Royal Caribbean’s Q1 Earnings: Bookings Still at Record Levels

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Royal Caribbean Cruises Ltd.’s bookings remain at record levels, according to the cruise company’s just-released first quarter earnings report.

In terms of the full year 2017, the company’s booked position remains at a record level, Royal Caribbean said, better than last year on both a rate and a volume basis. Net yields are expected to increase 4.5 percent to 6 percent on a constant currency basis, while net cruise costs excluding fuel are expected to be flat.

For the first quarter of 2017, adjusted net income was $214.7 million, up from $124.0 million in 2016. Net yields were up 6 percent on a constant currency basis, while net cruise costs excluding fuel decreased 4.4 percent on a constant currency basis. Of interest to North American travel agents: the company said that strong close-in demand for the Caribbean drove the majority of the improved performance versus previous guidance for the quarter.

"The year started off with a very positive tone and the tone has only continued to please,” said Royal Caribbean Chairman and CEO Richard D. Fain in a written statement announcing the results. “We are looking forward to our fifth consecutive year of double-digit earnings growth."

The news follows Royal Caribbean's 2016 earnings report, in which it also reported that forward bookings were at record levels. At the time Royal Caribbean cited strong demand from North American consumers, as well as a positive outlook for Australia and a strong booked position in China.

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