Load factors increased to almost 90% in June, with Caribbean itineraries averaging over 100%. Adjusted Net (Loss) IncomeAdjusted Net (Loss) Income represents Net (Loss) Income excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. The Net Loss and Adjusted Net Loss for the quarter are primarily the result of the impact of the COVID-19 pandemic on the business. This press release includes certain adjusted financial measures defined as non-GAAP financial measures under Securities and Exchange Commission rules, which we believe provide useful information to investors as a supplement to our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles, or U.S. GAAP. Image source: The Motley Fool. Where can I file a claim for my travel insurance? Balcony cabins: 1,796 (65%). Gross Cruise Costs per APCD improved 2.4% as reported and 1.9% in constant currency, compared to the first quarter 2022. Royal Caribbean's Requirements. Royal Caribbean Group First Cruise Company in US to Sail Using Renewable Diesel Fuel. Royal Caribbean canceled its Bahamas cruise for its ship . We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This call can be heard, either live or on a delayed basis, on the Company's Investor Relations website at www.rclinvestor.com. Who can I speak with regarding my art purchase? Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities . Based on the strong and close-in nature of bookings, the company expects load factors will continue to improve each quarter and expects fleetwide load factors to exceed 100% by year end. Adjusted Net LossAdjusted Net Loss represents net loss excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. Selected Operational and Financial Metrics. The second half of 2022 is booked below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). Click to get this free reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportCrocs, Inc. (CROX) : Free Stock Analysis ReportCedar Fair, L.P. (FUN) : Free Stock Analysis ReportRCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Where can I fill out a survey regarding my experience on my most recent sailing? (9)Primarily represents asset impairments in 2021 and a credit loss recovery for a note receivable in which credit losses were previously recorded in 2022. As of June 30, 2022, the Group's liquidity position was $3.3 billion, which includes cash and cash equivalents, undrawn revolving credit facility capacity, and a $700 million commitment for a 364-day term loan facility. Source: Predictions based on analysts' consensus fromVisible Alpha. Countryside, coastal or cityscape: how to value a view? The Group expects a return to net profit for the second half of 2022. Please make sure that you have the Personal Property Report and that you filled out included in the e-mail as you will need it as part of your claim. How are Onboard Credits & Future Cruise Credits Calculated? Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected by changes in currency exchange rates. If purchased pre-cruiseor onboard, photo selections must be made onboard at the Focus Photo Gallery. All personal injury cases are complex, but those involving cruise lines and maritime laws can involve even more intricate laws and statutes. While the Group remains optimistic to capture long-term growth opportunities in that market, ships planned for China have been temporarily redeployed to meet the demand in other markets. This company has a Environmental, Social and Governance Report available to view on our partner site, ResponsibilityReports.com, Royal Caribbean Group (NYSE: RCL) is a cruise vacation company comprised of three award-winning global brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. Carnival has a deal to create a private island-like cruise port in Grand Bahama. MIAMI, Nov. 3, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted E. For the third quarter of 2022 and based on current currency exchange rates, fuel rates and interest rates, the company expects to generate approximately. Thank you for your patience! ET by Tomi Kilgore. Request Information. Royal Caribbean Group today reported third quarter 2022 Earnings per Share of $0.13 and Adjusted Earnings per Share of $0.26. The Group continues to make progress towards profitability with operating cash flow only slightly negative in March and turning positive in April. This represents an increase of about $600 million over the previous quarter despite the significant quarter-over-quarter increase in revenue recognition. The Group continues to make strides in its healthy return to operations in a strong demand environment. . For the periods presented, these items included (i) impairment and credit losses (recoveries); (ii) restructuring charges and other initiative expenses; (iii) the amortization of the Silversea Cruises intangible assets resulting from the Silversea Cruises acquisition in 2018; (iv) the amortization of non-cash debt discount on our convertible notes; (v) the estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization in 2020; (vi) loss on the extinguishment of debt; (vii) equity investment asset impairments; (viii) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; and (ix) the net gain recognized in the first quarter of 2021 in relation to the sale of the Azamara brand. RICKs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%. ROYAL CARIBBEAN CRUISES LTD's latest 10-Q financial filing, filed on 2022-11-03. . Royal Caribbean Cruises Ltd. price-eps-surprise | Royal Caribbean Cruises Ltd. Quote. Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246, Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and, Purchase of property and equipment included in accounts payable and accrued, Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving, https://www.prnewswire.com/news-releases/royal-caribbean-group-reports-first-quarter-2022-results-and-provides-a-business-update-301540761.html. We act ethically and with integrity so we all can thrive. This feature will help you take charge of your RCL career by outlining your potential options. While load factors for sailings in the second half of 2022 are currently slightly below historical levels, consumers are booking their cruises closer to sailing and the Group is capitalizing on that healthy close-in demand to improve load factors. "Our near-term focus is to return to full operations and profitability as we execute on our recovery and build for long term success.". In measuring our ability to control costs in a manner that positively impacts net income, we believe changes in Net Cruise Costs and Net Cruise Costs excluding Fuel to be the most relevant indicators of our performance. Where can I get financial information if I booked through a Travel Advisor? We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. The Osceola County Sheriff's Office has been a CFA-accredited law enforcement agency since 1999.. kickass proxy unblock. Cruising remains a very attractive value proposition for vacationers, and today we have an opportunity to further close the value gap to other land-based vacation offerings," added Liberty. Increased penetration of pre-cruise purchases is likely to have driven RCLs onboard revenue performance in the to-be-reported quarter.However, China, which is closed to international travelers, is likely to have hurt its performance. "Our liquidity position remains strong as we execute on our return to service, and our operations generate positive cash flow again," said Naftali Holtz, chief financial officer, Royal Caribbean Group. Best Credit Cards Best Cash Back Cards As used in this Quarterly Report on Form 10-Q, the terms "Royal Caribbean," "Royal Caribbean Group," the "Company," "we," "our" and . As of March 31, 2022, the company's customer deposit balance was $3.6 billion. Royal Caribbean (RCL) came out with a quarterly loss of $2.08 per share versus the Zacks Consensus Estimate of a loss of $2.23. "Our liquidity position remains strong, and we are generating positive operating cash flow and EBITDA. Changes in operating assets and liabilities: Increase in trade and other receivables, net, Increase in prepaid expenses and other assets, Decrease in accrued expenses and other liabilities, Cash received on settlement of derivative financial instruments, Cash paid on settlement of derivative financial instruments, Investments in and loans to unconsolidated affiliates, Cash received on loans to unconsolidated affiliates, Proceeds from the sale of property and equipment and other assets, Net cash provided by financing activities, Net (decrease) increase in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Notes receivable issued upon sale of property and equipment and other assets, Purchase of property and equipment included in accounts payable and accrued expenses and other liabilities. A clear case of assault and battery per Canada and Seattle codes. We can assist you in every other area but if you wish to g Any luggage claims can be made by contacting us atroyalguestrelations@rccl.com. I have 3 cruises cancelled due to COVID. Represents the amortization of non-cash debt discount on our convertible notes. Today, you can download 7 Best Stocks for the Next 30 Days. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and has had and will continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; our ability to accurately estimate our monthly cash burn rate during the suspension of our operations; concerns over safety, health and security of guests and crew; any protocols we adopt across our fleet relating to COVID-19, such as those recommended by the Healthy Sail Panel, may be costly and less effective than we expect in reducing the risk of infection and spread of COVID-19 on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States. 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