Royal Caribbean Group has announced that it is anticipating better-than-expected topline performance in the first quarter and has raised its outlook for the year. The cruise operator’s shares saw a 6.7% increase to $122.62 in after-hours trading on Wednesday, following a slight decline at the market session’s close.
Strong Bookings and Improved Revenue Outlook
Bookings during Royal Caribbean’s off-season period have been surpassing expectations since early February. The company is now guiding for adjusted earnings per share of $9.90 to $10.10 for 2024, up from its previous range of $9.50 to $9.70. This new guidance exceeds analysts’ expectations of $9.73 a share, according to FactSet.
Increasing Demand for Vacation Experiences
According to Chief Executive Jason Liberty, there has been robust demand for Royal Caribbean’s vacation experiences, surpassing initial projections. The company is very optimistic about the demand and pricing environment for the year. Royal Caribbean recorded its best booking performance in history during the first five weeks of 2024.
Overall, the company remains positive about its future outlook and anticipates continued success in the upcoming year.
