HighGravityDataRoyal Caribbean Cruises — Apr 29, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000884887-25-000093
Showing in the filing
Net Cruise Costs per APCD ex. Fuel vs. 2024 (Constant Currency)
“(0.1%) to 0.9%”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 60
Adjusted EPS for FY2025
“$14.55 to $15.55”
Net Yields (Full Year 2025 Outlook) for FY2025
“2.5% to 4.5% as-reported (2.6% to 4.6% in Constant Currency)”
Net Yields vs. 2024 (As-Reported) for FY2025
“2.5% to 4.5%”
Net Yields vs. 2024 (Constant Currency) for FY2025
“2.6% to 4.6%”
NCC, excluding Fuel, per APCD (Full Year 202… for FY2025
“0.1% to 1.1% as-reported and (0.1%) to 0.9% in Constant Currency”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“(0.1%) to 0.9%”
Capacity change for FY2028
“6%”
Capacity change for FY2026
“6%”
Capacity change for Q2 FY2025
“6%”
Net Yields (Second Quarter 2025) for Q2 FY2025
“4.4% to 4.9% as-reported and 4.3% to 4.8% in Constant Currency”
Net Yields vs. 2024 (As-Reported) for Q2 FY2025
“4.4% to 4.9%”
Net Yields vs. 2024 (Constant Currency) for Q2 FY2025
“4.3% to 4.8%”
NCC, excluding Fuel, per APCD (Second Quarte… for Q2 FY2025
“4.1% to 4.6% as-reported and 3.7% to 4.2% in Constant Currency”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q2 FY2025
“3.7% to 4.2%”
Fuel consumption (second quarter) for Q2 FY2025
“428,000 metric tons”
Forecasted consumption hedged via swaps for FY2025
“59%”
Percent Hedged (fwd. consumption) for Q2 FY2025
“59%”
Percent hedged via swaps (second quarter) for Q2 FY2025
“59%”
Forecasted consumption hedged via swaps for FY2026
“55%”
Forecasted consumption hedged via swaps for FY2027
“45%”
Forecasted consumption hedged via swaps for FY2028
“15%”
Annual average cost per metric ton of hedge … for FY2025
“approximately $487”
Annual average cost per metric ton of hedge … for FY2026
“$476”
Annual average cost per metric ton of hedge … for FY2027
“$393”
Annual average cost per metric ton of hedge … for FY2028
“$426”
Fuel Consumption (metric tons) for FY2025
“1,726,000”
Fuel expense (second quarter) for Q2 FY2025
“$286 million”
Fuel Expenses for FY2025
“$1,140 million”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for Q2 FY2025
“2.8% to 3.3%”
Net Cruise Costs per APCD vs. 2024 (Constant… for Q2 FY2025
“2.4% to 2.9%”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for Q2 FY2025
“4.1% to 4.6%”
Net Cruise Costs per APCD vs. 2024 (As-Repor… for FY2025
“(1.0%) to 0.0%”
Net Cruise Costs per APCD vs. 2024 (Constant… for FY2025
“(1.2%) to (0.2%)”
Net Cruise Costs per APCD ex. Fuel vs. 2024 … for FY2025
“0.1% to 1.1%”
APCDs for Q2 FY2025
“12.9 million”
APCDs for FY2025
“53.3 million”
Capacity change vs. 2024 for Q2 FY2025
“5.8%”
Capacity change vs. 2024 for FY2025
“5.5%”
Depreciation and amortization for Q2 FY2025
“$415 to $425 million”
Depreciation and amortization for FY2025
“$1,710 to $1,720 million”
Net Interest, excluding loss on extinguishme… for Q2 FY2025
“$220 to $230 million”
Net Interest, excluding loss on extinguishme… for FY2025
“$940 to $950 million”
Adjusted EPS (Second Quarter 2025) for Q2 FY2025
“$4.00 to $4.10”
1% Change in Net Yields for Q2 FY2025
“$35 million”
1% Change in Net Yields for FY2025
“$141 million”
1% Change in NCC excluding Fuel for Q2 FY2025
“$16 million”
1% Change in NCC excluding Fuel for FY2025
“$68 million”
1% Change in Currency for Q2 FY2025
“$5 million”
1% Change in Currency for FY2025
“$16 million”
10% Change in Fuel prices for Q2 FY2025
“$14 million”
10% Change in Fuel prices for FY2025
“$42 million”
100 basis pt. Change in SOFR for Q2 FY2025
“$1 million”
100 basis pt. Change in SOFR for FY2025
“$11 million”
Capital expenditures for FY2025
“approximately $5 billion”
Non-new ship related capital expenditures for FY2025
“$1.6 billion”
Capacity changes for FY2025
“5.5%”
Capacity change for FY2027
“5%”
Capacity changes for FY2026
“6%, 5%, and 6%, respectively”
Adjusted EPS compound annual growth rate (Pe… for the long term
“20%”
ROIC (Perfecta Program) for FY2027
“17% or higher”
Exhibit 99.1 · the passage around this item
… earlier in the release
• Total revenues were $4.0 billion, Net Income was $0.7 billion or $2.70 per share, Adjusted Net Income was $0.7 billion or $2.71 per share, and Adjusted EBITDA was $1.4 billion. Full Year 2025 Outlook: • Net Yields are expected to increase 2.5% to 4.5% as-reported (2.6% to 4.6% in Constant Currency). • NCC, excluding Fuel, per APCD are expected to be 0.1% to 1.1% as-reported and (0.1%) to 0.9% in Constant Currency. • Adjusted EPS is expected to grow approximately 28% year-over-year and be in the range of $14.55 to $15.55. First Quarter 2025 Results Net Income for the first quarter of 2025 was $0.7 billion or $2.70 per share compared to Net Income of $0.4 billion or $1.35 per share for the same period in the prior year. Adjusted Net Income was $0.7 billion or $2.71 per share for the first quarter of 2025 compared to Adjusted Net Income of $0.5 billion or $1.77 per share for the same period in the prior year. The company also reported total revenues of $4.0 billion and Adjusted EBITDA of $1.4 billion. Capacity for the first quarter was up 3% year over year and the company delivered memorable vacations to 2.2 million guests, a 9% increase year over year. Gross Margin Yields increased 13.9% as-reported, and Net Yields increased 4.7% as-reported (5.6% in Constant Currency), when compared to the first quarter of 2024. Load factor for the quarter was 109%. Net Yield growth exceeded the company's guidance mainly due to higher pricing across key products driven by strong close-in demand. Gross Cruise Costs per APCD decreased 1.1% as-reported, compared to the first quarter of 202
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.