Royal Caribbean Cruises Ltd. reported unaudited consolidated earnings results for the fourth quarter ended December 31, 2014. For the quarter, total Revenues were $1,817.826 million against $1,854.158 million a year ago. Operating income was $119.344 million against $74.969 million a year ago. Net income was $109.768 million or $0.49 per diluted share against $7.018 million or $0.03 per diluted share a year ago. Adjusted net income was $70.048 million or $0.32 per diluted share against $755.729 million or $0.23 per diluted share a year ago.

For the year, total Revenues were $8,073.855 million against $7,959.894 million a year ago. Operating income was $941.859 million against $798.148 million a year ago. Net income was $764.146 million or $3.43 per diluted share against $473.692 million or $2.14 per diluted share a year ago. Net cash provided by operating activities was $1,743.759 million against $1,412.068 million a year ago. Purchases of property and equipment was $1,811.398 million against $763.777 million a year ago. Adjusted net income was $755.729 million or $3.39 per diluted share against $539.224 million or $2.44 per diluted share a year ago.

For the first quarter of 2014, the company expects depreciation and amortization expenses to be $195 to $205 million, interest expense, to be net $60 to $70 million, and adjusted EPS to be $0.10 to $0.15.

For 2015, net yields are expected to increase 2.5% to 4.5% on a Constant-Currency basis. Adjusted EPS for 2015 is expected to be in the range of $4.65 to $4.85 per share, slightly higher than previous guidance of $4.55. Approximately $0.05 of the improvement is due to the combined effect of lower fuel costs offset by negative foreign exchange movements. The remainder of the difference is due to improved operational elements. Depreciation and amortization expenses to be $840 to $850 million, and interest expense, to be net $260 to $270 million. Based upon current ship orders, projected capital expenditures for full year 2015 to be $1.6 billion.

For 2016, 2017, 2018 and 2019, projected capital expenditures are $2.3 billion, $0.4 billion, $2.2 billion and $0.4 billion, respectively.