Royal Caribbean Soars
Royal Caribbean Cruises (RCL) share prices soared last Tuesday after executives said that new ships and better management of existing ships are expected to drive record profits in 2011. The stock rose nearly 15 percent, or by more than $5.00, to close well above $40.00. RCL’s full-year earnings for 2010 will be in the range of $2.43 to $2.47, according to executives speaking on the company’s Q3 earnings call, compared to $0.75 in 2009 and $2.68 in 2008. Next year, earnings are forecast to exceed the prior record of $3.26.
NCL: Growth Plans
Norwegian Cruise Line (NCL) has filed for a $250 million initial public offering (IPO), and has announced an agreement to build two new 143,500-ton, 4,000-passenger ships at Meyer Werft for delivery in 2013 and 2014.
And there is more: Cruise Baltic and cruise lines start to plan for longer seasons; Dominican Republic reports year-over-year increase in cruise traffic; Steiner reports Q3