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Royal Caribbean profit misses consensus by 33.3% in Q3

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Royal Caribbean profit misses consensus by 33.3% in Q3

Royal Caribbean Cruises Ltd. said its third-quarter normalized net income amounted to $1.81 per share, compared with the S&P Capital IQ consensus estimate of $2.71 per share.

EPS climbed 32.1% year over year from $1.37.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $400.0 million, a gain of 30.5% from $306.6 million in the prior-year period.

The normalized profit margin rose to 15.9% from 12.8% in the year-earlier period.

Total revenue rose 5.6% year over year to $2.52 billion from $2.39 billion, and total operating expenses came to $1.85 billion, compared with $1.86 billion in the prior-year period.

Reported net income decreased 53.5% year over year to $227.8 million, or $1.03 per share, from $490.3 million, or $2.19 per share.