--> RCL -4.86% Pre Open , CCL trading lower
Royal Caribbean beats by $0.02, misses on revs; guides Q1 EPS below consensus; guides FY16 EPS below consensus
- Reports Q4 (Dec) earnings of $0.94 per share, $0.02 better than the Capital IQ Consensus of $0.92; revenues rose 4.6% year/year to $1.9 bln vs the $1.95 bln Capital IQ Consensus. Constant-Currency NCC excluding fuel were down 4.7%, 70 basis points better than guidance, mainly due to timing.
- Co issues downside guidance for Q1, sees EPS of $0.30 vs. $0.46 Capital IQ Consensus Estimate, noting costs are more concentrated than usual in the first quarter.
- Constant-Currency Net Yields are expected to be up approximately 4.0% in the first quarter of 2016 (approximately 0.5% As-Reported). A strong Caribbean environment, combined with Quantum of the Seas' first winter product in China, is driving the majority of the improvement.
- Co issues downside guidance for FY16, sees EPS of $5.90-6.10 vs. $6.27 Capital IQ Consensus Estimate.
- Net Yields are expected to increase 2.0% to 4.0% on a Constant-Currency basis (in the range of flat to up 2% As-Reported).
- NCC excluding fuel are expected to be up 1% or less on a Constant-Currency basis (up 0.5% or less As-Reported).