Royal Caribbean Cruises Surges After Strong Q2 Earnings Driven By High Pricing
Portfolio Pulse from Shivani Kumaresan
Royal Caribbean Cruises Ltd (NYSE:RCL) reported Q2 sales growth of 61.3% YoY to $3.52 billion, beating the consensus of $3.41 billion. The company's revenue exceeded its guidance due to higher pricing and shipboard revenue. Passenger ticket revenues rose 72% YoY to $2.4 billion. The company held $726.4 billion in cash and equivalents as of June 30, 2023. Adjusted EPS of $1.82 beat the analyst consensus of $1.55. The company raised its FY23 adjusted EPS guidance from $4.40-$4.80 to $6-$6.20 against the consensus of $4.77.
July 27, 2023 | 4:03 pm
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Royal Caribbean Cruises reported strong Q2 earnings, beating consensus estimates. The company also raised its FY23 adjusted EPS guidance, which could positively impact its stock price.
Royal Caribbean Cruises reported strong Q2 earnings, with sales growth of 61.3% YoY and adjusted EPS of $1.82, both beating consensus estimates. The company also raised its FY23 adjusted EPS guidance, indicating confidence in its future performance. These factors could lead to increased investor confidence and a potential rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100