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CHICAGO - Royal Caribbean Cruises Ltd. reports results for the third quarter on Tuesday morning. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: Royal Caribbean launched its newest ship, Oasis of the Seas, last week. The $1.5 billion boat — the world's largest and five times the size of the Titanic — will become the Miami company's newest flagship and can accommodate 6,300 passengers.
But Oasis, which will begin carrying passengers next month, still has space available on its maiden passenger voyage — a fact that concerns some watching the industry.
Royal Caribbean hasn't cut prices on Oasis tickets, which cost $1,299 to $4,829. But the company and its competitors have slashed prices on other voyages to entice travelers to book vacations during the recession.
During the quarter, Royal Caribbean said it was opening a new office in Brazil as part of its effort to increase its presence in the fast-growing South American cruise market.
Royal Caribbean's brands include the Royal Caribbean International cruise line along with Celebrity Cruises, Pullmantur, Azamara Cruises and CDF Croisieres de France.
BY THE NUMBERS: Analysts polled by Thomson Reuters predict a profit of $1 per share on revenue of $1.77 billion for the quarter. Last year, Royal Caribbean earned $411.9 million, or $1.92 per share, on revenue of $2.06 billion.
ANALYST TAKE: Stifel Nicolaus & Co. analyst Steven Wieczynski said he believes travelers, who'd been booking trips close to departure dates, may be extending their reservation window.
WHAT'S AHEAD: Analysts will look for an update on reservations for Oasis of the Seas. Meanwhile, they'll also be asking executives for an update on the impact of the swine flu on reservations.
STOCK PERFORMANCE: During the quarter, which began July 1, shares climbed about 78 percent to end the period at $24.08, near the high end of its 52-week range from $5.40 to $25.02.
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