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• Royal Caribbean Cruises-stock

Royal Caribbean Cruises Ltd. Stock , RCL

Royal Caribbean Cruises Stock Snapshot

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Royal Caribbean Group RCL

Company report, royal caribbean earnings: consumer demand is full steam ahead on the high seas; shares fairly valued.

The appetite for cruise holidays hasn’t abated, driving profitability significantly higher at narrow-moat Royal Caribbean. At the start of the year, Royal forecast EPS of $9.50-$9.70 for 2024 but has since lifted its outlook twice. The firm is on track to generate $10.70-$10.90, well ahead of our $10.23 estimate before the earnings report and a high-water mark for the company—despite having more shares and more than double the debt-service cost compared with 2019. All potential contributors to higher profitability have helped, including solid close-in demand, strong onboard revenue, and favorable expense timing. Investors responded well to the lift in outlook and first-quarter outperformance, with shares up 2% in a down market. Even as we expect to raise our $125 fair value estimate by a high-single-digit rate, we view shares as fairly valued.

Price vs Fair Value

Bulls say, bears say.

If consumer preference for experiences over things persists, yields could rise faster than we currently expect as demand rises.

Weakness in consumer spending spurred by an economic downturn could affect discretionary spending and cause pricing to soften intermittently.

Royal Caribbean sees record bookings as demand for experiences and travel grow

Royal caribbean's stock rallies toward a record on 'very robust' cruise demand, royal caribbean group reports first quarter results and increases full year guidance on continued strong demand, first celebrity cruises guests enjoy perfect day at cococay, construction begins on royal caribbean's first royal beach club, royal caribbean group shares comprehensive update on its decarbonization journey, cruise operator viking to valued at up to $10.7 billion after ipo terms set, bert hernandez named brand president of silversea, trading information, key statistics, company profile, competitors.

• Carnival Corp CCL
• Norwegian Cruise Line Holdings Ltd NCLH
• Wyndham Hotels & Resorts Inc Ordinary Shares WH

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Royal Caribbean Cruises Ltd

Key statistics.

1.92 mean rating - 24 analysts

2024 (millions USD)

About Royal Caribbean Cruises Ltd (RCL.N)

Company information.

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Silversea Cruises. It also has interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises. The Company’s ships offer a selection of worldwide itineraries that call on approximately 1,000 destinations on all seven continents. Royal Caribbean International offers cruises and land destinations that generally feature a casual ambiance, as well as a variety of activities and entertainment venues. Celebrity Cruises offers a range of itineraries to destinations, including Alaska, Asia, Australia, Bermuda, Canada, the Caribbean, Europe, the Galapagos Islands, Hawaii, New Zealand, the Panama Canal and South America, with cruise lengths ranging from three to 18 nights. Silversea Cruises operates 11 ships, with an aggregate capacity of approximately 4,770 berths, including Silver Endeavour brand.

Contact Information

+ 1 ( 305 ) 5396000

https://www.royalcaribbeangroup.com/

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2023 (millions USD)

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Royal Caribbean Earnings Tick All the Boxes. The Stock Is Sailing Higher.

R oyal Caribbean stock sailed higher Thursday after the cruise operator beat earnings expectations and hiked full-year profit guidance.

Everything is going well for the company—demand is strong, pricing is high, and passengers are spending more and more onboard its voyages.

The cruise operator reported adjusted earnings of $1.77 a share, sailing better than analysts’ expectations of $1.33. Revenue of $3.7 billion came in slightly above expectations.

But Royal Caribbean’s guidance hike provides the really good news for the stock. The company now expects full-year earnings of between $10.70 and $10.90 a share, up from a range of $9.90 to $10.10.

“Demand for our leading brands and the incredible experiences they deliver continues to be very robust, resulting in outperformance in the first quarter, a further increase of full year earnings guidance, and 60% expected earnings growth year over year,” CEO Jason Liberty said.

The shares rose 1.8% in early trading.

Royal Caribbean needed to calm market jitters with its earnings, and it seems to have done just that Thursday. Cruise stocks have pulled back in recent weeks and Mizuho analyst Ben Chaiken, who rates Royal Caribbean a Buy, said there’s been a broader fear of price deceleration in the industry. He countered that by noting that trends in the cruise industry were better than expected, and stronger than other areas of the travel sector.

The company appeared to debunk that particular theory for the time being as it flagged record ticket pricing in an update on bookings.

It was a bumper 2023 for the cruise industry as international travel demand surged after Covid-19 pandemic restrictions were lifted, but Royal Caribbean has even greater expectations for 2024.

The stock was the one of the best-performing in the S&P 500 last year—its 162% jump was only bettered by Nvidia and Meta Platforms. However, Royal Caribbean is having a tougher year than last.

The company’s second full-year guidance hike in three months has helped matters—the stock was 11% down in 2024 before its outlook was raised in February. The shares have gained 5.6% up for the year as of Wednesday’s close.

Its peers have struggled more, Carnival has fallen 19% this year and Norwegian Cruise Line Holdings has declined 3.2%.

Royal Caribbean has faced choppier waters so far in 2024 but Thursday’s earnings could lead to the smoother sailing ahead.

Write to Callum Keown at [email protected]

Royal Caribbean Lifts Profit View Again on Cruise Boom, Higher Prices

FILE PHOTO: Royal Caribbean's Icon of the Seas, the largest cruise ship in the world, is docked at Costa Maya Cruise Port, in the village town of Mahahual, Quintana Roo state, Mexico, February 6, 2024. REUTERS/Paola Chiomante/File Photo

By Juveria Tabassum and Doyinsola Oladipo

(Reuters) -Royal Caribbean Group on Thursday raised its annual profit forecast for a second time, after record bookings during the first quarter and higher ticket pricing boosted its results, sending its shares 4% higher premarket.

Soaring demand for vacations at sea has given cruise operators ample room to raise ticket prices as the industry looks to close the pricing gap between more expensive land-based holidays and give their profits a lift.

Royal Caribbean also beat expectations for quarterly profit and revenue, with half of its yield growth coming from higher ticket pricing.

"Our existing fleet along with our new ships continue to perform exceptionally well, highlighted by the market response to the launch of Icon of the Seas," said CEO Jason Liberty.

The company now expects annual adjusted profit between $10.70 and $10.90 per share, compared with its earlier forecast of $9.90 to $10.10.

The Celebrity Cruises operator carried 2.05 million passengers in the quarter, nearly 14% higher year-over-year. It also reported record demand during the "wave season" - a period marked by special cruise deals and discounts for the year.

That helped its quarterly revenue of $3.73 billion surpass expectations of $3.69 billion, according to LSEG data.

Higher ticket prices have helped shield the company from slightly steeper net cruise costs expected this year due to increased dry dock days, as well as an impact from canceled voyages to the Red Sea amid tensions in the region.

The company expects net cruise costs excluding fuel to increase about 5.5% for the year, up from its earlier forecast for a rise between 3.75% to 4.25%.

Royal Caribbean's adjusted earnings per share of $1.77 beat market expectations of $1.33.

"I remember owning the stock in 2022 and every client was giving me grief about it," said Peter Ahluwalia, manager at Belinvest Global Equity Fund that holds Royal Caribbean stocks and chief investment officer at Swiss Partners Group. "We're turning almost 45% return on equity at the moment, which is quite incredible."

Shares of the company have risen 126% to about $137 in the past year.

(Reporting by Juveria Tabassum in Bengaluru and Doyinsola Oladipo in New York; Editing by Devika Syamnath)

Copyright 2024 Thomson Reuters .

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Royal Caribbean’s Cruise Guests Are Getting Younger: Nearly Half Are Millennials or Gen Z

Elizabeth Casolo , Skift

April 25th, 2024 at 1:30 PM EDT

Younger travelers are making waves on Royal Caribbean Group cruises, steering the company’s post-pandemic growth.

Elizabeth Casolo

Some cruise stereotypes are going overboard as Royal Caribbean Group executives witness a boost in younger travelers.

During Royal Caribbean’s first-quarter earnings call, President and CEO Jason Liberty said nearly half of the company’s cruise guests are millennials or younger. The demographic gained 11 percentage points of share compared to 2019.

Liberty attributed some of Royal Caribbean’s exclusive destinations — like Perfect Day at CocoCay in the Bahamas — to this growth.

“One of the incredible things that we’re seeing out of destinations like Perfect Day — and we’ll see this in the Royal Beach Club in Nassau — is how it’s drawing in new-to-cruise (passengers) and millennials,” Liberty said.

Destination as the Driver

Executives said that Caribbean sailings remain most popular, hitting 55% of Royal Caribbean’s deployment for this year. Royal Caribbean International, one of the company’s brands, will also dispatch its upcoming Utopia of the Seas ship to the Caribbean. The ship intends to rival land-based vacations , all while seizing demand for private destinations, such as Perfect Day.

“Utopia is not by accident,” said Michael Bayley, Royal Caribbean International president and CEO. “Utopia is sailing out of Port Canaveral… It really is another product that’s squarely in this competitive space of (land-based) vacations, and we’re seeing huge demand.”

Royal Caribbean is leaning into exclusivity. The company just broke ground on its new Royal Beach Club Paradise Island in Nassau, slated to open in 2025. Royal Beach Club in Cozumel is expected to open in 2026.

Europe trails behind the Caribbean, fulfilling nearly a quarter of Royal Caribbean’s capacity in the summer. Despite changes in Israel and Red Sea itineraries , Royal Caribbean executives were confident in European bookings.

“We are currently booked nicely ahead of last year in both rate and volume,” Royal Caribbean CFO Naftali Holtz said.

As Royal Caribbean returns to its Chinese market this month — preparing to bring a second ship next year — the company is also deploying other ships to Alaska.

More Early Birds

Royal Caribbean announced its strongest wave season yet. The period lasts from January through March, when cruises usually post their best early offers for the year. The first quarter’s net income was $360 million, following losses early last year. Total revenues reached $3.7 billion, up from $2.9 billion.

While customers who prebook skew a bit younger, Liberty said Royal Caribbean’s digital traction is steady across demographics. Customers arrange onboard activities earlier compared to last year, engaging in 10% more experiences per booking.

The Royal Caribbean mobile app attracts 94% of guests, according to Liberty. The app now allows both cruise and flight bookings.

“Our journey to deepen the relationship with the customer continues this year,” Liberty said. “We are removing friction and unlocking travel planning by investing in a modern digital travel platform, making it easier than ever for guests to book their dream vacations, while allowing us to expand wallet share.”

Cruise and Tours Sector Stock Index Performance Year-to-Date

What am I looking at?  The performance of cruise and tours sector stocks within the ST200 . The index includes companies publicly traded across global markets including both cruise lines and tour operators.

The Skift Travel 200 (ST200)  combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more cruise and tours sector financial performance .

Read the full methodology behind the Skift Travel 200.

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Our daily coverage of the global travel industry. Written by editors and analysts from across Skift’s brands.

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Tags: alaska , bahamas , caribbean , celebrity cruises , china , cruise , cruise earnings , cruise industry , cruise lines , earnings , europe , israel , israel-hamas war , Post Pandemic Recovery , red sea , royal caribbean , royal caribbean cruises , silversea

Photo credit: Utopia of the Seas rendering. Source: Royal Caribbean International Royal Caribbean International

I went on 2 of Royal Caribbean's largest and newest cruise ships. I enjoyed them, but they're not for everyone.

• I've sailed on Royal Caribbean's largest cruise ships , Wonder of the Seas and Icon of the Seas.
• Both megaships are jam-packed with people, amenities, and dining options.
• But if you want a quiet cruise to unique destinations, they might not be for you.

Before booking a vacation at sea, travelers should always research the best cruise line and ship for their needs.

If you're looking for a cheap and fast trip, try Margaritaville at Sea . Craving something more upscale? Consider Oceania Cruises.

But if you're looking for high-end sailing to unique destinations, I'd suggest avoiding Royal Caribbean's megaships .

Royal Caribbean has become synonymous with giant, family-friendly cruise ships

By 2028, Royal Caribbean wants one-third of its fleet to be megaships.

The latest addition, the 1,196-foot-long and 248,663-gross-ton Icon of the Seas, entered service in January, unseating Wonder of the Seas as the world's largest cruise liner.

Together, the two vessels can fit over 19,000 people — about 4,500 crew and 14,500 guests. Each ship has eight neighborhoods and there are 29 bars and 48 eateries between them.

I've attended complimentary sailings on both Wonder and Icon, the longest of which was three nights on the latter. From their colorful pool decks to the inescapable crowds, as a solo-adult traveler, I was equal parts entertained, overwhelmed, and overstimulated.

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But admittedly, I had fun. I do love a good waterslide; Wonder has three of them and Icon has six.

If you want to go on a cruise with your children — and if they, like me, love activities like rock climbing and mini golf — Royal Caribbean's megaships could be your best option.

Wonder and Icon are jam-packed with activity spaces like ice-skating rinks and ziplines.

But don't expect a peaceful retreat. The rowdy, bar-hopping adults and screaming children at the water playground aren't conducive to a relaxing vacation.

Megavessels might not be for you if you want a quiet cruise

If you want a relaxing vacation — maybe one that doesn't involve crowds of children — you shouldn't stay on either Royal Caribbean yacht.

There are many ways to have a luxury vacation on Icon of the Seas . But unless you want to pay for upcharged amenities at every turn, you'd be better off spending more upfront to reserve a premium cruise line — especially if you're interested in cruising for the destinations, not the ships.

After all, like most of Royal Caribbean's largest vessels, Icon and Wonder exclusively sail in the Caribbean.

Some destinations, such as French Polynesia, have set restrictions on which cruises can travel there amid concerns about pollution and overcrowding.

If stopping at these ports — or, really, anywhere outside the Caribbean — is at the top of your vacation wish list, you'll have to travel on a smaller Royal Caribbean ship or go with a different cruise line like Oceania , Silversea, and Regent Seven Seas.

You might not get a waterpark, but you'll get a quieter vacation to locations no megaship will likely be allowed to visit.

Watch: Inside the world's biggest cruise ship that just set sail

• Main content

Shareholder Benefits

This exclusive benefit offer is reserved solely for shareholders owning a minimum of 100 shares of Royal Caribbean Group (NYSE: RCL) at time of sailing.

$1,000 Onboard Credit per Stateroom on a World Cruise

$250 Onboard Credit per Stateroom on Sailings of 14 or more nights.

$100 Onboard Credit per Stateroom on Sailings of 6-13 nights.

$50 Onboard Credit per Stateroom on Sailings of 5 nights or less.

• Applicable on any eligible Royal Caribbean International, Celebrity Cruises or Silversea Cruises sailing.
• Excludes any charter or Galapagos sailings.

To complete your Shareholder Onboard Credit Offer Request electronically click here .

You can complete your Shareholder Onboard Credit Request for Silversea Cruises here .

Requests should be received in our office approximately 2-3 weeks prior to your sail date.

The benefit is only available for the stateroom in which the shareholder (with a minimum of 100 shares) is sailing. Onboard credit is applied on a per stateroom basis, double occupancy. Only one shareholder credit per stateroom on any one sailing. If shares are held jointly, 100 shares are required for each onboard credit request on any one sailing.

Yes, you may request this benefit multiple times-as often as you sail on Royal Caribbean International, Celebrity Cruises or Silversea Cruises. (excludes any charter or Galapagos sailings)

Benefit is non-transferable and not available to employees of Royal Caribbean Group or its subsidiaries and affiliates. Benefit cannot be redeemed for chartered sailings, any Galapagos sailings or complimentary sailings.

No. Benefit is non-transferable. Only the stateroom that the shareholder is traveling in will be eligible for the onboard credit.

Shareholder benefit offer applies to bookings made on or after June 1, 2023. Onboard credit is applied on a per stateroom basis; double occupancy, one shareholder credit per stateroom, and one credit per shareholder per sailing. If you are requesting shareholder onboard credit for two or more separate staterooms and shares are held jointly, a minimum of 100 shares per stateroom booked must be held. Single guests paying 200% of applicable fare receive full onboard credit value. Onboard credit may not be used for onboard service charges or pre-purchased activities. Any unused credit after the final night of the sailing shall be forfeited and is not redeemable for cash. Notwithstanding the foregoing, World Cruise onboard credit benefit may be used for shore excursions and, if unused, may be refunded upon request to the shareholder’s original form of payment. Benefit is non-transferable and not available to employees of Royal Caribbean Group or its subsidiaries and affiliates. Benefit cannot be redeemed for chartered sailings, complimentary sailings or Galapagos sailings. The shareholder must own the Royal Caribbean Group (NYSE: RCL) stock at time of sailing. Onboard credit is calculated in US dollars except on sailings where the onboard currency used is a foreign currency (in which case the onboard credit will be converted at a currency exchange rate determined by the cruise line). Onboard credit amount is credited to shareholder’s stateroom folio at time of sailing. Other terms and conditions may apply. Prices and offers are subject to availability and change without notice, capacity controlled, and may be withdrawn at any time.

You can download the Shareholder Benefits PDF  here .

You can complete your Shareholder Onboard Credit Offer Request electronically here .

Email us at [email protected]

For Silversea Cruises Email us at [email protected]

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2020 and beyond. Words such as “anticipate,” “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering”, and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and has had and will continue to have a material adverse impact on our business and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs associated with protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; and the unavailability or cost of air service.

In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. It is not possible to predict or identify all such risks.

More information about factors that could affect our operating results is included under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q, as well as our other filings with the SEC, and the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent annual report on Form 10-K, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov . Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.