Royal Caribbean beats by $0.04, reports revs in-line; guides Q3 EPS above consensus; guides FY17 EPS above consensus (113.08)
- Reports Q2 (Jun) earnings of $1.71 per share, $0.04 better than the Capital IQ Consensus of $1.67 and above prior guidance of $1.60-1.65; revenues rose 4.3% year/year to $2.20 bln vs the $2.19 bln Capital IQ Consensus.
- Co issues upside guidance for Q3, sees EPS of approx $3.45, excluding non-recurring items, vs. $3.30 Capital IQ Consensus Estimate.
- Co issues upside guidance for FY17, sees EPS of approx $7.35-7.45, excluding non-recurring items, vs. $7.25 Capital IQ Consensus Estimate and vs prior guidance of $7.00-7.20.
- "Our brands are executing beautifully, keeping the business in an exceptionally strong position...Strong close-in demand for cruise bolstered the quarter, and we see further uplift for the balance of the year, positioning us well for the Double-Double and beyond."
- Gross Yields were up 10.2% on a Constant-Currency basis. Net Yields on a Constant-Currency basis increased 11.5%, exceeding prior guidance due to strong close-in demand driving higher pricing and occupancy.