Royal Caribbean Cruises Q2 Earnings Beat Estimates

Royal Caribbean Cruises Ltd RCL reported second-quarter FY22 sales of $2.18 billion versus $50.9 million last year, beating the consensus of $2.11 billion.
Passenger ticket revenues rose to $1.4 billion from $22.8 million last year.
Cruise operating expense for the quarter was $1.69 billion compared to $424 million last year. The operating loss contracted to $(218.6) million.
The occupancy rate in Q2 was 82% versus 27.5% last year.
Royal Caribbean held $2.1 billion in cash and equivalents as of June 30, 2022.
Adjusted loss per share of $(2.08) beat the analyst consensus for a loss of $(2.20).
Adjusted EBITDA for the quarter was $109.6 million versus $(711.2) million last year.
Outlook: Royal Caribbean expects Q3 adjusted EPS of $0.05 - $0.25.
It expects Q3 sales of $2.9 billion - $3 billion versus the consensus of $3.03 billion.
Price Action: RCL shares are trading higher by 5.24% at $36.74 on the last check Thursday.
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