Royal Caribbean Stock Falls On Q4 Miss; Expects Profitability In 2H'22

• Royal Caribbean Cruises Ltd (NYSE:RCL) reported fourth-quarter FY21 sales of $982.25 million, missing the analyst consensus of $1.04 billion.
• The passenger ticket revenue for the quarter amounted to $617.4 million. Total cruise operating expenses totaled $1.14 billion.
• The operating loss for the quarter was $(1.03) billion.
• The cruise operator registered a 59.3% occupancy for the quarter against 42.9% a year earlier.
• The company held $2.7 billion in cash and equivalents as of December 31, 2021.
• Adjusted EPS loss of $(4.78) missed the analyst consensus of $(3.92).
• Royal Caribbean Cruises expects to return the full fleet before the summer season of 2022.
• The company expects to be operating cash flow positive in late spring. It expects a net loss for the first half of 2022 and a return to profitability in the second half of 2022.
• "Omicron created short-term operational challenges that have unfortunately weighed on close-in bookings," said CEO Jason Liberty.
• Price Action: RCL shares are trading lower by 4.04% at $76.10 on the last check Friday.