Royal Caribbean Group (NYSE:RCL), one of the world's largest cruise companies, reported Thursday first-quarter EPS of $3.48 and adjusted EPS of $3.60.

Adjusted EPS beat the $3.19 estimate, while sales of $4.452 billion missed the $4.460 billion estimate. Total revenue increased 11% year over year to $4.5 billion, driven by continued demand across its vacation portfolio.

Shares were trading higher following the results.

Profit Growth, Operating Metrics

Net income rose to $900 million from $700 million a year earlier, while adjusted net income reached $1.0 billion. Adjusted EBITDA was $1.7 billion.

Capacity increased 8%, and the company served 2.5 million guests, up 12%, with a load factor of 109%. Gross Margin Yields increased 6.9%, and Net Yields rose 3.6% as reported and 2% in constant currency.

Fuel remains a key cost driver, with first-quarter bunker pricing at $613 per metric ton ...