Royal Caribbean: 'Exceptionally Strong' Demand, Lifts Forecast by a Third

Key Points

• Royal Caribbean increased its earnings forecast for 2023 due to strong demand and growth in booking volumes and pricing.
• Key market trends include increased European bookings, strong North American demand, and positive sales for China voyages.
• Financial highlights: $3.5 billion in revenue, $459 million in net income, and $1.6 billion in debt reduction for the quarter.

Summary

Royal Caribbean International reported strong results and increased its earnings forecast for the year, citing exceptionally strong demand and significant growth in booking volumes and pricing. The company highlighted positive market trends, including accelerated booking volumes in Europe, strong demand from North America, and encouraging sales for upcoming China voyages. Financially, Royal Caribbean achieved $3.5 billion in total revenue and $459 million in net income for the quarter, reducing debt by $1.6 billion. The company plans to continue improving its balance sheet and will introduce three new ships in 2023, including the Icon of the Seas.