Royal Caribbean Group Posts Adj. Loss In Q3

(RTTNews) - Royal Caribbean Group (RCL) reported an adjusted net loss of $1.2 billion or $5.62 per share for the third quarter of 2020 compared to adjusted net income of $896.8 million or $4.27 per share, prior year. The company noted that the loss for the quarter is the result of the impact of the COVID-19 pandemic on the business. On average, 12 analysts polled by Thomson Reuters expected the company to report a loss per share of $5.12, for the quarter. Analysts' estimates typically exclude special items.

On March 13, 2020 , the company voluntarily suspended its global cruise operation. The company resumed limited cruise operations outside of the U.S. in July with three vessels from TUI cruises and two vessels from Hapag Lloyd, and in September, for a limited period, with one Silversea ship. The company expects that Quantum of the Seas, a ship from the Royal Caribbean International fleet, will resume cruising from Singapore in December 2020.

As of September 30, 2020, the company had liquidity of approximately $3.7 billion, including $3.0 billion in cash and cash equivalents and a $0.7 billion commitment from the 364-day facility.