Loading...
Loading...
Shares of
Royal Caribbean Cruises Ltd were trading lower by more than 16 percent mid-Tuesday afternoon as investors were not pleased with the company's
fourth quarter results and outlook.
Royal Caribbean said that it earned $0.94 per share in the fourth quarter on revenue of $1.902 billion. Wall Street analysts were expecting the company to earn $0.92 per share on revenue of $1.96 billion.
Adjusted net income for the quarter rose to $206.8 million from $70 million a year ago due to stronger demand in the Caribbean and new China sailings in the winter. Net income for the full fiscal year 2015 rose to $1.07 billion from $755.7 a yer ago.
Royal Caribbean also issued full year fiscal 2016 guidance and expects to earn $5.90 to $6.10 per share - short of the $6.27 per share Wall Street analysts were already estimating. The company stated that the continued strength in the U.S. dollar resulted in a negative $0.14 impact to earnings per share in 2016. In addition, interest rates have recently increased which is causing a negative impact of $0.06 per share to earnings.
Finally, Royal Caribbean stated that there is a time period "lag" before any benefits from low fuel prices flows through to the business.Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
