Core Insights - The company reported record total revenue of $2.5 billion for the second quarter of 2025, a 6% increase compared to the same period in 2024, and reaffirmed its full-year guidance for 2025 [6][7][9] - Strong consumer demand has led to bookings exceeding historical levels, with a notable increase in onboard spending [3][9] - The company is expanding its private island destination, Great Stirrup Cay, with the addition of a new waterpark and other amenities expected to enhance guest experience [3][6][34] Financial Performance - GAAP net income for the second quarter was $30 million, with earnings per share (EPS) of $0.07, reflecting a decline of $133.4 million year-over-year [6][7] - Adjusted EBITDA reached $694 million, an 18% increase from $588 million in 2024, exceeding guidance of $670 million [8][14] - Adjusted EPS was $0.51, in line with guidance, despite a negative impact of $0.08 from foreign exchange losses [8][14] Operational Metrics - Gross margin per Capacity Day increased by 11% on an as-reported basis and 12% on a Constant Currency basis [7] - Net Yield increased approximately 2.7% on an as-reported basis, surpassing the guidance of around 2.5% [7][14] - Occupancy for the second quarter was 103.9%, consistent with guidance, and the advance ticket sales balance reached a record high of $4 billion [9][10] Liquidity and Debt Management - The company successfully upsized its senior secured Revolving Loan Facility from $1.7 billion to approximately $2.5 billion, enhancing its liquidity position [6][12] - Total debt stood at $13.8 billion, with Net Leverage decreasing to 5.3x, down from 5.7x in the previous quarter [10][12] - Liquidity at quarter-end was $2.4 billion, including $184 million in cash and cash equivalents [11][12] Future Outlook - The company reiterated its full-year 2025 guidance, expecting a 2.5% increase in Net Yield and a 0.6% growth in Adjusted Net Cruise Cost excluding Fuel per Capacity Day [14][16] - Full-year Adjusted EBITDA is projected to be approximately $2.72 billion, reflecting an 11% increase compared to 2024 [14][16] - The company remains committed to achieving its 2026 financial targets, including reducing Net Leverage to the mid-4x range [12][14]

Core Insights - Oceania Cruises is enhancing its culinary reputation by appointing Food & Wine Best New Chefs alumni as godparents for its new ship, Oceania Allura, marking a first in the cruise industry [1][2] - The new ship, Oceania Allura, will offer an elevated onboard experience with exceptional service and a focus on high-quality cuisine [2][3] Group 1: Culinary Innovation - Oceania Allura will feature over 270 new recipes, a Culinary Center, and a Chef's Studio, alongside the return of the French restaurant Jacques and new Nikkei dishes in the pan-Asian venue Red Ginger [3] - The ship's christening ceremony is scheduled for November 13, 2025, in Miami, Florida [3] Group 2: Unique Experiences - Oceania Cruises is redefining the role of a ship's godparent and emphasizes its identity as a cruise line for food enthusiasts [4] - The first-ever Best New Chefs Cruise will take place from August 18 to 28, 2025, featuring special menus and cooking demonstrations [5] Group 3: Company Overview - Oceania Cruises is recognized as the leading culinary- and destination-focused cruise line, operating eight luxurious ships with a maximum capacity of 1,250 guests [6] - The cruise line offers itineraries that span over 600 ports in more than 100 countries, with voyages ranging from seven to over 200 days [6]