Royal Caribbean Q3 2021 Earnings Report
Key Takeaways
Royal Caribbean Group reported a GAAP Net Loss of $(1.4) billion for Q3 2021. The company is aggressively restarting vessel operations, with two-thirds of the fleet operating. Bookings for 2022 are within historical ranges and at higher prices than 2019. The Group expects to be cash flow positive by spring and profitable for the full year 2022.
Over 500k guests sailed across Royal Caribbean's five brands since the restart of operations; over 1 million guests expected by year end.
By the end of this year, the Group anticipates that 50 out of 61 ships will have returned to service across its five brands, representing almost 100% of its core itineraries and approximately 80% of worldwide capacity.
Sailings for 2022 are booked within historical ranges and at higher prices than 2019, even when including future cruise credits (FCCs).
Guest satisfaction scores and onboard spending per passenger are both at the highest levels in the Company’s history.
Royal Caribbean
Royal Caribbean
Royal Caribbean Revenue by Segment
Forward Guidance
The Company anticipates positive cash flow for the Group by spring of 2022 and generating positive earnings for the full year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income