Royal Caribbean Cruises Ltd. · NYSE:RCL
Royal Caribbean Cruises — Q1 2023 Earnings Presentation
13 slides from Royal Caribbean Cruises's earnings presentation, May 4, 2023
Slide 1: Q1 2023 Earnings Call
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Slide 2: Forward Looking Statements and Non-GAAP Financial Information
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL INFORMATION Certain statements in this presentation relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These s
Slide 3: Our Mission: Deliver the Best Vacation Experiences, Responsibly
OUR MISSION DELIVER THE BEST VACATION EXPERIENCES, RESPONSIBLY 3
Slide 4: Q1 Highlights
Q1 HIGHLIGHTS RECORD NET YIELDS ROBUST SPEND DEMAND ON OUR EXPERIENCES ACCELERATING +5.8% Net Yield in constant currency vs. ‘19 +11% Revenue per passenger cruise Record WAVE Period day in constant currency vs. 2019 Compelling Value Proposition Record Customer Deposits 102% Load Factor Overall IMPRO
Slide 5: Increasing Full Year 2023 Guidance
INCREASING FULL YEAR 2023 GUIDANCE RECORD NET YIELDS STRONG COST CONTROLS RECOVERING EARNINGS 6.75% - 7.75% 5.5% - 6.5% $4.40 - $4.80 Net Yield in constant NCCx per APCD Earnings Per Share currency vs. ‘19 in constant currency vs. ‘19 Includes 210 bps in structural and transitory costs Expect Record
Slide 6: We are executing against our Trifecta plan
We are executing against our Trifecta plan WHILE ALSO Returning to an investment grade credit profile Reducing carbon intensity by double digits vs. 2019 By 2025 6 Note: EBITDA and EPS goals will be calculated on an as adjusted basis.
Slide 7: Q1 Results
Q1 RESULTS Q1 Actuals Q1 Guidance Load Factor 102% ~100% Net Yield in CC 5.8% 1.0% - 2.0% NCCx in CC 5.8% ~8.5% Adjusted EPS ($0.23) ($0.65) - ($0.85) 7 Note: Please refer to our press release issued 5/4/23 for definitions of certain financial terms and reconciliations of non-GAAP measures to GAAP m
Slide 8: 2023 Full Year Guidance
2023 Full Year Guidance INCREASING FULL YEAR 2023 GUIDANCE ON A APCDs 47M STRONG REVENUE OUTLOOK Net Yields vs. 2019 (in Constant Currency) 6.75% - 7.75% NCCx vs. 2019 (in Constant Currency) 5.50% - 6.50% Fuel Approx. $1,128M Adjusted EBITDA Exceed prior 2019 record D&A $1,465M - $1,475M Net Interes
Slide 9: Q2 2023 Guidance
Q2 2023 GUIDANCE APCDs 11.7 M Net Yields vs. 2019 (in Constant Currency) 10.1% - 10.6% NCCx vs. 2019 (in Constant Currency) Approx. 8.9% Fuel Approx. $276M D&A $360M to $370M Net Interest Expense $305M - $315M Adjusted Earnings Per Share $1.50 - $1.60 Note: Net interest expense excludes losses on ex
Slide 10: Appendix
@ Royal Caribbean Group Appendix 10
Slide 11: Definitions
DEFINITIONS • Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. • Adjusted Net Income (Loss) is a non-GAAP measure that represents net income (lo
Slide 12: Definitions
DEFINITIONS • Constant Currency is a significant measure for our revenues and expenses, which are denominated in currencies other than the U.S. Dollar. Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected by changes in currency e
Slide 13: Definitions
DEFINITIONS • Carbon Intensity is our measurement of carbon dioxide emissions per gross tonne nautical mile (well-to-wake). • Gross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses. • Gross Margin Yield represent Gross Margin per A
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