's ability to deliver strong financial performance [6][7] - The company is well-positioned to capitalize on the growing $2 trillion vacation market, with a strong balance sheet and cash flow generation [7][15] - Recent booking trends and disciplined cost management are expected to support another year of strong earnings growth [15][28] Other Important Information - The company ended the quarter with $4.5 billion in liquidity and received an investment-grade credit rating upgrade from S&P Global Ratings [30][31] - Share repurchase programs are ongoing, with $1 billion authorized for repurchases, and the company has repurchased 1 million shares [31][32] Q&A Session Summary Question: Drivers of better than planned performance in Q1 - Management noted strong close-in demand and the ability to raise pricing during this period, alongside high-quality customer spending [38][39] Question: Areas of guidance expansion due to macro backdrop - Management expanded guidance ranges to account for broader external factors while maintaining confidence in long-term growth strategies [46][48] Question: Pricing strategy for new ships and potential headwinds - New ships entering service later in the year may create a temporary headwind due to lower average passenger cruise days [54][56] Question: Onboard spending and close-in pricing outlook - Management remains optimistic about consumer spending and has not seen significant changes in cancellation rates or customer behavior [60][62] Question: Capital allocation and share repurchase strategy - The company is focused on maintaining a strong balance sheet while also returning capital to shareholders through dividends and share repurchases [92][94]

Core Viewpoint - Royal Caribbean reported quarterly earnings of $2.71 per share, exceeding the Zacks Consensus Estimate of $2.53 per share, and showing a significant increase from $1.77 per share a year ago, indicating strong performance in the cruise industry [1][2] Financial Performance - The company achieved revenues of $4 billion for the quarter ended March 2025, slightly missing the Zacks Consensus Estimate by 0.17%, but up from $3.73 billion year-over-year [2] - Over the last four quarters, Royal Caribbean has surpassed consensus EPS estimates four times and topped revenue estimates two times [2] Stock Performance - Royal Caribbean shares have declined approximately 6.2% since the beginning of the year, compared to a 6% decline in the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $3.92 on revenues of $4.52 billion, and for the current fiscal year, it is $14.88 on revenues of $17.96 billion [7] - The trend of estimate revisions for Royal Caribbean is mixed, which may change following the recent earnings report [6] Industry Context - The Leisure and Recreation Services industry, to which Royal Caribbean belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]

Financial Performance - First quarter 2025 EPS was $2.70, with Adjusted EPS at $2.71, exceeding guidance due to strong pricing and lower costs[1] - Total revenues for the first quarter reached $4.0 billion, with Net Income of $0.7 billion, compared to $0.4 billion in the same period last year[7] - Total revenues for the quarter ended March 31, 2025, were $3,999 million, an increase of 7.3% compared to $3,728 million in the same quarter of 2024[48] - Net income attributable to Royal Caribbean Cruises Ltd. for the quarter was $730 million, up from $360 million in the prior year, representing a 102.8% increase[48] - Adjusted EPS for the quarter was $2.70, compared to $1.35 in the same quarter of 2024, reflecting a 100% year-over-year growth[48] - Net income for the three months ended March 31, 2025, was $736 million, compared to $364 million in the same period of 2024, representing a 102% increase[55] - Adjusted net income attributable to Royal Caribbean Cruises Ltd. for Q1 2025 was $744 million, up from $478 million in Q1 2024, marking a 55.7% increase[66] - Adjusted EBITDA for Q1 2025 was $1,402 million, compared to $1,174 million in Q1 2024, indicating an increase of 19.4%[63] Operational Metrics - Load factor for the first quarter was 109%, with a 9% increase in guests served, totaling 2.2 million[8] - Passenger cruise days increased to 13,768,332 in Q1 2025, up from 13,149,708 in Q1 2024, indicating a growth of 4.7%[51] - Occupancy rate for the quarter was 108.8%, compared to 107.0% in the same quarter of the previous year[51] - Customer deposits increased to $838 million in Q1 2025, compared to $729 million in Q1 2024, showing a 15% growth[55] - Adjusted gross margin per passenger cruise day (PCD) for Q1 2025 was $237.96, compared to $230.96 in Q1 2024, indicating a 3% increase[59] Guidance and Future Outlook - Full year 2025 Adjusted EPS guidance increased to a range of $14.55 to $15.55, reflecting a year-over-year growth of approximately 28%[6] - Net Yields are expected to increase by 2.5% to 4.5% for the full year, with Gross Margin Yields up 13.9% in the first quarter[6] - The company is targeting a 20% compound annual growth rate in Adjusted EPS by the end of 2027 under its Perfecta Program[37] - Return on Invested Capital (ROIC) is aimed to be 17% or higher by the end of 2027[37] Capital Expenditures and Liquidity - The company anticipates capital expenditures of approximately $5 billion for 2025, primarily for new ship orders and land-based initiatives[21] - As of March 31, 2025, the company's liquidity position was $4.5 billion, including cash and undrawn credit facilities[17] - The company repurchased approximately 1.0 million shares during the quarter, with $759 million remaining for future repurchases[19] Expenses and Cash Flow - Fuel expenses for the second quarter are projected at $286 million, with consumption of 428,000 metric tons, 59% of which is hedged[16] - Total cruise operating expenses for Q1 2025 were $2,079 million, a slight decrease from $2,086 million in Q1 2024[61] - Net cash provided by operating activities for Q1 2025 was $1,627 million, compared to $1,328 million in Q1 2024, an increase of 22.5%[55] Assets and Liabilities - Total assets as of March 31, 2025, were $37,452 million, an increase from $37,070 million as of December 31, 2024[53] - Current liabilities increased to $10,300 million as of March 31, 2025, compared to $9,817 million at the end of 2024[53] New Initiatives - The company is set to debut new ships and destinations, including Star of the Seas and Royal Beach Club Paradise Island, enhancing its competitive position[11] - The company reported a comprehensive income of $837 million for the quarter, up from $417 million in the same quarter of 2024[48]

Accessibility StatementSkip Navigation "Reconnecting with loved ones over new experiences is important to Celebrity guests. Celebrity Xcel will be their happy place with new dining options and all-new entertainment and activities creating endless opportunities to 'Date Night, All Day Long'," said Michael Scheiner, chief marketing and product officer of Celebrity Cruises. "These elevated new experiences will invite guests to discover something new while creating shared memories."  The hardest part of a day o ...

Royal Caribbean Cruises Ltd. (RCL) is scheduled to release first-quarter 2025 results on April 29, 2025.The Zacks Consensus Estimate for RCL’s first-quarter earnings per share (EPS) is pegged at $2.52, suggesting 42.4% growth from the $1.77 reported in the prior-year quarter. The consensus mark has increased 1.2% in the past 60 days. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)RCL's Earnings Estimate Trend Image Source: Zacks Investment Research The consensus mark for third-quar ...

Company Performance - Royal Caribbean's stock closed at $211.31, reflecting a +1.84% change, which underperformed compared to the S&P 500's gain of 2.03% on the same day [1] - Over the past month, Royal Caribbean shares have decreased by 5.62%, which is worse than the Consumer Discretionary sector's decline of 4.94% and the S&P 500's drop of 5.07% [1] Upcoming Earnings - The company's earnings report is scheduled for April 29, 2025, with an expected EPS of $2.52, representing a 42.37% increase year-over-year [2] - Revenue is anticipated to reach $4 billion, indicating a 7.39% rise compared to the same quarter last year [2] Annual Forecast - Zacks Consensus Estimates predict earnings of $14.84 per share and revenue of $17.96 billion for the year, reflecting increases of +25.76% and +8.93% respectively compared to the previous year [3] - Recent analyst estimate revisions suggest a positive outlook for the company's business trends [3] Valuation Metrics - Royal Caribbean is currently trading at a Forward P/E ratio of 13.98, which is lower than the industry average of 16.98 [6] - The company has a PEG ratio of 0.71, compared to the Leisure and Recreation Services industry's average PEG ratio of 1.17 [6] Industry Context - The Leisure and Recreation Services industry, part of the Consumer Discretionary sector, has a Zacks Industry Rank of 139, placing it in the bottom 44% of over 250 industries [7] - Strong individual industry groups, as measured by the Zacks Industry Rank, tend to outperform weaker groups by a factor of 2 to 1 [7]

Core Viewpoint - Analysts forecast that Royal Caribbean (RCL) will report quarterly earnings of $2.52 per share, reflecting a year-over-year increase of 42.4%, with anticipated revenues of $4 billion, a 7.4% increase compared to the previous year [1]. Earnings Projections - Over the past 30 days, the consensus EPS estimate has been adjusted downward by 0.1%, indicating a reassessment by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue and Key Metrics - Analysts predict 'Revenues- Onboard and other' will reach $1.26 billion, a 6.1% increase from the prior year [5]. - 'Revenues- Passenger ticket' is estimated to be $2.74 billion, reflecting a year-over-year change of 7.8% [5]. - The 'APCD (Available passenger cruise days)' is projected to be 12,680.56 Days, up from 12,285.83 Days in the same quarter last year [5]. Operational Metrics - The 'Occupancy Rate' is expected to reach 107.7%, compared to 107% in the same quarter of the previous year [6]. - The consensus estimate for 'Passenger Cruise Days' stands at 13,646.20 Days, compared to 13,149.71 Days a year ago [6]. - 'Net Cruise Costs Excluding Fuel per APCD' is projected to be $131.66, compared to $129.91 from the previous year [6]. Cost and Passenger Estimates - 'Net Cruise Costs per APCD' is expected to be $153.69, slightly down from $154.65 a year ago [7]. - Analysts estimate that 'Passengers Carried' will reach 2.23 million, up from 2.05 million in the same quarter last year [7]. Stock Performance - Over the past month, shares of Royal Caribbean have returned -5.6%, compared to the Zacks S&P 500 composite's -5.1% change, with RCL currently holding a Zacks Rank 3 (Hold) [8].

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Royal Caribbean, driven by higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected on April 29, 2025, with a consensus EPS estimate of $2.52, reflecting a +42.4% year-over-year change, and revenues projected at $4 billion, up 7.4% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.6% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading indicates a likely earnings beat, particularly when combined with a strong Zacks Rank [8][11]. Historical Performance - Royal Caribbean has consistently beaten consensus EPS estimates, achieving a surprise of +8.67% in the last reported quarter and beating estimates in the last four quarters [12][13]. Conclusion - Royal Caribbean is positioned as a strong candidate for an earnings beat, but investors should consider additional factors beyond earnings results when making investment decisions [14][16].

Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "Manufacture of Bakery Products Industry in South Africa 2025" report has been added to ResearchAndMarkets.com's offering. This report focuses on the manufacture of bakery products and includes information on wheat production, flour milling, bakery product production and sales, prices, and products including health and vegan products. There is information on notable players and corporate actions, and influencing factors such as economic conditions, input costs ...

Core Insights - The Cormorant at 55 South is positioned as the southernmost hotel on Earth, designed to enhance the guest experience before their journey to Antarctica, emphasizing local culture and natural beauty [1][2][13] - The hotel features thoughtfully designed rooms with expansive windows offering panoramic views of Patagonia, incorporating local artisan craftsmanship to deepen the connection to the region [4][3] Company Overview - Silversea is recognized as a leader in experiential luxury and expedition travel, offering immersive experiences across all seven continents and focusing on personalized service [13][14] - The company has pioneered luxury expedition cruising since 2008, being the first to offer luxury Antarctica expeditions, and continues to enhance its offerings with a strong emphasis on destination leadership [7][13] Unique Offerings - The Cormorant will provide a seamless journey to Antarctica through innovative six-day Fly Cruise expeditions, allowing guests to bypass the Drake Passage while maintaining an enriching experience [6][13] - Silversea's expedition team consists of up to 28 experts, providing guided walks and insightful lectures to enhance the educational aspect of the Antarctic experience [7][8] New Initiatives - Silversea has launched "Stories by Silversea," a content series aimed at authentic storytelling and educational resources, which will include updates on the development of The Cormorant [9][10]