We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Royal Caribbean Group | NYSE:RCL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.6983 | 0.51% | 138.0783 | 140.94 | 137.99 | 138.68 | 2,090,876 | 01:00:00 |
Royal Caribbean Cruises Ltd. (RCL) issued 2016 and first-quarter earnings guidance below expectations and the cruise-ship operator reported that its fourth-quarter revenue rose 4.6%.
Shares fell 5.9% to $79.56 in recent premarket trading as fourth quarter revenue was slightly below expectations.
For 2016, the Miami company forecast per-share earnings of $5.90 to $6.10. Analysts polled by Thomson Reuters expected per-share profit of $6.27.
For the current quarter, the company forecast per-share earnings of roughly 30 cents. Analysts polled by Thomson Reuters expected per-share profit of 46 cents.
During the December quarter, Royal Caribbean's revenue increased to $1.9 billion from $1.82 billion, below analysts' expectations for revenue of $1.96 billion.
Excluding currency effects, net yields—a key measure of performance for the sector—rose 4.9%, near the high end of expectations for growth of between 4.5% and 5%. The growth was driven by stronger demand in the Caribbean and new cruises in China.
Royal Caribbean's profit in recent quarters had been propelled by favorable currency exchange rates and lower fuel costs as commodity prices have remained in a slump.
Royal Caribbean, whose brands also include Celebrity and other lines as well as its namesake cruises, said bookings for 2016 are roughly equal to record levels last year and at higher rates. The company said it continues to see strong demand for its products in North America, including the Caribbean, Alaska and Bermuda, which comprise more than half of its capacity. Royal Caribbean expects that this along with strong demand for Europe and Asia cruises will more than offset pricing challenges in the Mediterranean, Australia and Brazil.
Overall, Royal Caribbean reported a profit of $206.8 million, or 94 cents a share, up from $109.8 million, or 49 cents a share, a year earlier. The company had expected adjusted per-share earnings of 90 cents.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
February 02, 2016 09:45 ET (14:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year Royal Caribbean Chart |
1 Month Royal Caribbean Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions