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RCCL third quarter net income jumps to $810.4 million

Royal Caribbean Cruises, Ltd (RCCL), the world’s second largest cruise shipping group, has reported a rise in net income to $810.4 million in the third quarter compared to $752.8 million in the same period last year.

“Adjusted net income was $836.3 million or $3.98 per share, beating the mid-point of the guidance by $0.05 per share.  Last year, both US GAAP and Adjusted Net Income were $752.8 million or $3.49 per share,” RCCL said in a statement. Revenues increased to $2.80 billion from $2.57 billion and operating income to $799.3 million from $752.8 million.

In the January-September period, net income rose to $1.49 billion from $1.34 billion on revenues of $7.16 billion, up from $6.77 billion year on. Opewraying income rose to $1.53 billion from $1.44 billion.

In the third quarter, gross yields rose 1.9% and net yields by 2.6% in constant currency, exceeding prior guidance due to strong close-in demand for our core products and better onboard revenues.

Gross cruise costs per available passenger capacity day (APCD) increased 0.2% in constant currency.  Net cruise costs (NCC) excluding Fuel per APCD were down 0.1% in constant currency, slightly higher than guidance, driven by timing.

Bunker pricing net of hedging for the third quarter was $538.57 per metric ton and consumption was 338,700 metric ton, the company said in a statement.

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