Core Viewpoint - Royal Caribbean Cruises (RCL) has shown strong recovery from the pandemic, achieving its Trifecta Goals ahead of schedule and maintaining a positive outlook for future profitability, despite recent market corrections [1][2]. Financial Performance - RCL reported FQ2'24 revenues of $4.11 billion, reflecting a 10.4% quarter-over-quarter (QoQ) and 16.7% year-over-year (YoY) increase [2]. - Adjusted EBITDA for the same period was $1.55 billion, up 32.4% QoQ and YoY [2]. - Adjusted EPS reached $3.21, marking an 81.3% increase QoQ and 76.3% YoY [2]. - The company achieved a load factor of 108%, a 1-point increase QoQ and 4 points YoY, alongside expanding net yields of $269.61, which is a 9% increase QoQ and 13.2% YoY [2]. Growth Projections - RCL's management has provided an optimistic FQ3'24 adjusted EPS guidance of $4.95, representing a 54.2% increase QoQ and 28.5% YoY, while raising the FY2024 adjusted EPS guidance to $11.40 at midpoint, a 68.3% YoY increase [2]. - The consensus estimates indicate accelerated growth with a CAGR of +11.7% for revenue and +29.7% for adjusted EPS through FY2026 [8]. Valuation Metrics - RCL's current forward EV/EBITDA valuation is 10.10x and forward P/E valuation is 12.52x, which are considered reasonable compared to peers like Carnival Corporation (CCL) and Norwegian Cruise Line Holdings (NCLH) [9][10]. - The company has a net-debt-to-EBITDA ratio of 3.30x, significantly improved from 7.07x a year prior, indicating a healthier balance sheet [4]. Dividend Policy - RCL has reinstated a quarterly dividend of $0.40 per share, which, while lower than the 2019 level of $0.78, is welcomed by long-term shareholders as it allows for dividend reinvestment [5]. Market Context - The stock has experienced a pullback from recent highs, attributed to market sentiment shifts, despite strong earnings and dividend reinstatement [12]. - The recent correction is viewed as an opportunity for investors to establish positions or dollar cost average into RCL stock [9].

Washington, D.C. 20549 TABLE OF CONTENTS Page Item 1. Financial Statements The accompanying notes are an integral part of these consolidated financial statements 5 Note 1. General Note 3. Revenue | --- | --- | --- | --- | --- | --- | |--------------------------------|-------|-------|-------|-------------------------------|-------------------| | | | | | Six Months Ended \n2024 | June 30, \n2023 | | Passenger ticket revenues: | | | | | | | | | | | | | | United States | | | | 76 % | 76 % | | All other countrie ...

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Royal Caribbean Cruises Ltd. (NYSE:RCL) Q2 2024 Earnings Conference Call July 25, 2024 10:00 AM ET Company Participants Michael McCarthy - Vice President, Investor Relations Jason Liberty - Chief Executive Officer Naftali Holtz - Chief Financial Officer Michael Bayley - President & Chief Executive Officer, Royal Caribbean International Conference Call Participants Steven Wieczynski - Stifel Brandt Montour - Barclays Vince Ciepiel - Cleveland Research Matt Boss - JPMorgan Conor Cunningham - Melius Research R ...

About this content Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, an ...

Royal Caribbean (RCL) came out with quarterly earnings of $3.21 per share, beating the Zacks Consensus Estimate of $2.77 per share. This compares to earnings of $1.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 15.88%. A quarter ago, it was expected that this cruise operator would post earnings of $1.31 per share when it actually produced earnings of $1.77, delivering a surprise of 35.11%. Over the last four quarters, the ...

Exhibit 99.1 ROYAL CARIBBEAN GROUP REPORTS SECOND QUARTER RESULTS, INCREASES FULL YEAR GUIDANCE, AND REINSTATES DIVIDEND Strong demand and favorable timing of expenses drive second quarter above expectations Trifecta goals achieved 18 months early Adjusted EPS in 2024 is now expected to be $11.35 - $11.45 Declared a quarterly dividend of $0.40 per share MIAMI – July 25, 2024 – Royal Caribbean Group (NYSE: RCL) today reported second quarter Earnings per Share ("EPS") of $3.11 and Adjusted EPS of $3.21. These ...

Strong demand and favorable timing of expenses drive second quarter above expectations Adjusted EPS in 2024 is now expected to be $11.35 - $11.45 MIAMI, July 25, 2024 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported second quarter Earnings per Share ("EPS") of $3.11 and Adjusted EPS of $3.21. These results were better than the company's guidance due to stronger pricing on close-in demand and continued strength in onboard revenue, as well as favorable timing of expenses of approximately $0.15 ...

Royal Caribbean will step up with its second-quarter results on Thursday morning. There's a lot riding on the fresh financials, but the cruise line with a fleet of 68 ships across a couple of different banners has more than just momentum on its side. Demand has never been stronger for Royal Caribbean and its peers Carnival (CCL -1.52%) (CUK -1.88%) and Norwegian Cruise Line (NCLH -1.85%). The tailwinds are there. Let's size up Royal Caribbean's prospects heading into its quarterly update and see where the p ...

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