Royal Caribbean beats by $0.11, reports revs in-line; guides FY15 EPS above consensus
Reports Q2 (Jun) earnings of $0.84 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $0.73; revenues rose 3.9% year/year to $2.06 bln vs the $2.06 bln consensus. Co issues upside guidance for FY15, sees EPS of $4.65-4.75 (Prior $4.50-4.60), excluding non-recurring items, vs. $4.62 Capital IQ Consensus Estimate.
- Net Yields are expected to increase in the range of 2.9% to 3.9% on a Constant-Currency basis (down 1.1% to 0.1% As-Reported).
- NCC excluding fuel are expected to be better than flat on a Constant-Currency basis (down approximately 2.5% As-Reported), including some increased investment in marketing activities.