OSLO, July 24 Royal Caribbean Cruises reported second quarter earnings ahead of expectations on Thursday, raised its 2014 guidance, and unveiled plans to double its earnings per share (EPS) from 2014 to 2017.
"The Double-Double Program is designed to achieve two important goals by 2017: increasing the company's Return on Invested Capital (ROIC) to double digits and doubling 2014 EPS", RCCL said in its second quarter report.
The firm's adjusted second quarter EPS rose to $0.66 from $0.15 at the same period a year earlier and raised its full-year EPS guidance to a range of $3.40 to $3.50 from an earlier $3.25-$3.45.
"Bookings since the April earnings call have been up nicely and the company continues to be booked ahead of last year in both load factor and APD (average passenger days). Double-digit yield improvement on European and China sailings is helping offset a continued promotional environment in the Caribbean."
RCCL shares were up 8 percent after reporting its figures compared with a near flat Dow Jones Industrial Average. (Reporting By Ole Petter Skonnord; Editing by Balazs Koranyi)