From 24/7 Wall St. · David Moadel · · 1m
Royal Caribbean Earnings Beat Lifts Stock
Royal Caribbean stock surges 8% after beating earnings guidance and raising full-year outlook.
In brief
Royal Caribbean stock surges 8% after beating earnings guidance and raising full-year outlook. Royal Caribbean shares rose 8% as third-quarter earnings exceeded guidance and management raised full-year earnings outlook to $17.85-$17.95 per share. Originally reported by 24/7 Wall St..
Royal Caribbean Earnings Beat
Royal Caribbean's third-quarter results beat its own guidance with adjusted earnings per share of $6.57 ahead of the $6.38 consensus estimate.
“Our third quarter results reflect continued strong consumer demand for our vacation experiences and the accelerated momentum across our industry leading brands”
Full-Year Outlook Raised
Management raised Royal Caribbean's full-year adjusted earnings per share outlook to a range of $17.85 to $17.95.
Stock Price Surge
Royal Caribbean stock climbed 8% to $302.74 after beating earnings guidance and raising full-year outlook.
Norwegian Cruise Line
Norwegian Cruise Line Holdings stock rose 3% to $15.71, trailing Royal Caribbean by a wide margin.
Carnival Stock Move
Carnival stock climbed 2% to $27.36, the smallest advance among the three cruise operators.
Fuel Cost Impact
Higher-than-expected fuel costs and currency exchange rates offset Royal Caribbean's stronger third-quarter results.
What to remember
Royal Caribbean shares rose 8% as third-quarter earnings exceeded guidance and management raised full-year earnings outlook to $17.85-$17.95 per share.
