By Will Feuer
Cruise stocks gained after Royal Caribbean issued rosy guidance for 2024, fueling investor optimism that the industry’s rebound is still gaining momentum.
Shares of Royal Caribbean rose 4% in the premarket session, adding to the 90% gain the stock has seen over the past 12 months.
Shares of rivals Carnival and Norwegian Cruise Line Holdings rose more than 3% and 2%, respectively, in premarket trading. Over the past 12 months, Carnival stock is up 46% and Norwegian shares have risen almost 11%.
Earlier Thursday, Royal Caribbean guided for 2024 adjusted earnings of $9.50 a share to $9.70 a share, above the $9.21 a share that analysts are expecting. The company said its new ship – Icon of the Seas – is boosting bookings, along with the expansion of its private-island experience, called Perfect Day at CocoCay.
Write to Will Feuer at [email protected]
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