Royal Caribbean Cruises Ltd. beat its own
and analysts' expectations and posted a $119.5 million profit --
still 37% lower than the year-ago period -- and shares of the
cruise line jumped 5% in morning trading April 21.
first-quarter 2006 earnings at $119.5 million, or 55 cents per
share, down from $189.6 million, or 64 cents per share, last
In a conference
call with analysts, RCCL executives blamed fuel costs, ship
refurbishments and the cost of doing business in Cozumel, Mexico,
which was hit by Hurricane Wilma in October 2005, as factors
affecting its bottom line.
increased 11.4% over 2005, driven mostly by fuel, the company said.
Fuel averaged $418 per metric ton this year, up from $284 per
metric ton in 2005. Net yields increased 1.9% over first-quarter
2005, buoyed by onboard revenues. Passenger ticket revenues were
down 3.5%, while onboard revenue was up 3%.
is outpacing Royal Caribbean International in growth, said Richard
Fain, RCCL chairman and CEO, during the conference call.
Celebrity president, said that getting the brand name out there and
doing a better job managing its itineraries had helped Celebrity's
reporter Johanna Jainchill, send e-mail to [email protected].