Royal Caribbean Group provides business update and reports on first quarter 2021
The Company reported revenues of USD 42 million, US GAAP Net Loss for the first quarter of 2021 of USD (1.1) billion, compared to USD 2 billion in revenues. US GAAP Net Loss of USD (1.4) billion in the prior year.
The Company also reported Adjusted Net Loss of USD (1.1) billion or USD (4.44) per share for the first quarter of 2021 compared to Adjusted Net Loss of USD (310.4) million or USD (1.48) per share in the prior year. The Net Loss and Adjusted Net Loss for the quarter are the result of the impact of the COVID-19 pandemic on the business.
The average monthly cash burn rate for the first quarter of 2021 was approximately USD 300 million. This is slightly higher than the previously announced range driven mainly by fleetwide restart expenses and timing.
Full report here https://www.rclinvestor.com/press-releases/release/?id=1529
Apr 30 2021
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