ROYAL Caribbean Group has increased its full year guidance, with strong demand driving its second quarter result above expectations.
The company has achieved its trifecta of goals of triple-digit adjusted EBITDA, ROIC in the teens, and double-digit adjusted EPS, all 18 months early.
These results were better than guidance due to stronger pricing on close-in demand, and continued strength in onboard revenue, as well as favorable timing of expenses.
Other highlights saw load factors of 108%, gross margin yields up 24.2%, net yields up 13.3%, and total revenues were US$4.1 billion.
Net Income was also up US$854 million, while adjusted net income was US$882 million, and adjusted EBITDA was US$1.6 billion.
“We met our financial targets 18 months earlier than expected, have our balance sheet in a strong position, reinstated our dividend, and…we are just getting started,” President & Chief Executive Officer Jason Liberty said.
“Exceptional demand for our vacation experiences has accelerated our performance by generating significant yield growth over the past several years.
“As we look forward, we remain intensely focused on driving strong shareholder returns by delivering a lifetime of vacations and taking a greater share of the rapidly growing US$1.9 trillion global vacation market.
“This is underpinned by our formula for future success – disciplined growth and moderate yield growth while controlling our costs.”
