Record bookings and improved financial performance drive stock rally

  • Royal Caribbean reports fourth-quarter profit that beats expectations
  • Record bookings in both rates and volume
  • Net income of $278 million, swinging from a loss of $500 million in the year-ago period
  • Adjusted earnings per share of $1.25, beating the consensus of $1.14
  • Revenue jumps 27.9% to $3.33 billion
  • Upbeat outlook for 2024 with adjusted EPS of $9.50 to $9.70

Shares of Royal Caribbean Group surged after the cruise operator reported a strong fourth-quarter profit that exceeded expectations. The company swung to a net income of $278 million, a significant improvement from the loss of $500 million in the same period last year. Adjusted earnings per share came in at $1.25, beating the consensus of $1.14. Revenue also saw a substantial increase, jumping 27.9% to $3.33 billion. The positive financial results were driven by record bookings in both rates and volume. Looking ahead, Royal Caribbean provided an upbeat outlook for 2024, with adjusted EPS projected to be between $9.50 and $9.70. This forecast surpassed expectations and contributed to the stock’s rally, which has seen a 49.5% increase over the past three months.

Public Companies: Royal Caribbean Group (RCL)
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Factuality Level: 8
Justification: The article provides specific financial information about Royal Caribbean Group’s fourth-quarter profit and revenue, as well as their outlook for 2024. The information is sourced from the company’s official report and includes comparisons to analyst expectations. There is no obvious bias or opinion presented in the article.

Noise Level: 3
Justification: The article provides a straightforward report on Royal Caribbean Group’s fourth-quarter profit and revenue. It includes relevant financial figures and compares them to expectations. However, it lacks analysis, context, and any mention of potential risks or challenges the company may face in the future.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Royal Caribbean Group

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance and outlook of Royal Caribbean Group. There is no mention of any extreme event.

Reported publicly: www.marketwatch.com