Royal Caribbean Reports '11 EPS $2.77 vs $2.76 Est; Q4 EPS $0.17 vs $0.15 Est; Guides 2012 EPS $1.90-$2.30 vs $2.94 Est
Royal Caribbean Cruises Ltd. (NYSE: RCL) today reported fourth quarter and full year 2011 results and provided an initial outlook for 2012.
"First and foremost, our thoughts are with the guests, crew members and families who have been affected by the tragedy in Italy," said Richard D. Fain, chairman and chief executive officer. "Like so many who have spent their working lives in this industry, a tragedy like this just breaks our hearts." Fain continued, "All of us in the industry, who are so devoted to providing safe and exceptional vacations to millions of people around the world, are devastated and humbled when something like this happens. Ironically, this tragedy is so noteworthy partially because it is so rare. Cruising has an extraordinary record of safe operation but this tragic incident is a reminder that there is no such thing as perfect safety, only perfect dedication to safety. And I can assure you that we strive toward this perfect dedication to safety each and every day. Stunned by the tragedy, we and the rest of the industry are determined to learn whatever lessons we can and rededicate ourselves to continue providing the best and safest vacations for our guests."
Against this background, the company reported on its results for 2011 and provided its preliminary outlook for 2012.
Taking into account the high degree of uncertainty surrounding current booking patterns, current fuel pricing and currency exchange rates, and the factors detailed above, the company anticipates 2012 earnings to be in the range of $1.90 to $2.30 per share.
