The following is a summary of the Royal Caribbean Cruises Ltd. (RCL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Royal Caribbean reported Q1 adjusted earnings per share of $1.77, increasing 36% higher than prior guidance.

• The company experienced a net yield increase of 19.3% compared to Q1 2023.

• The business outlook for 2024 includes an expected 60% growth in adjusted earnings per share year-over-year.

• Net yields for the entirety of 2024 are predicted to be up 9% to 10%.

• Full year net cruise costs, excluding fuel, are forecasted to increase by approximately 5.5%.

• Fuel expenses for the year are expected to be around $1.18 billion.

Business Progress:

• Royal Caribbean experienced robust Q1 results, with solid booking and pricing leading to higher prices than in 2023.

• They plan on adding Utopian of the Seas and Silver Ray to their fleet, anticipating strong demand and pricing for these new ships.

• Future plans include expansion to new destinations, with the opening of the Royal Beach Club in Cozumel, Mexico in 2026, and Royal Beach Club Paradise Island in Nassau in 2023.

• The company is targeting net-zero emissions, making progress via double-digit carbon intensity reductions.

• Strong demand trends for 2024 and 2025 have been noted, with bookings also made for 2026.

• Plans for growth and investments in new locations and ships aim to compete with land-based vacation alternatives.

• Royal Caribbean has begun operations in China with a positive response in demand and pricing.

• The company seeks to improve its financial performance with a strategy focused on moderate capacity growth, investment in brands and destination points, and evaluation of potential market opportunities.

More details: Royal Caribbean IR

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