Royal Caribbean stock falls after wider-than-expected loss and revenue miss

Dow Jones2021-08-04

Shares of Royal Caribbean Group $(RCL)$ fell 2.3% in premarket trading Wednesday, putting them on track for a seventh straight loss, after the cruise operator reported a wider-than-expected second-quarter loss and revenue that fell well below expectations, as cash burn increased from the previous quarter as additional ships returned into operation.

Net losses narrowed to $1.35 billion, or $5.29 a share, from $1.64 billion, or $7.83 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was $5.06, wider than the FactSet loss consensus of $4.35.

Total revenue fell 71.0% to $50.91 million, missing the FactSet consensus of $152.4 million, as both passenger ticket and onboard revenue fell well below expectations.

The average monthly cash burn rate was $330 million, up from the sequential first quarter's $300 million.

New bookings received during the second quarter was about 50% more than the first quarter, with trends improving each month.

"After 16 months of being at a virtual standstill and another painful financial result this quarter, the flywheel is clearly picking up momentum," said Chief Executive Richard Fain.

The stock has dropped 11.3% over the past three months through Tuesday, while the S&P 500 has gained 6.2%.

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Comments

tek
2021-08-04
tek
There is plenty of opportunity for recovery. Go long term
- AhKeong:
  true
MajorJackpot
2021-08-04
MajorJackpot
Am not surprised
- AhKeong:
  very sad
- nancy88:
  Sad

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Go long term","listText":"There is plenty of opportunity for recovery. Go long term","text":"There is plenty of opportunity for recovery. Go long term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/890104688","repostId":2156759106,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5429271,"gmtCreate":1628119056268,"gmtModify":1663231941533,"authorId":3579764463709225,"author":{"id":3579764463709225,"idStr":"3579764463709225","authorId":3579764463709225,"name":"AhKeong","avatar":"https://community-static.tradeup.com/news/b20c0291da6c54ef8f3c421a4ed45c27","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":890104688,"type":1,"supId":0,"prevId":0,"content":"<u>true</u>","text":"<u>true</u>","html":"<u>true</u>"}],"langContent":"EN"},{"id":890380190,"gmtCreate":1628083251310,"gmtModify":1703500867870,"author":{"id":"3571016679890290","authorId":"3571016679890290","name":"MajorJackpot","avatar":"https://static.tigerbbs.com/8e3167dc36bc3dc440bfc86312381fbb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571016679890290","authorIdStr":"3571016679890290"},"htmlText":"Am not surprised","listText":"Am not surprised","text":"Am not surprised","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/890380190","repostId":2156759106,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5429273,"gmtCreate":1628119065663,"gmtModify":1663231941635,"authorId":3579764463709225,"author":{"id":3579764463709225,"idStr":"3579764463709225","authorId":3579764463709225,"name":"AhKeong","avatar":"https://community-static.tradeup.com/news/b20c0291da6c54ef8f3c421a4ed45c27","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":890380190,"type":1,"supId":5426091,"prevId":0,"content":"very <u>sad</u>","text":"very <u>sad</u>","html":"very <u>sad</u>"},{"id":5426091,"gmtCreate":1628085153631,"gmtModify":1663231926442,"authorId":3582057436194036,"author":{"id":3582057436194036,"idStr":"3582057436194036","authorId":3582057436194036,"name":"nancy88","avatar":"https://static.tigerbbs.com/f13797428448c51d0bc978c26e4c437c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":890380190,"type":1,"supId":0,"prevId":0,"content":"Sad","text":"Sad","html":"Sad"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":85,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2156759106"}