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RCCL forecasts 2012 eps of $1.80 to $2.10, booking trend consistent with guidance
- Details
- Category: Top Headlines
- Published on Friday, 20 April 2012 16:58
- Written by Kari Reinikainen
Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping company, has narrowed its 2012 earnings per share (eps) estimate to the range of $1.80 to $2.10 from $1.90 to $2.30 it forecast in February.
“The company reported that overall, booking trends and pricing have been consistent with prior guidance. Cumulative bookings since early February have been down mid single digits, although gradual improvement continues. Bookings from the United States have been running ahead of same time last year for the past four weeks,” RCCL said in a statement.
“As expected, pricing reductions within the range of the company's previous guidance have been implemented to address booking shortfalls on certain products through the end of the third quarter. Nevertheless, Constant-Currency booked APD's remain ahead of the same time last year in all quarters. Overall, pricing remains in line with or higher than the same time last year for all major itinerary groups with the exception of Europe,” the company said.
“Bookings for the fourth quarter of 2012 and for 2013 sailings remain strong, with both load factors and pricing running ahead of same time last year. In addition, the company has seen an increase in summer demand for its Pullmantur brand's tour product.”
"Despite the extraordinary disruptions to our booking patterns this year, thus far the recovery is consistent with our forecasts," said Brian J. Rice, executive vice president and chief financial officer. Rice continued, "The Caribbean and Alaska remain healthy and as expected, a wide range of outcomes still persist regarding Europe this summer. While the marketplace is still volatile and uncertain, we are narrowing our yield and EPS ranges to reflect our best estimates at this time."
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