Royal Caribbean Group has posted third-quarter results that exceeded the company’s guidance, with total revenues reaching $4.9 billion.
Adjusted EBITDA, a measure of profit, reached $21 billion for the quarter, along with a load factor of 111%.
The performance was attributed to stronger pricing on “close-in”, or late demand, continued strength in revenue and lower costs.
The parent company of Celebrity Cruises and Silversea has upgraded its fourth-quarter and full-year profit guidance in the results.
For the four-quarter adjusted earnings per share is projected to reach $1.40- $1.45 including headwinds like Hurricane Milton.
Meanwhile, full-year earnings per share is expected to grow by 71% and be in the range of $11.57 to $11.62, driven by the strong third-quarter performance and “an increase in pricing expectations” in the final quarter of the year.
Royal Caribbean Group president and chief executive Jason Liberty said: “Our exceptional third quarter results and increased full-year expectations reflect the robust demand for our differentiated vacation experiences.
“We see elevated demand patterns continuing as we build the business for 2025, and although the yield comparable will be a high bar, our proven formula of moderate capacity growth, moderate yield growth and strong cost discipline is expected to continue to deliver strong financial results.
“While we are still very early in the planning process, we anticipate earnings per share in 2025 to start with a $14 handle.”