Our five-pillar Environmental, Social and Governance (ESG) framework anchors everything we do. The Company has scheduled a conference call at 10:00 a.m. Eastern Time today. (6)Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. The Group continues to make strides in its healthy return to . Ripoff Report on: Royal Caribbean - Royal caribbean cruise ships a total rip off Gross Cruise Costs per APCD improved 2.4% as reported and 1.9% in constant currency, compared to the first quarter 2022. Report. In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. The Group expects to return to Australia for the local summer season in the fourth quarter of 2022. Cision Distribution 888-776-0942 During the second quarter, the Group generated operating cash flow of approximately $0.5 billion. How are Onboard Credits & Future Cruise Credits Calculated? Find out more about how we use your information in our privacy policy and cookie policy. The Group expects a Net Loss in the second half of 2022 due to increases in fuel rates, interest rates and foreign exchange rates. But that's not the case here.Earnings ESP: Royal Caribbean has an Earnings ESP of 0.00%. First quarter load factor was 57% with month-over-month sequential improvements. 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. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS, (unaudited, in thousands, except per share data), Marketing, selling and administrative expenses, Impairment and credit losses (recoveries), Interest expense, net of interest capitalized, Trade and other receivables, net of allowances of $6,099 and $13,411 at March 31, 2022 and December 31, 2021, respectively, Other assets, net of allowances of $86,594 and $86,781 at March 31, 2022 and December 31, 2021, respectively, Current portion of operating lease liabilities, Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding), Common stock ($0.01 par value; 500,000,000 shares authorized; 282,973,716 and 282,703,246 shares issued, March 31, 2022 and December 31, 2021, respectively), Treasury stock (28,018,385 and 27,882,987 common shares at cost, March 31, 2022 and December 31, 2021, respectively), Total liabilities and shareholders' equity, Loss on derivative instruments not designated as hedges, Amortization of debt discounts and premiums. We continue to see a robust and accelerating demand environment for cruising and on-board spend. Approximately 27% of the customer deposit balance is related to FCCs compared to 32% in the prior quarter, a positive trend indicating new demand. Net Cruise Costs (NCC), excluding fuel, per APCD improved 16.5% as reported and 16.2% in constant currency, compared to the first quarter of 2022. "Our liquidity position remains strong, and we are generating positive operating cash flow and EBITDA. RCL Occupancy Rate. In March and April, booking volumes have been significantly higher than the same period in 2019. DefinitionsSelected Operational and Financial Metrics. Royal Caribbean canceled its Bahamas cruise for its ship . Where can I file a claim for my travel insurance? Across all markets, bookings in the first quarter of 2022 were higher than in the fourth quarter of 2021, and throughout the first quarter, bookings improved each week. 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. Oct 29, 2021, 10:00 a.m. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. The measure of capacity assumes double occupancy per cabin, which is why occupancy rates greater than 100% are possiblesometimes cabins are occupied by more than two passengers. MIAMI, Feb. 22, 2021 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today reported financial results for the fiscal year of 2020 and commented on . 2023 Royal Caribbean Group. Who do I contact? The company does not forecast fuel rates, and fuel cost calculations are based on current at-the-pump prices, net of hedging impacts. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This compensation may impact how and where listings appear. Shares of RCI Hospitality have improved 21% in the past year. All shipboard photo products and services can be purchased onboard at the Focus Photo Gallery. The Company reported Net Loss for the first quarter of 2022 of $(1.2) billion or $(4.58) per share compared to Net Loss of $(1.1) billion or $(4.66) per share in the prior year. Passenger Cruise DaysPassenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises. Revenue for the quarter also missed analyst estimates but was up more than 25-fold as it rebounded off of the previous year's pandemic-depressed lows. RICKs earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%. Best Credit Cards Best Cash Back Cards NCC, excluding fuel, per APCD is expected to significantly improve in the second half of the year compared to the first half of 2022 and be higher for the second half of 2022 by mid-single digits compared to the second half of 2019 all on a constant currency basis. The second half of 2022 is booked below historical ranges but at higher prices than 2019, with and without future cruise credits (FCCs). Travel Norwegian Cruise Line Beats Earnings Estimates and Signals Record 2023. Carnival has a deal to create a private island-like cruise port in Grand Bahama. The Group continues to make progress towards profitability with operating cash flow only slightly negative in March and turning positive in April. Third quarter results were better than expected and above . It is calculated by dividingpassenger cruise daysby the available passenger capacity, as measured byavailable passenger cruise days(APCD). As of February 25, 2022, it operated 61 ships. Second quarter results were meaningfully ahead of the company's expectations driven by accelerating and strong close-in demand, further improvement in onboard revenue and better cost performance. The purchase price for the vessel was $275 million, significantly below its estimated original cost. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. That's why we've assembled a wealth of information to assist you in. Operating cash flow and EBITDA were positive for the quarter. If you w *Please see all applicable Terms & Conditions for Promotions. The ship has been renamed Silver Endeavour and joined the Silversea fleet on July 21. Cash flow from ships in operation was positive in the first quarter. Cautionary Statement Concerning Forward-Looking StatementsCertain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The 59-acre fort is where . However, it marks a slight deterioration from the previous quarter's rate of 59.3%. Personal Finance Credit Cards. We would love to hear your feedback. The Group continues to make . The company expects to operate 11.6 million APCDs in the third quarter and generate approximately $2.9 billion - $3.0 billion in Total Revenue, based on current currency exchange rates. (11)Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas. ROYAL CARIBBEAN GROUP PARTNERS WITH TEXAS ARTISTS FOR NEW PORT OF GALVESTON TERMINAL. Operating cash flow significantly improved throughout the first quarter and is turning positive in April. I would like to speak to someone regarding the experience I had on my most recent cruise, who can I contact. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS, (unaudited, in thousands, except per share data), Marketing, selling and administrative expenses, Impairment and credit losses (recoveries), Interest expense, net of interest capitalized, (Loss) gain on cash flow derivative hedges, Trade and other receivables, net of allowances of $7,897 and $13,411 at June30, 2022 and December31, 2021, respectively, Other assets, net of allowances of $72,648 and $86,781 at June30, 2022 and December31, 2021, respectively, Current portion of operating lease liabilities, Preferred stock ($0.01 par value; 20,000,000 shares authorized; none outstanding), Common stock ($0.01 par value; 500,000,000 shares authorized; 283,076,357 and 282,703,246 shares issued, June30, 2022 and December31, 2021, respectively), Treasury stock (28,018,385 and 27,882,987 common shares at cost, June30, 2022 and December31, 2021, respectively), Total liabilities and shareholders' equity, Loss (gain) on derivative instruments not designated as hedges, Amortization of debt discounts and premiums. ) framework anchors everything we do the Group expects to return to with the Zacks Earnings.! 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