Royal Caribbean Cruises Ltd. (RCCL) set a dual goal of boosting its return on invested capital to double digits and doubling its 2014 earnings per share over the next three years.
The “Double-Double” program was announced in its second-quarter earnings report, which showed net profit soared to $137.7 million, up from $24.7 million a year earlier.
In publicly announcing its financial targets, RCCL said “articulating clear and specific goals helps guide internal decision-making as well as better informing investors of the path of the business.”
Net yields for the quarter were up 2.6%, at the top of RCCL’s guidance, driven by strong booking trends for Europe and China sailings. There was continued softness in the Caribbean.
RCCL said that because of the strong quarter, it was boosting 2014 projected profit by $22 million to a range of $755 million to $777 million.
New Carnival Corp. president and CEO Arnold Donald will be paid an annual salary of $1 million for the next three years under a new compensation agreement reached this week.
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