- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Royal Caribbean Cruises Ltd. (NYSE:RCL) reported its results for the first quarter. Royal Caribbean Cruises operates in the cruise vacation industry. It owns five cruise brands: Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France.
Investing Insights: What’s the Future of Microsoft’s Stock?
Royal Caribbean Cruises Earnings Cheat Sheet for the First Quarter
Results: Net income for Royal Caribbean Cruises Ltd. fell to $47 million (21 cents per share) vs. $78.4 million (36 cents per share) a year earlier. This is a decline of 40.1% from the year-earlier quarter.
Actual vs. Wall St. Expectations: Royal Caribbean Cruises Ltd. beat the mean analyst estimate of 15 cents per share.
Quoting Management: “First quarter results were satisfactory given the difficult and uncertain operating environment and we continue to see gradual improvement in the demand for our great vacations,” said Richard D. Fain, chairman and chief executive officer. Fain continued, “We did not expect the impact of the tragedy to be long term and we are seeing evidence the effects are waning.”
For three consecutive quarters, the company has topped analyst estimates. It beat the mark by 3 cents in the fourth quarter of the last fiscal year and by 4 cents in the third quarter of the last fiscal year.
Looking Forward: Over the past ninety days, the average estimate for the second quarter has fallen from 39 cents per share to 19 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $2.87 a share to $2.10 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.