Royal Caribbean Cruises Ltd (NYSE:RCL) stock was up Tuesday on a strong earnings report for the third quarter of 2017.
During the third quarter of the year, Royal Caribbean Cruises Ltd reported earnings per share of $3.49. This is an increase over its earnings per share of $3.20 from the third quarter of 2016. It was also a boon to RCL stock by beating out Wall Street’s earnings per share estimate of $$3.41 for the quarter.
Royal Caribbean Cruises Ltd reported revenue of $2.57 billion for the third quarter of the year. The cruise company reported revenue of $2.56 billion during the same period of the year prior. Analysts were looking for RCL to report revenue of $2.57 billion for the third quarter of 2017.
Royal Caribbean Cruises Ltd also provided its outlook for the full year of 2017 in its most recent earnings report. It is expecting earnings per share for the year to range from $7.35 to $7.40. Without trouble from hurricanes, it would have been expecting earnings per share to be between $7.60 and $7.65. Wall Street is estimating earnings per share of $7.40 for the year.
Royal Caribbean Cruises Ltd says that it is expecting a year of solid yield and earnings growth in 2018. It notes that bookings for early 2018 are higher than last year and that the booking window is still extending. The company will also be launching its Symphony of the Seas in Europe next spring and Celebrity Edge in Fort Lauderdale late in the year.
RCL stock was up 1% as of Tuesday morning and is up 55% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
