Royal Caribbean Cruises Ltd. said its fourth-quarter normalized net income came to 82 cents per share, compared with the S&P Capital IQ consensus estimate of $1.21 per share.
EPS increased 32.5% year over year from 62 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.9 million, a gain of 29.9% from $136.2 million in the year-earlier period.
The normalized profit margin climbed to 9.3% from 7.2% in the year-earlier period.
Total revenue came to $1.91 billion, compared with $1.90 billion in the prior-year period, and total operating expenses declined from the prior-year period to $1.61 billion from $1.65 billion.
Reported net income increased 25.9% year over year to $260.5 million, or $1.21 per share, from $206.8 million, or 94 cents per share.
For the year, the company's normalized net income totaled $3.85 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $6.07.
EPS rose from $3.08 in the prior year.
Normalized net income was $833.5 million, a rise from $680.1 million in the prior year.
Full-year total revenue increased on an annual basis to $8.50 billion from $8.30 billion, and total operating expenses totaled $7.01 billion, compared with $7.01 billion in the year-earlier period.
The company said reported net income grew on an annual basis to $1.28 billion, or $5.93 per share, in the full year, from $666.5 million, or $3.02 per share.
