second currency commentary My quarter focus financial on financial and results, full Harry, XXXX our very good you, today position. year XXXX our Thank guidance our net same my strong everyone. fuel the improved noted, will increasingly solid a constant PCD yield are and morning, and cost basis are in XXXX. on cruise net XXXX and comparisons on otherwise ex to Unless period commentary adjusted
highlighted X.X% the with with In -- which exceeded points. were Starting board, are increasing line, guidance our XX. we our of and outpacing by quarter results targets XXX top the impressive second with across begin yield net basis for X.X%, Slide our results, guidance Let's exceeding the short, quarter. on
capacity to Red in which line Caribbean revenue canceled sailings than European, were and the contributed factors majority this stronger-than-anticipated finally, quarter, quarter; the Alaskan the redeployment for better close-in of onboard deployed included where our top demand and Sea sailings, sailing the exceptionally initial growth our of expectations. robust and strong is demand; Several
costs. Adjusted expenses PCD will cost primarily now fuel into to third came of quarter. the certain net $XXX, that timing guidance cruise ex below at due Looking in the fall at
related and higher days quarter included costs As expected, 'XX. our as cost to unit from compared $X approximately dry-dock this
inflation of initiatives, line ex demonstrating once cost impact dry-docks, the results. These strong impacts our of has combined the fully the cost flat organization. been robust top entire savings Excluding yielded to fuel with offset adjusted disciplined ability net across have our PCD the would growth our year-over-year initiatives with again cruise
-- on million, EPS increase of guidance in to exceeding year-over-year same resulting a year. guidance $X.XX came EBITDA and increased Adjusted our at XX% surpassing our $XXX XX%. in $X.XX, Adjusted compared approximately million, $XXX of was the last quarter of
our strong metrics surpass growth, Overall, the top And we extremely quarter ongoing on guidance we Strong pleased second our cost reduction are initiatives, momentum our for XX. us ahead. as quarter. with earnings This result, guidance performance. raising line our with combined are us look positions a we well as Slide as highlighted to enabled
guidance we and Since into strength for maintained this of that third be on full this our dry-docks, are adjusted we basis expected my later the I X.X%. XXX go in ex cost remarks. in excluding growth yield flat our -- more for guidance of bit the net increase fuel points year the have announce guidance, the our raised to will to a business. impact time initial PCD thrilled performance year. We have our reflecting we expected February, to to detail net is cruise is year, And which, strong
have our in of underscoring the resulting increase the of increased and top These for operational market May. and to strong flowing Course of impressive demand. is line line, execution million EPS $X.X XXXX result growth, our towards our results adjusted to $XXX as our mark in strong achieving from we we the guidance sub-inflationary billion, in an adjusted unit all progress a billion bottom EBITDA As guidance approximately $X.XX by outlined this Charting significant cost targets XX%,
North net on detailed and year quarter anticipate more the outlined yield, Slide implied for of in growth Over strong for are This we a our to Europe several in almost look quarter. by the XX% of fourth third from we quarter our American in quarter. expectations the yield regions metrics where sailings at are Alaska, net X.X% on well as Moving factors. and XX. with guidance third driven is third customers. growth We Starting experiencing demand the our as full the
emphasize from -- onboard revenue prebooking favorable strong allowed by our QX, combined us latest for Continued quarter. -- X% the rerouting. Unlike guidance is was X.X%. net want to These in increase healthy trends off amenities. pricing. that implies to disruptions that to momentum We a have guidance a the an unaffected X% growth impressive and I trends, our ongoing net healthy full East XXXX and builds fourth and year Middle of underpinned XX% of growth QX yield our this by and for with This quarter onboard cancellations
the also East Our in which rerouted comes luxury face quarter XX% weighted QX was disproportionately XXXX of Middle in our growth sailings comprised deployment headwinds of our brands. the fourth and to from
cost entire our unchanged, our the organization. a of to to turning adjusted diligent remains Now attention true where guidance net the cruise to efforts testament
last few to like increase I will year. that a changes to as many and net quarter, -- by third from X.X% points numbers quarterly highlight in period we would about there get I are the $XXX yearly those into the For anticipate adjusted moving in same cost $XXX fuel later my the to ex cruise remarks. parts PCD
in recognized approximately of year, of last First, QX $X nonrecurring we benefits.
Second, mind timing keep of in expenses. the
As certain basis, between expenses QX I expected -- QX mentioned unit We and were primarily than Consequently, better our a costs up. QX differences costs on due timing are unit year-over-year to of QX. previously,
to issue. prior However, in this And year, guidance. we unit dry-docks, still the our a impact timing remain of line is merely cost excluding our the and with expect flat essentially full for
I will compensation. And variable third, mention
the disproportionate seasonality this We in earnings. quarter, business are third our with compensation due has higher our to consistent variable a initial of outperforming forecasts. the recognizing And weighting
a of savings $X.XX, of $XXX net in adjusted over which the EBITDA quarter is result initiatives, increase expected -- third XX% same adjusted to growth driving a million, As yield cost and period our be strong is XXXX. EPS and
for we yield increased QX this highlight Moving Slide I'd and net expected was to since our that latter results At expected the points uplift our improvement in year. full million our strength yield guidance, now, year revisit XXXX. and our seeing of the half. we the half May the Giving majority in increase $XX basis second the gross adjusted we of confidence on or XXX XX. Day, of detail the in like million to of guidance to second of margin the half an indicating the net are Investor had about $XX more of that materialize
in half additional margin guidance solid in are This gross points an Today, second or full XXX once achieve raising growth XXXX. with our we X.X% year half. the the basis again positions $XX improvement to back of million of adjusted us net yield in
XX. Moving into initiatives. a to I -- want to Slide dive We margin our enhancement bit deeper
reducing these at across the As margins of of organization. these -- Investor pillar boosting stated entire And fruits Day, algorithm we a XXXX. our our to fruits continue we and cost efforts key during is see the
increase come. to due excluding adjusted And PCD the metric continue but quarter. essentially we variable result, flat the have should will offsetting the company's transformation of as the in year-over-year, I costs is cost During the that ex due decline net and performance. and the keep this I able will flat, the the been the unit this am that And inflation be as quarter, organization second fully easy in first of a increased and be to fourth we as tireless entire in earlier, to our This work confident well our as mentioned team. cruise quarters, fuel will years speed momentum is strong not compensation able timing, our dry-dock. to third result
our adjusted approach expansion margin algorithm Investor Turning during key growth cost straightforward, conjunction rigorous see are as recent our and of to results returns capacity Day. the margin of to XX. net The That and can clearly substantial elements earnings management yields improved controlled expansion. disciplined drive outlined impact Slide We EPS growth. with our in in
approach our sheet to leverage, XXXX adjusted our not allocation midterm. XX%. this growth our this toward short allows our to balance capital disciplined enhances another in digits net This debt with way, the Moreover, our reduces but of year adjusted prioritize EPS the milestone target paired hit which, repayment strengthens to and only is on ROIC, when double strategy important us also target by
trailing with our During we ending the of the substantial This a close to target approaching out approximately milestone margin EBITDA as year, a adjusted improvement XX%. of XX-month second XX%. quarter, marking we basis we The XXXX. historical a improved we operational toward XX.X%, of margins XXX from strive our of -- anticipate progress is as margin points significant
on I now shift not since debt has -- changed XX, profile let's which balance and QX. our to sheet maturity significantly Slide
notes expected, we converted million due repay our partially our our as XXXX shares. XXXX in maturity X% and/or net and notes refinance quarter to are is which December. exchangeable to $XXX the and by maturity During And its expecting
XX. Turning Slide on over leverage to
we feat months As by reducing net We ending approximately ended schedule, the X.Xx. leverage Achieving X since quarter Xx we that small no proud X.Xx our we leverage are X.Xx. is achieved goal ahead the at XXXX of in turns at -- our and leverage
As you sheet, journey. this journey are deleveraging the know, a milestone we the balance multiyear mid-Xs to and are that derisk targeting quarter's another on in significant results
time. surpassed want I full closing, this emphasize year key to us that strategy has where earlier. This our we exceptional for enabled outlined has all at guidance discussed an Day Investor that quarter metrics. to In a raise guidance testament we momentum This across been and is the our I the to all third
year strategy about and remain We confident of going are the in the excited our second half forward.
for to remarks. turn it Harry that, closing I'll With back
