MIAMI — Shares of Royal Caribbean Cruises Ltd. slid Thursday after the cruise operator reported fourth-quarter results and an outlook that missed Wall Street expectations.
Royal Caribbean earned $109.8 million, or 49 cents per share, for the period ended Dec. 31. A year earlier the Miami company earned $7 million, or 3 cents per share. That period included $43 million in restructuring and impairment charges, compared with $2.4 million in the fourth quarter of 2014.
Excluding certain items, earnings in the most recent quarter were 32 cents per share. Analysts expected 41 cents per share, according to Zacks Investment Research.
Revenue dropped to $1.82 billion from $1.85 billion. Analysts expected higher revenue of $1.87 billion, according to Zacks.
The company's outlook also disappointed. For the current quarter that runs through March, it sees profit of 10 cents to 15 cents per share; analysts forecast 46 cents per share, according to FactSet.
For the year, it predicted profit of $4.65 to $4.85 per share. Analysts expected $4.93 per share.
In 2014, Royal Caribbean earned $764.1 million, or $3.43 per share. Its adjusted profit was $3.39 per share. Revenue climbed to $8.07 billion from $7.96 billion in 2013.
Shares of Royal Caribbean declined $6.22, or 7.6 percent, to $75.58 in morning trading.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCL at http://www.zacks.com/ap/RCL
Keywords: Royal Caribbean, Earnings Report