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Royal Caribbean profit misses consensus by 35.8% in Q3

Royal Caribbean Cruises Ltd. said its third-quarter normalized net income amounted to $2.18 per share, compared with the S&P Capital IQ consensus estimate of $3.39 per share.

EPS increased 8.2% year over year from $2.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $470.5 million, an increase of 8.3% from $434.5 million in the year-earlier period.

The normalized profit margin rose to 18.3% from 16.9% in the year-earlier period.

Total revenue totaled $2.57 billion, compared with $2.56 billion in the prior-year period, and total operating expenses came to $1.83 billion, compared with $1.83 billion in the year-earlier period.

Reported net income rose 8.8% from the prior-year period to $753.2 million, or $3.49 per share, from $692.3 million, or $3.21 per share.