HighGravityDataRoyal Caribbean Cruises — Jan 28, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-25-000003
Showing in the filing
Forecasted fuel consumption
“424,000 metric tons”
Period
Q1 FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 58
Net Yields for FY2025
“expected to increase 2.5% to 4.5% in Constant Currency and 1.8% to 3.8% as-reported”
Net Yields vs. 2024 (Constant Currency) for FY2025
“2.5% to 4.5%”
Net Yields vs. 2024 (As-Reported) for FY2025
“1.8% to 3.8%”
NCC, excluding Fuel, per APCD for FY2025
“expected to be flat to up 1.0% in Constant Currency and (0.3%) to 0.7% as-reported”
Adjusted earnings growth for FY2025
“23%”
Net Yields for Q1 FY2025
“expected to increase 4.75% to 5.25% in Constant-Currency (3.9% to 4.4% as-reported) compared to 2024”
Net Yields vs. 2024 (Constant Currency) for Q1 FY2025
“4.75% to 5.25%”
Net Yields vs. 2024 (As-Reported) for Q1 FY2025
“3.9% to 4.4%”
NCC, excluding Fuel, per APCD for Q1 FY2025
“expected to increase 1.6% to 2.1% in Constant-Currency (1.3% to 1.8% as-reported) compared to 2024”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q1 FY2025
“1.6% to 2.1%”
Initial order for ships (Celebrity River Cru… for FY2027
“10 transformative ships”
Fuel expense included in for Q1 FY2025
“$277 million”
Forecasted fuel consumption for Q1 FY2025
“424,000 metric tons”
Percent hedged via swaps (fuel) for Q1 FY2025
“62%”
Forecasted consumption hedged via swaps for FY2025
“60%”
Forecasted consumption hedged via swaps for FY2026
“44%”
Forecasted consumption hedged via swaps for FY2027
“20%”
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
“$422”
Fuel Consumption (metric tons) for Q1 FY2025
“424,000”
Fuel Consumption (metric tons) for FY2025
“1,724,000”
Fuel Expenses for Q1 FY2025
“$277 million”
Fuel Expenses for FY2025
“$1,172 million”
Percent Hedged (fwd. consumption) for Q1 FY2025
“62.0%”
Percent Hedged (fwd. consumption) for FY2025
“60.0%”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for Q1 FY2025
“(0.9%) to (0.4%)”
Net Cruise Costs per APCD vs. 2024 (Constant… for Q1 FY2025
“(0.6%) to (0.1%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q1 FY2025
“1.3% to 1.8%”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“(0.3%) to 0.7%”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“0.0% to 1.0%”
APCDs for Q1 FY2025
“12.7 million”
APCDs for FY2025
“53.3 million”
Capacity change vs. 2024 for Q1 FY2025
“3.1%”
Capacity change vs. 2024 for FY2025
“5.4%”
Depreciation and amortization for Q1 FY2025
“$410 to $420 million”
Depreciation and amortization for FY2025
“$1,715 to $1,725 million”
Net Interest, excluding loss on extinguishme… for Q1 FY2025
“$230 to $240 million”
Net Interest, excluding loss on extinguishme… for FY2025
“$935 to $945 million”
Adjusted EPS for Q1 FY2025
“$2.43 to $2.53”
Adjusted EPS for FY2025
“$14.35 to $14.65”
1% Change in Net Yields for Q1 FY2025
“$31 million”
1% Change in Net Yields for FY2025
“$140 million”
1% Change in NCC excluding Fuel for Q1 FY2025
“$16 million”
1% Change in NCC excluding Fuel for FY2025
“$68 million”
1% Change in Currency for Q1 FY2025
“$5 million”
1% Change in Currency for FY2025
“$21 million”
10% Change in Fuel prices for Q1 FY2025
“$14 million”
10% Change in Fuel prices for FY2025
“$59 million”
100 basis pt. Change in SOFR for Q1 FY2025
“$1 million”
100 basis pt. Change in SOFR for FY2025
“$15 million”
Capital expenditures for FY2025
“approximately $5 billion”
Non-new ship related capital expenditures for FY2025
“$1.6 billion”
Capacity changes for FY2025
“5.4%”
Capacity change for FY2026
“7%”
Capacity changes for FY2026
“7%, 5%, and 6%, respectively”
Capacity change for FY2027
“5%”
Capacity change for FY2028
“6%”
Exhibit 99.1 · the passage around this item
… earlier in the release
The company does not forecast fuel prices and its fuel cost calculations are based on current at-the-pump prices, net of hedging impacts. Based on today's fuel prices, the company has included $277 million of fuel expense in its first quarter guidance at a forecasted consumption of 424,000 metric tons, which is 62% hedged via swaps. Forecasted consumption is 60%, 44%, and 20% hedged via swaps for 2025, 2026, and 2027, respectively. The annual average cost per metric ton of the hedge portfolio is approximately $487, $469, and $422 for 2025, 2026, and 2027, respectively. The company provided the following guidance for the first quarter and full year 2025: FUEL STATISTICS First Quarter 2025 Full Year 2025 Fuel Consumption (metric tons) 424,000 1,724,000 Fuel Expenses $277 million $1,172 million Percent Hedged (fwd. consumption) 62.0% 60.0% GUIDANCE As-Reported Constant Currency First Quarter 2025 Net Yields vs. 2024 3.9% to 4.4% 4.75% to 5.25% Net Cruise Costs per APCD vs. 2024 (0.9%) to (0.4%) (0.6%) to (0.1%) Net Cruise Costs per APCD ex. Fuel vs. 2024 1.3% to 1.8% 1.6% to 2.1% Full Year 2025 Net Yields vs. 2024 1.8% to 3.8% 2.5% to 4.5% Net Cruise Costs per APCD vs. 2024 (1.0%) to 0.0% (0.7%) to 0.3% Net Cruise Costs per APCD ex. Fuel vs. 2024 (0.3%) to 0.7% 0.0% to 1.0% GUIDANCE First Quarter 2025 Full Year 2025 APCDs 12.7 million 53.3 million Capacity change vs. 2024 3.1% 5.4% Depreciation and amortization $410 to $420 million $1,715 to $1,725 million Net Interest, excluding
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.