Royal Caribbean experiences 30 per cent profit boost in second quarter
Royal Caribbean Cruises has reported a GAAP net income of US$466.3 million and adjusted net income of US$482.2 million versus a net income of US$369.5 million for the same period in 2017, increases of 26 per cent and 30 per cent, respectively.
RBC attributes the results to better than expected revenue from the global brands, better performance from the joint ventures and lower than expected expenses which were driven by timing.
This is despite a negative impact from currency and fuel changes over the period.
Bunker pricing net of hedging for the second quarter was US$513.6 per tonne and 335.5 metric tonnes were consumed.
The company expects its full year adjusted EPS to be in the range of $8.70 to $8.90 per share.
Based on current fuel pricing, interest and currency exchange rates, RCB expects only a minor improvement over last year for the third quarter of 2018.