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Royal Caribbean Q1 profit climbs 35.3% YOY

Royal Caribbean Cruises Ltd. said its normalized net income for the first quarter amounted to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS increased 36.4% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.3 million, an increase of 35.3% from $20.9 million in the year-earlier period.

The normalized profit margin increased to 1.6% from 1.1% in the year-earlier period.

Total revenue declined year over year to $1.82 billion from $1.89 billion, and total operating expenses declined from the prior-year period to $1.71 billion from $1.78 billion.

Reported net income rose 65.3% on an annual basis to $44.2 million, or 20 cents per share, from $26.7 million, or 12 cents per share.