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Royal Caribbean (RCL) Raises 2024 Guidance on Robust Demand
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Royal Caribbean Cruises Ltd. (RCL - Free Report) announced a notable increase in its 2024 guidance, citing an unexpectedly robust demand for its vacation experiences. Following the news, the company’s shares gained 6.2% in the after-hour trading session on Feb 21.
The company's latest update reflects an optimistic outlook fueled by an exceptional performance in the WAVE booking season, surpassing previous records in its history. With bookings for all four quarters of 2024 and across key product lines exceeding last year's figures in both rate and volume, RCL is poised for a promising year ahead.
Jason Liberty, president and CEO of Royal Caribbean, expressed his enthusiasm regarding the surge in demand, emphasizing the company's commitment to delivering exceptional vacation experiences while driving long-term shareholder value. The increase in adjusted EPS guidance by $0.40 compared with February projections reflects its confidence in revenue outlook, driven by a significant uptick in constant currency net yield growth.
The revised adjusted EPS for 2024 is now expected to be between $9.90 and $10.10, with a notable portion of the increase attributed to an improved revenue outlook for the first quarter. This upward revision underscores Royal Caribbean's strong momentum and ability to capitalize on evolving market dynamics.
The achievement of all Trifecta goals in 2024 marks a significant milestone for RCL, signaling its commitment to delivering exceptional value to both guests and shareholders alike. With consumer spending for onboard purchases continuing to surpass prior years, driven by increased participation at higher prices, Royal Caribbean demonstrates resilience and adaptability in navigating the evolving landscape of the travel industry.
In conclusion, Royal Caribbean’s upward revision in guidance for 2024 reflects its optimistic outlook fueled by robust demand and a strong performance in the WAVE booking season. With an enhanced revenue outlook and a focus on achieving key strategic goals, RCL remains well-positioned to deliver value and memorable experiences to its guests while driving sustainable long-term growth.
In the past year, shares of the Zacks Rank #1 (Strong Buy) company have surged 60.2% compared with the industry’s growth of 2.5%.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 17.7% and 18%, respectively, from the year-ago levels.
H World Group Limited (HTHT - Free Report) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 94.5%, on average. The stock has lost 28.5% in the past year.
The Zacks Consensus Estimate for HTHT’s 2024 sales and EPS indicates an improvement of 7.2% and 7.1%, respectively, from the year-ago levels.
Playa Hotels & Resorts N.V. (PLYA - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 346.7%, on average. The stock has gained 9.8% in the past year.
The Zacks Consensus Estimate for PLYA’s 2024 sales indicates a rise of 3.4% from the year-ago levels.
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Royal Caribbean (RCL) Raises 2024 Guidance on Robust Demand
Royal Caribbean Cruises Ltd. (RCL - Free Report) announced a notable increase in its 2024 guidance, citing an unexpectedly robust demand for its vacation experiences. Following the news, the company’s shares gained 6.2% in the after-hour trading session on Feb 21.
The company's latest update reflects an optimistic outlook fueled by an exceptional performance in the WAVE booking season, surpassing previous records in its history. With bookings for all four quarters of 2024 and across key product lines exceeding last year's figures in both rate and volume, RCL is poised for a promising year ahead.
Jason Liberty, president and CEO of Royal Caribbean, expressed his enthusiasm regarding the surge in demand, emphasizing the company's commitment to delivering exceptional vacation experiences while driving long-term shareholder value. The increase in adjusted EPS guidance by $0.40 compared with February projections reflects its confidence in revenue outlook, driven by a significant uptick in constant currency net yield growth.
The revised adjusted EPS for 2024 is now expected to be between $9.90 and $10.10, with a notable portion of the increase attributed to an improved revenue outlook for the first quarter. This upward revision underscores Royal Caribbean's strong momentum and ability to capitalize on evolving market dynamics.
The achievement of all Trifecta goals in 2024 marks a significant milestone for RCL, signaling its commitment to delivering exceptional value to both guests and shareholders alike. With consumer spending for onboard purchases continuing to surpass prior years, driven by increased participation at higher prices, Royal Caribbean demonstrates resilience and adaptability in navigating the evolving landscape of the travel industry.
In conclusion, Royal Caribbean’s upward revision in guidance for 2024 reflects its optimistic outlook fueled by robust demand and a strong performance in the WAVE booking season. With an enhanced revenue outlook and a focus on achieving key strategic goals, RCL remains well-positioned to deliver value and memorable experiences to its guests while driving sustainable long-term growth.
In the past year, shares of the Zacks Rank #1 (Strong Buy) company have surged 60.2% compared with the industry’s growth of 2.5%.
Image Source: Zacks Investment Research
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Some other top-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Trip.com Group Limited (TCOM - Free Report) currently sports a Zacks Rank #1. TCOM has a trailing four-quarter earnings surprise of 199.4%, on average. Shares of TCOM have rallied 15.5% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 17.7% and 18%, respectively, from the year-ago levels.
H World Group Limited (HTHT - Free Report) currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 94.5%, on average. The stock has lost 28.5% in the past year.
The Zacks Consensus Estimate for HTHT’s 2024 sales and EPS indicates an improvement of 7.2% and 7.1%, respectively, from the year-ago levels.
Playa Hotels & Resorts N.V. (PLYA - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 346.7%, on average. The stock has gained 9.8% in the past year.
The Zacks Consensus Estimate for PLYA’s 2024 sales indicates a rise of 3.4% from the year-ago levels.