HighGravityDataRoyal Caribbean Cruises — Oct 29, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-24-000145
Showing in the filing
Net Yields
“expected to increase 5.1% to 5.6% in Constant Currency and 5.3% to 5.8% as-reported”
Period
Q4 FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 56
Adjusted EPS for FY2024
“$11.57 - $11.62”
Adjusted EPS for Q4 FY2024
“$1.40 - $1.45”
Earnings per share expectation for FY2025
“start with a $14 handle”
Net Yields for FY2024
“expected to increase 10.8% to 11.3% in Constant Currency (10.9% to 11.4% as-reported)”
Net Yields vs. 2023 (Constant Currency) for FY2024
“10.8% to 11.3%”
NCC, excluding Fuel, per APCD for FY2024
“expected to increase approximately 6.2% to 6.7% in Constant Currency and as-reported”
Adjusted EPS growth year-over-year for FY2024
“71%”
Net Yields for Q4 FY2024
“expected to increase 5.1% to 5.6% in Constant Currency and 5.3% to 5.8% as-reported”
Net Yields vs. 2023 (Constant Currency) for Q4 FY2024
“5.1% to 5.6%”
Net Yields vs. 2023 (As-Reported) for Q4 FY2024
“5.3% to 5.8%”
NCC, excluding Fuel, per APCD for Q4 FY2024
“expected to increase 11.6% to 12.1% in Constant Currency and 11.7% to 12.2% as-reported”
NCC, excluding Fuel, per APCD (Constant Curr… for Q4 FY2024
“11.6% to 12.1%”
Net Cruise Costs per APCD ex. Fuel vs. 2023 … for Q4 FY2024
“11.6% to 12.1%”
Fuel expense included in for Q4 FY2024
“$285 million”
Forecasted fuel consumption for Q4 FY2024
“433,000 metric tons”
Forecasted consumption hedged via swaps for FY2024
“61%”
Percent Hedged (fwd. consumption) for Q4 FY2024
“61%”
Percent hedged via swaps for Q4 FY2024
“61%”
Forecasted consumption hedged via swaps for FY2025
“60%”
Forecasted consumption hedged via swaps for FY2026
“44%”
Forecasted consumption hedged via swaps for FY2027
“10%”
Annual average cost per metric ton of hedge … for FY2024
“$518”
Annual average cost per metric ton of hedge … for FY2025
“$487”
Annual average cost per metric ton of hedge … for FY2026
“$469”
Annual average cost per metric ton of hedge … for FY2027
“$426”
Fuel Consumption (metric tons) for Q4 FY2024
“433,000”
Fuel Consumption (metric tons) for FY2024
“1,704,000”
Fuel Expenses for Q4 FY2024
“$285 million”
Fuel Expenses for FY2024
“$1,161 million”
Net Cruise Costs per APCD vs. 2023 (As-Repor… for Q4 FY2024
“7.8% to 8.3%”
Net Cruise Costs per APCD vs. 2023 (Constant… for Q4 FY2024
“7.7% to 8.2%”
NCC, excluding Fuel, per APCD (as-reported) for Q4 FY2024
“11.7% to 12.2%”
Net Cruise Costs per APCD ex. Fuel vs. 2023 … for Q4 FY2024
“11.7% to 12.2%”
Net Yields vs. 2023 (As-Reported) for FY2024
“10.9% to 11.4%”
Net Cruise Costs per APCD vs. 2023 (Constant… for FY2024
“4.0% to 4.5%”
Net Cruise Costs per APCD ex. Fuel vs. 2023 … for FY2024
“6.2% to 6.7%”
APCDs for Q4 FY2024
“12.8 million”
APCDs for FY2024
“50.6 million”
Capacity change vs. 2023 for Q4 FY2024
“6.6%”
Capacity change vs. 2023 for FY2024
“7.8%”
Capacity change for FY2024
“8%”
Depreciation and amortization for Q4 FY2024
“$410 to $420 million”
Depreciation and amortization for FY2024
“$1,590 to $1,600 million”
1% Change in Net Yields for Q4 FY2024
“$29 million”
1% Change in Net Yields for FY2024
“$120 million”
1% Change in NCC excluding Fuel for Q4 FY2024
“$16 million”
1% Change in NCC excluding Fuel for FY2024
“$60 million”
1% Change in Currency for Q4 FY2024
“$4 million”
10% Change in Fuel prices for Q4 FY2024
“$14 million”
100 basis pt. Change in SOFR for Q4 FY2024
“$1 million”
Capital expenditures for FY2024
“approximately $3.4 billion”
Non-new ship related capital expenditures for FY2024
“$0.7 billion”
Capacity changes for FY2024
“8%, 5%, 7%, and 5%, respectively”
Capacity change for FY2027
“5%”
Capacity change for FY2025
“5%”
Capacity change for FY2026
“7%”
Exhibit 99.1 · the passage around this item
… earlier in the release
"Our strong booked position is exactly where we want to be to further optimize our yield profile and deliver on our formula of success – moderate capacity growth, moderate yield growth and strong cost discipline – positioning us to continue to deliver margin expansion and strong financial returns." Fourth Quarter 2024 Net Yields are expected to increase 5.1% to 5.6% in Constant Currency and 5.3% to 5.8% as-reported as compared to the same period in the prior year. The expected growth in yield is driven by strong demand for Caribbean itineraries and continued strength in onboard revenue. Net Yield expectations in the fourth quarter include approximately 40bps of negative impact from Hurricane Milton. The expected yield growth in the fourth quarter is on top of 17.9% growth in Net Yields in Constant Currency in the fourth quarter of 2023 as compared to the same period in 2019. NCC, excluding Fuel, per APCD, is expected to increase 11.6% to 12.1% in Constant Currency and 11.7% to 12.2% as-reported as compared to the same period in the prior year. The year-over-year increase is predominately driven by an increase in drydock days, non-cash stock compensation, and shifting of costs from the third quarter. 4 Based on current fuel pricing, interest rates, currency exchange rates and the factors detailed above, the company expects fourth quarter Adjusted EPS to be in the range of $1.40 to $1.45. Fuel Expense Bunker pricing, net of hedging, for the third quarter was $684 per metric ton and consumption was 424,000 metric tons. The company does not forecast fuel prices and its fuel cost calculations are
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.