Royal Caribbean Cruises Ltd. said its normalized net income for the first quarter amounted to 62 cents per share, compared with the S&P Capital IQ consensus estimate of 93 cents per share.
EPS increased 79.0% year over year from 35 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $134.2 million, an increase of 77.3% from $75.7 million in the prior-year period.
The normalized profit margin increased to 6.7% from 3.9% in the year-earlier period.
Total revenue increased on an annual basis to $2.01 billion from $1.92 billion, and total operating expenses declined from the prior-year period to $1.73 billion from $1.75 billion.
Reported net income grew 113.2% on an annual basis to $213.7 million, or 99 cents per share, from $100.2 million, or 46 cents per share.