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
Capital expenditures
“approximately $5 billion”
Period
FY2025
Measure
Company-defined measure
Source
Prose
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
“Our strong balance sheet allows us the flexibility to continue to expand capital return to shareholders, invest in growth and innovation, and maintain investment grade balance sheet metrics in a range of macroeconomic environments." The company noted that as of March 31, 2025, the scheduled debt maturities for the remainder of 2025, 2026, 2027, and 2028 were $1.2 billion, $2.9 billion, $2.6 billion and $3.1 billion, respectively. 3 Capital Expenditures and Capacity Guidance Capital expenditures for the full year 2025 are expected to be approximately $5 billion, based on current foreign exchange rates, and are predominantly related to the new ship order book and land-based destination initiatives. Non-new ship related capital expenditures are expected to be $1.6 billion. Capacity changes for 2025 are expected to be 5.5% compared to 2024. Capacity changes for 2026, 2027, and 2028 are expected to be 6%, 5%, and 6%, respectively. These figures do not include potential ship sales or additions that the company may elect in the future. 4 Conference call scheduled The company has scheduled a conference call at 10 a.m. Eastern Time today. This call can be heard, either live or on a delayed basis, on the company's investor relations website at www.rclinvestor.com . Definitions Selected Operational and Financial Metrics Adjusted Earnings per Share ("Adjusted EPS") is a non-GAAP measure that represents Adjusted Net Income attributable to Royal Caribbean Cruises Ltd. (as defined below) divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis. Adjusted EBITDA is a non-GAAP measure that repre
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.