Royal Caribbean Cruises Ltd. · NYSE:RCL
Royal Caribbean Cruises — Q1 2024 Earnings Presentation
9 slides from Royal Caribbean Cruises's earnings presentation, Apr 25, 2024
Slide 1: Earnings Call
Hideaway BeachSM at Perfect Day at CocoCay 2 24 EARNINGS CALL 1
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
The Hideaway, Icon of the SeasSM OUR MISSION DELIVER THE BEST VACATION EXPERIENCES RESPONSIBLY 3
Slide 4: Q1 2024 Highlights
Q1 2024 HIGHLIGHTS NET YIELDS ROBUST SPEND ACCELERATING DEMAND ON OUR EXPERIENCES +19.3% Net Yield Growth in constant currency vs. ‘23 +14% Adjusted Gross Margin per Record breaking booking volumes passenger cruise day in constant currency vs. ’23 107% Load Factor Compelling Value Proposition Record
Slide 5: Increasing 2024 Guidance
INCREASING 2024 GUIDANCE CAPACITY GROWTH STRONG STRONG COST CONTROLS YIELD GROWTH ~5.5% 8.1% Capacity vs. ‘2023 growth 9.0% to 10.0% (includes ~310 bps impact from increased drydocks and Hideaway Beach) 2 new ships expected to be delivered in Net Yield growth NCCx per APCD growth 2024: Utopia of the
Slide 6: Our Proven Formula Delivers
OUR PROVEN FORMULA DELIVERS + + Moderate Capacity Growth Moderate Yield Growth Strong Cost Control 6
Slide 7: 2024 Full Year Guidance
2024 Full Year Guidance APCDs 50.7M Net Yields vs. 2023 (in Constant Currency) 9.00% to 10.00% NCCx vs. 2023 (in Constant Currency) Approximately 5.5% Fuel Approximately $1,183M D&A $1,600M - $1,610M Net Interest Expense $1,140M - $1,150M Adjusted Earnings Per Share $10.70 - $10.90 7 Thrill Waterpar
Slide 8: Expecting 60% Year over Year Adj. EPS Growth
Expecting 60% Year over Year Adj. EPS Growth Revised 2024 Guidance (February 21, 2024) $9.90 - $10.10 Fuel Rates and Foreign Exchange Rate ($0.10) $1.25bn unsecured note refinancing (March 7, 2024) $0.17 Q1 2024 business outperformance (excl. timing of costs) $0.21 Better Rest of Year 2024 Outlook $
Slide 9: Q2 2024 Guidance
Q2 2024 GUIDANCE APCDs 12.2M Net Yields vs. 2023 (in Constant Currency) 10.2% to 10.7% NCCx vs. 2023 (in Constant Currency) 7.4% to 7.9% Fuel Approximately $291M D&A $390 - $400M Net Interest Expense $270M - $280M Adjusted Earnings Per Share $2.65 to $2.75 Antarctica—Silver EndeavourSM 9
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