Royal Caribbean beats by $0.20, beats on revs; guides Q2 EPS in-line; guides FY19 EPS below consensus (121.05)
- Reports Q1 (Mar) earnings of $1.31 per share, excluding non-recurring items, $0.20 better than the S&P Capital IQ Consensus of $1.11; revenues rose 20.3% year/year to $2.44 bln vs the $2.38 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for Q2, sees EPS of $2.45-2.50, excluding non-recurring items, vs. $2.48 S&P Capital IQ Consensus.
- Co issues downside guidance for FY19, sees EPS of $9.65-9.85, excluding non-recurring items, vs. $9.94 S&P Capital IQ Consensus. Note: This range includes the negative impact of $0.25/sh from the shipyard incident for Oasis of the Seas (two construction cranes collapsed on the stern of the ship causing extensive damage) and also includes the negative impact of approximately $0.25 per share from currency and fuel since the January guidance. Better Q1 results and an improved revenue outlook are offsetting the vast majority of these two negative impacts. Excluding these impacts, Adjusted EPS would have been in the range of $10.15 to $10.35 per share