Royal Caribbean (RCL) jumps on beat and raise quarter amid robust cruise demand

Royal Caribbean (NYSE: RCL) shares jumped over 4% in early trading Thursday after a solid beat in its third quarter and raised guidance.

The cruise operator reported adjusted EPS of $3.85, easily beating the consensus of $3.47. Revenue rose 39% to $4.16 billion, topping the consensus of $4.05 billion.

The company said the beat was driven by stronger close-in demand and further strength in onboard revenue.

"The strength of our brands and the acceleration of consumer spending on experiences have propelled us towards another outstanding quarter and a robust 2023," President and CEO Jason Liberty said. "Looking ahead, we see accelerating demand as we build the business for 2024."

The company lifted its full-year adjusted EPS guidance to $6.58 – $6.63, driven by strong demand and continued strength in onboard revenue. This easily topped the consensus of $6.15.

By StreetInsider.com Staff

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