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Royal Caribbean profit misses consensus by 28.7% in Q2

Royal Caribbean Cruises Ltd. said its second-quarter normalized net income was 52 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS increased 35.9% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.6 million, a gain of 34.4% from $86.0 million in the prior-year period.

The normalized profit margin rose to 5.6% from 4.3% in the year-earlier period.

Total revenue climbed year over year to $2.06 billion from $1.98 billion, and total operating expenses came to $1.80 billion, compared with $1.78 billion in the prior-year period.

Reported net income grew 34.0% year over year to $185.6 million, or 84 cents per share, from $138.5 million, or 62 cents per share.