Major cruise operators post revenue growth in mixed second-quarter results
Norwegian, Carnival and Royal Caribbean met analysts’ revenue expectations, while earnings and guidance results varied.
Three major cruise operators reported year-over-year revenue growth in the second quarter, contributing to a broadly satisfactory period for tracked travel and vacation providers.
Norwegian Cruise Line generated $2.64 billion in revenue, up 4.9% from a year earlier and in line with analysts’ expectations. The company exceeded analysts’ earnings-per-share estimates, although its full-year EBITDA guidance fell short of their expectations. Norwegian Cruise Line Holdings Chairperson and CEO John W. Chidsey said second-quarter profitability came in ahead of guidance as the company continued pursuing its longer-term strategic priorities.
Carnival reported revenue of $6.66 billion, a 5.3% year-over-year increase that matched analysts’ expectations. Its earnings per share surpassed estimates, but its EBITDA guidance for the next quarter was below analysts’ expectations.
Royal Caribbean recorded $4.83 billion in revenue, rising 6.5% year over year and meeting analysts’ expectations. Its full-year earnings-per-share guidance was higher than analysts had anticipated.
Across 19 tracked consumer discretionary travel and vacation provider stocks, aggregate second-quarter revenue was 1.3% above consensus estimates. Combined revenue guidance for the following quarter was 0.6% above consensus.