"Our brands continue to fire on all cylinders, resulting in record yields and second quarter earnings significantly exceeding our expectations," said Jason Liberty, president and CEO, Royal Caribbean Group. "Demand for cruising and our brands is exceptionally strong and we have seen another step change in booking volumes and pricing, leading us to now expect double-digit net yield growth for the full year. We also expect to achieve record Adjusted EBITDA per APCD and Return on Invested Capital this year and are well on our way toward achieving our Trifecta goals."

Second quarter revenue significantly exceeded the company's guidance due to higher pricing and higher shipboard revenue across the company's key itineraries, including the Caribbean and Europe. Load factor for the second quarter was 105%.

Booking volumes in the second quarter remained significantly higher than the corresponding period in 2019 and at record pricing levels. Demand for 2023 sailings has significantly exceeded expectations and bookings for 2024 sailings are up significantly versus all prior years at record prices. Demand from the North American consumer has remained incredibly strong throughout the year, and booking volumes from European consumers who are booking European cruises this summer have accelerated.

The further increase in yield expectations for the year is the result of higher pricing and onboard revenue expectations for key itineraries, particularly in North America and Europe. Consumer spending onboard, as well as pre-cruise purchases, continue to significantly exceed 2019 levels driven by greater participation at higher prices.

As of 30 June 2023, the Group's customer deposit balance was at a record-high USD 5.7 billion.  

Full report https://www.rclinvestor.com/press-releases/release/?id=1663