Royal Caribbean Cruises Ltd. shares retreated after the company reported a larger-than-expected loss and missed revenue projections. The company also warned of a “modest impact” on some bookings from the delta variant of COVID-19.

Its adjusted per share loss was US$5.06 in the second quarter, the company said Wednesday in a statement. That compared to an expected loss of US$4.36, according to the Bloomberg Consensus estimate. It had US$50.9 million in revenue, less than the expected US$146.4 million.

The cruise industry had been hoping for better days ahead, after the first paying cruise left a U.S. port at the end of June. Until then, the industry had essentially been on hold since the COVID-19 pandemic began in earnest in March 2020.

“While it’s too early to make any definitive conclusions of the impact of the delta variant on bookings, the company has seen a modest impact on closer-in bookings,” the company said in the statement. “However, 2022 continues to remain strong; in particular the spring and summer months are performing well.”

The shares fell to 1.8 per cent to US$73.15 at 9:41 a.m. in New York, poised to extend their losing streak to a seventh day.

In a separate announcement, the company said late Tuesday that is would have its entire fleet sailing again by spring 2022. Chief Executive Officer Richard Fain had previously said that he expected most of the fleet to operating by the end of this year.