What's Good for Royal Caribbean Is Good for Carnival, NCL, and Disney
You know what's better than delivering a blowout quarter? Raising the bar just three weeks later. Royal Caribbean Cruises (NYSE: RCL) had a strong fourth-quarter report earlier this month. On Wednesday afternoon it announced that things are going even better than its initially rosy outlook.
Royal Caribbean initiated guidance for 2024 on Feb. 1. Its forecast calling for adjusted earnings per share of $9.50 to $9.70 this year was well received. It was well ahead of the $9.19 a share that analysts were targeting at the time. It would also represent 40% to 43% improvement over 2023.
On Wednesday the outlook got even better. The country's second-largest cruise line now expects to earn between $9.90 and $10.10 a share on an adjusted basis, a 46% to 49% increase. Companies will often wait three months between "beat and raise" performances. Royal Caribbean is streamlining the process, and this is great news for fellow cruise ship operators Carnival Corp. (NYSE: CCL), Norwegian Cruise Line (NYSE: NCLH), and to a lesser extent Walt Disney (NYSE: DIS).
Source Fool.com
