Royal Caribbean Group Surpasses Expectations, Raises 2024 Outlook

Strong Performance Drives Profit Surge, Propelling Cruise Giant Towards Financial Milestones


Royal Caribbean Group has bolstered its forecast for the fiscal year 2024 following a notable upsurge in performance during the first quarter, buoyed by an unprecedented WAVE season. The conglomerate, presiding over three prominent cruise entities, has undergone a substantial reversal from its prior-year figures, transcending from an adjusted net loss of $59 million to an adjusted net profit of $478 million, predominantly attributable to robust onboard revenue streams and fortified pricing dynamics in response to heightened close-in demands.

CEO Jason Liberty underscored, “The enduring vitality of our premier brands and the extraordinary experiences they offer continues to underpin our robust performance, manifesting in first-quarter outperformance, an upward revision of full-year earnings projections, and a projected 60% surge in earnings year-on-year.”

“Bolstered by this positive momentum, we anticipate attaining all facets of our Trifecta financial objectives in 2024, empowering us to pivot towards a novel phase of expansion aimed at cultivating enduring shareholder value and capturing a greater slice of the swiftly expanding $1.9 trillion global vacation market,” added Liberty.

Emphasizing Liberty’s sentiments, the revised outlook for 2024, envisaging adjusted earnings per share (EPS) for the fiscal year ranging between $10.7 and $10.9, delineates the group’s anticipation of attaining its coveted “Trifecta” milestones, comprising triple-digit Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) per available passenger cruise days, a Return on Invested Capital (ROIC) in the teens, and double-digit EPS.

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