Royal Caribbean Q4 Profit Soars; Issues Q1 Adj. EPS Outlook

(RTTNews) - Royal Caribbean Cruises Ltd. (RCL) reported that its net income for the fourth quarter 2014 was $109.8 million or $0.49 per share, up from $7.0 million or $0.03 per share in 2013.

Adjusted net income for the latest fourth quarter rose to $70.0 million, or $0.32 per share, from $49.9 million, or $0.23 per share, in the comparable quarter last year. On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the fourth-quarter declined to $1.82 billion from $1.85 billion in the previous year. Wall Street analysts had a consensus revenue estimate of $1.88 billion.

Net Yields on a Constant-Currency basis increased 2.4% during the quarter. Constant-Currency NCC excluding fuel decreased 2.3% better than the midpoint of guidance.

Looking ahead to the first quarter, the company expects adjusted earnings per share to be in the range of $0.10 to $0.15 per share. Analysts project fourth-quarter earnings of $0.46 per share for the first-quarter.

Constant-Currency Net Yields are expected to be down 1.5% to 2.0% in the first quarter of 2015 (down approximately 5% As-Reported).

For full year 2015,  the company currently estimates adjusted earnings to be in the range of $4.65 to $4.85 per share. Analysts currently expect earnings of $4.86 per share for fiscal 2015.

The company expects a Net Yield increase in the range of 2.5% to 4.5% on a Constant-Currency basis and in the range of down 0.5% to up 1.5% on an As-Reported basis for the full year.