Business Highlights

• Load factors in the third quarter were 96% overall, with Caribbean sailings reaching almost 105%.
• Total Revenue in the third quarter was USD 3.0 billion, Net Income was USD 33.0 million and Adjusted EBITDA was USD 742.3 million.
• Booking volumes in the third quarter accelerated versus the second quarter of 2022 and remained significantly higher than booking volumes received in the third quarter of 2019 for all future sailings.
• For 2023, all quarters are currently booked well within historical ranges at record pricing.
• During the third quarter, the company addressed USD 5.6 billion of its 2022 and 2023 debt maturities, resulting in USD 0.1 billion and USD 2.1 billion of maturities remaining in 2022 and 2023, respectively.
• Based on continued strength in consumer demand and typical load factor seasonality, the company expects fourth quarter load factors to be similar to third quarter overall, and to reach triple digits by year-end.
• For the fourth quarter of 2022, based on current currency exchange rates, fuel rates and interest rates, the company expects to generate Total Revenue of approximately USD 2.6 billion, Adjusted EBITDA of USD 350 - USD 400 million and Adjusted Loss per Share of (USD 1.30) – (USD 1.50).
• The Trifecta Program is designed to achieve three important financial goals by the end of 2025: increasing Adjusted EBITDA per APCD to triple digits, increasing Adjusted EPS to double digits, and achieving ROIC in the teens, while in parallel returning to an investment grade profile and reducing carbon intensity by double digits as compared to 2019.

"Last quarter's better than expected performance was a result of the continued robust demand environment and strong execution by our teams," said Jason Liberty, president and chief executive officer of Royal Caribbean Group. "The combination of our leading global brands, the best and most innovative fleet in the industry, our nimble global sourcing platform and the very best people have delivered a successful return of our business to full operations and positions us well to deliver record yields and adjusted EBITDA in 2023," added Liberty. "The Trifecta Program provides us the financial coordinates we are looking to achieve over the next three years. As we have demonstrated in the past, we expect the formula of moderate yield growth, strong cost discipline, and moderate growth of our fleet will deliver a strong financial profile."

Full report https://www.rclinvestor.com/press-releases/release/?id=1624