Royal Caribbean Group Expects Profitable For Full Year 2022 - Quick Facts

(RTTNews) - While reporting third-quarter results on Friday, Royal Caribbean Group (RCL) said, by the end of the current year, the Group expects that 50 out of 61 ships will have returned to service across its five brands, representing almost 100% of its core itineraries and approximately 80% of worldwide capacity. As of Friday, 40 ships from the company's five brands, or approximately 65% of its capacity, have resumed sailing. Royal Caribbean Group expects to be cash flow positive by spring and profitable for the full year 2022.

Royal Caribbean said its booking volumes have improved significantly since the slowdown this summer. The company received more bookings in the third quarter compared to the second quarter. Sailings for 2022 are booked within historical ranges and at higher prices than 2019, even when including future cruise credits, the company noted.

Third quarter adjusted net loss was $1.2 billion or $4.91 per share compared to adjusted loss of $1.2 billion or $5.62 per share in the prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report a loss per share of $4.40, for the quarter. Analysts' estimates typically exclude special items. GAAP net loss was $1.4 billion or $5.59 per share compared to a loss of $1.3 billion or $6.29 per share.

Passenger ticket revenues increased to $280.15 million from $3.20 million, last year. Total revenues were $456.96 million, for the quarter. Analysts on average had estimated $567.03 million in revenue.