Thursday, February 22, 2024
Royal Caribbean Group has provided a comprehensive update on demand and revised its guidance for 2024.
The company remains highly optimistic about the demand and pricing dynamics anticipated for 2024. Since its previous update during the Q4 2023 earnings call, the WAVE booking season has surpassed initial projections, with the five most successful WAVE booking weeks in the company’s history occurring since the onset of this year. Bookings have notably outpaced last year’s figures, particularly in the latter half of the year. As of now, bookings for all four quarters of 2024 and across all key products exceed the same period last year in both rate and volume. Moreover, consumer spending on onboard purchases continues to outstrip previous years, indicating sustained quality and robust future demand.
Jason Liberty, President and CEO of Royal Caribbean, remarked, “Demand for our vacation experiences has far exceeded our earlier expectations since our last earnings call. Consequently, we are revising our 2024 guidance upwards due to a stronger revenue outlook, and we anticipate achieving all Trifecta goals for the year. The Trifecta represents a significant milestone as we remain steadfastly committed to providing unforgettable vacations and enduring memories for our guests while delivering exceptional long-term value to our shareholders.”
Buoyed by the robust WAVE season, the company is raising its 2024 Adjusted EPS guidance by $0.40 compared to the February estimate. The Adjusted EPS for the year is now projected to be between $9.90 and $10.10, driven by an anticipated increase in constant currency Net Yield growth of approximately 100 basis points compared to previous guidance. A portion of the full-year increase in Adjusted EPS, approximately $0.15, is attributed to an improved revenue outlook for the first quarter of 2024. With these developments, Royal Caribbean now foresees achieving all Trifecta goals for 2024.
Saturday, April 27, 2024
Saturday, April 27, 2024
Sunday, April 28, 2024
