Cruise company, Royal Caribbean Cruises Ltd(RCL) reported a loss for its fourth quarter caused by a large impairment charge.
The Miami, FL based company reported a fourth quarter loss of $392.8 million, or $1.80 per share, compared to last years earnings of $36.56 million, or 17 cents per share. Analysts expected to see EPS of 6 cents.
Revenue for the quarter increased to $1.81 billion from $1.78 billion last year. Analysts expected revenue of $1.82 billion.
The net loss for the quarter was a result of a significant impairment charge of $413.9 million for its Pullmantur brand.
Looking ahead, the company expects to see FY2013 earnings in the range of $2.30 to $2.50 per share, which would miss analysts estimate of $2.67 per share.
Royal Caribbean shares were up 26 cents, or 0.71% during Monday morning trading. The stock has increased 21% in the past year.
The Bottom Line
Royal Caribbean Cruises Ltd(RCL) have a 1.30% yield, based on Monday morning’s price of $36.85.
Royal Caribbean Cruises Ltd(RCL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.