CCL

Oxford Industries, Inc. OXM is likely to post a year-over-year increase in its bottom line when it reports second-quarter fiscal 2026 results on Sept. 3, after market close. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.32 per share, indicating an increase of 4.8% from the prior-year number. The consensus estimate for earnings has been stable in the past 30 days.The consensus estimate for quarterly revenues is pegged at $393.2 million, indicating a dip of 2.5% year over year.In the last reported quarter, the company delivered an earnings surprise of 9.5%. It has a negative trailing four-quarter earnings surprise of 65.8%, on average. Oxford Industries’ quarterly results are expected to benefit from efforts to optimize its sourcing network, mitigate tariff-related cost pressures and safeguard margins. The company is also implementing targeted price increases on new products to offset higher costs while carefully managing consumer demand. Meanwhile, its continued focus on expanding direct-to-consumer sales across retail and e-commerce is expected to have supported margin improvement and strengthen customer engagement.In addition, Oxford Industries is strengthening Tommy Bahama through improved assortments, stronger execution of key products, product innovation and lifestyle-focused storytelling, while focusing on expanding its women’s business. At Johnny Was, the company is pursuing a turnaround by tightening inventory purchases, reducing promotional activity, enhancing merchandise productivity and refining its assortment and marketing strategies. OXM is also rationalizing the Johnny Was store base by closing underperforming locations and creating a more productive and efficient retail footprint.For Lilly Pulitzer, Oxford is improving merchandising and marketing by addressing entry-price gaps, product allocation, assortment and brand messaging, while responding more quickly to changes in demand. The company is also working to grow Beaufort Bonnet Company and Duck Head through stronger brand storytelling and broader distribution. The company is maintaining strict control over expenses and inventory, limiting discretionary spending and reducing unnecessary promotions to protect profitability. Such endeavors are likely to have aided OXM’s performance during the quarter under review.On the flip side, Oxford Industries has been facing headwinds, including higher tariff-related costs and continued uncertainty around trade policies. The company is also dealing with cautious consumer spending and weaker discretionary demand amid economic and geopolitical uncertainty. Performance at Lilly Pulitzer remains under pressure, particularly in e-commerce, with merchandising gaps, product assortment issues, entry price points and brand messaging affecting sales. Johnny Was is also experiencing weakness in its wholesale business, especially among specialty stores, while its direct-to-consumer sales remain soft. In addition, declining demand from specialty retailers and challenges at certain retail partners, including Saks Global, are weighing on wholesale performance. Such factors are likely to have hurt the company’s top-line performance during the quarter under review. The Zacks Consensus Estimate for Lilly Pulitzer and Johnny Was revenues is pegged at $84 million and $39.50 million, respectively, showing year-over-year decreases of 6.7% and 13%. Oxford Industries, Inc. price-eps-surprise | Oxford Industries, Inc. Quote Our proven model does not conclusively predict an earnings beat for Oxford Industries this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Oxford Industries has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter. From a valuation perspective, Oxford Industries has a forward 12-month price-to-earnings ratio of 13.50X, below the five-year high of 17.83X and the Textile - Apparel industry’s average of 14.86X.The recent market movements show that OXM’s shares have gained 2% in the past six months against the industry's 7.5% decline. Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter. The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The Toro Company TTC is likely to post a year-over-year increase in its top and bottom lines when it reports third-quarter fiscal 2026 results on Sept. 3, before market open. The Zacks Consensus Estimate for quarterly earnings is pegged at $1.30 per share, indicating an increase of 4.8% from the prior-year number. The consensus estimate for earnings has been stable in the past 30 days.The consensus estimate for quarterly revenues is pegged at $1.2 billion, indicating a rise of 5.2% year over year.In the last reported quarter, the company delivered an earnings surprise of 6.7%. It has a trailing four-quarter earnings surprise of 7%, on average. Toro’s quarterly results are expected to reflect benefits from the ongoing execution of its strategic efforts. It is focused on driving growth through its AMP productivity program, which leverages lean principles, Kaizen events and continuous improvements to generate cost savings and improve operational efficiency. In addition, the company is seeing strength across its Toro, Exmark and Ventrac brands.The company is also streamlining its manufacturing footprint, workforce and product portfolio to strengthen margins and offset inflationary and tariff pressures. Toro is increasing investments in electrification, smart-connected products, autonomous solutions, Artificial Intelligence and advanced manufacturing technologies to enhance product innovation and efficiency. The company is expanding its underground construction business through strong demand for Ditch Witch equipment and the integration of Tornado, while also seeking to increase parts and service penetration. In golf, Toro is advancing autonomous solutions to help customers improve productivity and address labor constraints. The company also remains open to disciplined acquisitions, particularly in the Professional segment, where it can leverage existing capabilities and technology to enter adjacent markets. All the aforesaid factors are likely to boost TTC’s results in the quarter under review.The Zacks Consensus Estimate for Professional and Residential segments’ sales is pegged at $983 million and $197 million, respectively, showing year-over-year increases of 5.6% and 2.1%.On the flip side, Toro continues to face headwinds, including higher material and fuel costs, tariff expenses, inflation and challenging consumer confidence. Residential demand remains pressured by cautious consumers, with some homeowners trading down to lower-priced products, while weakness in European residential markets is also weighing on international performance. Toro Company (The) price-eps-surprise | Toro Company (The) Quote Our proven model does not conclusively predict an earnings beat for Toro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Toro has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter. From a valuation perspective, Toro’s shares are trading at a premium relative to the industry benchmarks. The stock has a forward 12-month price-to-earnings ratio of 20.29X, above the five-year median of 19.26X and the Tools - Handheld industry’s average of 19.57X.The recent market movements show that Toro shares have gained 0.9% in the past six months compared with the industry's 3% growth. Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter. The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toro Company (The) (TTC) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PVH Corporation PVH is likely to post a year-over-year increase in its bottom line when it reports second-quarter fiscal 2026 results on Sept. 2, after market close. The Zacks Consensus Estimate for quarterly earnings is pegged at $3.08 per share, indicating an increase of 22.2% from the prior-year number. However, the consensus estimate for revenues has dipped a penny in the past 30 days.The consensus estimate for quarterly revenues is pegged at $2.1 billion, indicating a decrease of 3.2% year over year.In the last reported quarter, the company delivered an earnings surprise of 11.7%. It has a trailing four-quarter earnings surprise of 16.5%, on average. PVH Corp.’s quarterly results are expected to reflect continued benefits from the ongoing execution of the PVH+ Plan and improving momentum across its iconic brands, Calvin Klein and Tommy Hilfiger. The company has been witnessing strength in direct-to-consumer (DTC) channels, particularly e-commerce, supported by stronger consumer engagement, increased traffic and focused marketing investments. The company is focused on strengthening its core brands by targeting key consumer segments, expanding product innovation and concentrating on high-potential categories. The Zacks Consensus Estimate for DTC revenues is pegged at $1 billion for the quarter under review.Calvin Klein is emphasizing underwear and denim, while Tommy Hilfiger is focusing on sweaters, outerwear, shirts and knits. PVH is also accelerating its shift toward a more data and demand-driven operating model. Its enterprise data platform and partnerships with OpenAI and Salesforce are helping connect consumer, product and operational insights to improve decision-making and respond more quickly to demand. The company is simultaneously investing in its shopping experience, including e-commerce, stores and shop-in-shops, while strengthening its supply chain and inventory management. The Zacks Consensus Estimate for Calvin Klein and Tommy Hilfiger brands’ revenues is pegged at $953 million and $1.1 billion, respectively, showing sequential increases of 6.5% and 2.9%.On its last earnings call, PVH had forecast a non-GAAP operating margin of about 9.5%, up from 8.2% in the year-ago period, reflecting an estimated positive impact of roughly 470 basis points tied to tariff refunds. Management had projected non-GAAP earnings to be $3.00-$3.10 per share compared with $2.52 a year ago, including an estimated $0.05 per-share benefit from foreign currency translation.However, PVH continues to operate against a challenging global consumer backdrop. The prolonged Middle East conflict has been weighing on the EMEA business through weaker wholesale demand in the Middle East, reduced tourism and softer demand in Turkey, as well as lower consumer traffic and spending across Europe. Higher fuel costs and weak consumer sentiment are likely to have remained pressure points. Tariffs also remain a significant margin headwind. In addition, cautious wholesale partners, particularly in APAC, continued to weigh on sales, while higher marketing investments and softer revenue expectations are contributing to SG&A deleverage. These challenges could weigh on PVH’s performance.On its last earnings call, PVH had expected approximately $195 million in gross tariff costs in EBIT, equivalent to an unfavorable impact of about 215 basis points on operating margin, although tariff refunds and mitigation actions are expected to have partly offset the pressure. PVH had expected second-quarter fiscal 2026 revenues to decline 3-4% year over year, with revenues projected to decrease 4-5% on a constant-currency basis. PVH Corp. price-eps-surprise | PVH Corp. Quote Our proven model does not conclusively predict an earnings beat for PVH Corp. this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.PVH Corp. has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they're reported with our Earnings ESP Filter. From a valuation perspective, PVH Corp.’s shares present an attractive opportunity, trading at a discount relative to historical and industry benchmarks. With a forward 12-month price-to-earnings ratio of 6.01X, below the five-year median of 7.73X and the Textile - Apparel industry’s average of 14.99X, the stock offers compelling value for investors seeking exposure to the sector. Image Source: Zacks Investment Research The recent market movements show that PVH’s shares have gained 8.7% in the past six months against the industry's 6.1% decline. Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.Boyd Gaming Corporation BYD currently has an Earnings ESP of +0.43% and a Zacks Rank of 3. BYD is likely to register a top-line decrease when it reports third-quarter 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1 billion, indicating a 0.04% drop from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for BYD’s third-quarter earnings is pegged at $1.74 a share, implying a 1.2% rise from the year-earlier quarter. BYD has a trailing four-quarter average earnings surprise of 5.4%.Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank of 3. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, which implies 12.5% year-over-year growth.The consensus estimate for quarterly revenues is pegged at nearly $3 billion, implying 9.2% year-over-year growth. CTAS has a trailing four-quarter earnings surprise of 1.8%, on average.Carnival CCL currently has an Earnings ESP of +0.32% and a Zacks Rank of 3. CCL is likely to register growth in its top line when it reports third-quarter fiscal 2026 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $8.4 billion, indicating a 2.6% increase from the figure in the year-ago quarter. The consensus estimate for CCL’s earnings is pegged at $1.36 per share, implying a 4.9% drop from the year-ago quarter’s actual. CCL displays a trailing four-quarter earnings surprise of 18.2%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PVH Corp. (PVH) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Norwegian Cruise Line Holdings Ltd. NCLH trades at a steep sales-multiple discount, but the lower valuation arrives as earnings estimates fall and leverage stays high. The key question is whether that discount already compensates investors for the depth and duration of the 2026 commercial reset.Cost reductions and long-term fleet and destination investments offer support. Still, weaker yields, a heavy debt load and soft estimate trends leave limited room for execution errors as the recovery stretches into 2027. NCLH's forward 12-month price-to-sales ratio is 0.78, below its five-year median of 0.87 and well below the Zacks sub-industry's 2.90. The gap leaves the stock looking inexpensive on sales. That discount sits alongside weaker relative share performance. NCLH has declined 27.9% over the past year, while the Zacks sub-industry has gained 1.3% over the same period. Norwegian Cruise Line Holdings Ltd. price-consensus-eps-surprise-chart | Norwegian Cruise Line Holdings Ltd. Quote The Zacks Consensus Estimate for 2026 earnings is $1.50 per share, down from $2.11 in 2025, a 28.9% decline. The 2026 estimate has also fallen 6.8% over the past four weeks. Management expects 2026 constant-currency net yield to decline about 5%. Net yield trends are also expected to remain negative in the first half of 2027, primarily because of the first quarter, before improving sequentially. At June 30, 2026, Norwegian Cruise had $15 billion of debt, $14.8 billion of net debt and $1.5 billion of liquidity. Net leverage stood at 5.3 times and is expected to exceed 6 times by year-end. Debt repayments include $1.106 billion in 2027, $1.341 billion in 2028, $1.365 billion in 2029 and $3.950 billion in 2030. Gross newbuild and growth capital spending is projected at about $2.9 billion in 2026, or $1.4 billion net of financing. Management announced $225 million of annualized savings during the first two quarters of 2026. Run-rate savings exceeded $525 million as of July, reflecting actions across technology vendors, salaries and benefits, selling, general and administrative expenses and capital efficiency. For 2026, adjusted net cruise cost excluding fuel per capacity day is expected to decline about 0.25% on a constant-currency basis. The cost actions support margins, but current guidance indicates they will not fully offset weaker near-term revenue generation. Regent Seven Seas Cruises and Oceania Cruises target higher-spend guests, supporting NCLH's premium mix. The company also has 16 ships on order through 2037 that are expected to add roughly 43,000 berths, while revenue-management upgrades and Great Stirrup Cay investments provide additional demand levers. Cruise peers provide useful demand context. Carnival Corporation CCL reported record second-quarter 2026 revenues of $6.7 billion and constant-currency net yields up 2.2%. Royal Caribbean Group RCL reported $4.8 billion of second-quarter revenues and raised its 2026 adjusted EPS guidance to $17.73 to $17.87. The bottom line is that NCLH's low sales multiple offers a value case, but the 2026 earnings reset and elevated leverage leave less cushion if the commercial recovery takes longer than planned. The setup favors patience rather than treating the discount alone as a buy signal. NCLH currently carries a Zacks Rank #5 (Strong Sell), reflecting unfavorable earnings estimate revision trends over the short term. Its Value Score of A highlights valuation appeal, but the Growth Score of D, Momentum Score of C and VGM Score of C keep the broader profile mixed. Under the Zacks framework, Style Scores complement the Zacks Rank rather than override it. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Royal Caribbean Cruises Ltd. RCL has a stronger earnings outlook, healthy demand and clear momentum in bookings. Those factors support the bullish side of the stock’s investment case.The issue is valuation. RCL already reflects much of that strength, while debt, capital spending and regional disruption keep the risk-reward profile balanced. Royal Caribbean now expects adjusted earnings per share of $17.73-$17.87 for 2026. That implies expected year-over-year growth of 14%, supported by stronger second-quarter performance and a better outlook for the balance of the year. Royal Caribbean Cruises Ltd. price-consensus-chart | Royal Caribbean Cruises Ltd. Quote Revenues are expected to grow 9% in 2026. Capacity is projected to increase 6.6%, while constant-currency net yields are expected to rise 1.75-2.25%. Second-quarter adjusted earnings were $4.21 per share, beating the Zacks Consensus Estimate by 6.1%. Revenues of $4.83 billion topped expectations by 0.5%.Close-in demand was better than expected, particularly in the Caribbean. Lower-than-expected costs and favorable joint-venture performance also helped the company exceed guidance. RCL trades at 4.23X forward 12-month sales, above the Zacks sub-industry’s 2.74X. That premium leaves less room for disappointment.The $339 price target is based on a 4.44X forward sales multiple. Against the reported share price of $322.50, that points to only moderate upside.Carnival Corporation Ltd. CCL and Norwegian Cruise Line Holdings Ltd. NCLH remain useful peer references for investors comparing cruise demand, fuel exposure and balance-sheet repair across the industry. RCL’s premium multiple suggests investors are already assigning it credit for stronger execution. The second quarter was not clean across every line item. Net income attributable to Royal Caribbean fell 6.8% year over year, adjusted net income declined 6% and adjusted EBITDA slipped 1.1%.Adjusted EBITDA margin contracted to 37.9% from 40.8%. Payroll and fuel expenses increased, and 2026 capital expenditures are expected to be approximately $4.7 billion, keeping the business capital intensive. Royal Caribbean ended the second quarter with total debt of $23.4 billion. Scheduled debt maturities include $2.7 billion in 2027 and $3.4 billion in 2028.The company also had approximately $12.8 billion of remaining contractual ship purchase obligations. These commitments are balanced by $6.9 billion of liquidity, improving operating cash flow and leverage below three times. The bottom line is that RCL looks like a stronger company than a straightforward bargain. Earnings expectations are rising, demand remains durable and the stock has momentum, but valuation and execution risks argue against aggressive buying at current levels.The stock currently carries a Zacks Rank #3 (Hold). That rank fits a mixed setup where positive estimate activity and business momentum are offset by premium valuation and sizable financial commitments.RCL has a Momentum Score of A and a VGM Score of B, reflecting favorable price strength and a balanced overall style profile. Its Value Score of C and Growth Score of C temper the bullish case, suggesting investors may be better served by patience than chasing the stock after its run.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Norwegian Cruise Line Holdings Ltd. NCLH is scheduled to report second-quarter 2026 results on July 30, before the opening bell. In the last reported quarter, the company registered an earnings surprise of 53.3%. The Zacks Consensus Estimate for second-quarter adjusted earnings is pegged at 39 cents per share, indicating a year-over-year decline of 23.5%. In the past 30 days, earnings estimates for the current quarter have been stable. For revenues, the consensus mark is pegged at $2.63 billion, implying a 4.4% year-over-year increase. Our proven model predicts an earnings beat for Norwegian Cruise this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is exactly the case here.Earnings ESP: Norwegian Cruise has an Earnings ESP of +2.72%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.Zacks Rank: The company carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. Norwegian Cruise Line Holdings Ltd. price-eps-surprise | Norwegian Cruise Line Holdings Ltd. Quote Norwegian Cruise Line's top line in the second quarter of 2026 is likely to have benefited from sustained demand for its premium cruise offerings and the overall resilience of the cruise industry. Management highlighted that cruise vacations continue to attract both repeat and first-time travelers, supported by healthy industry fundamentals and record passenger volumes. The company also emphasized the strength of its luxury brands, Regent Seven Seas Cruises and Oceania Cruises, which continued to perform in line with expectations despite broader market challenges. These premium brands are likely to have supported revenues through stronger pricing and a more resilient customer base.Another contributor to revenue is expected to have been the continued expansion of the fleet and investments in guest experiences. Capacity days are projected to have increased as the company takes delivery of new ships, providing additional opportunities to generate ticket and onboard revenues. The recently christened Norwegian Luna and enhancements at Great Stirrup Cay, including the upcoming Great Tides Waterpark, are expected to have improved the vacation experience and strengthened the appeal of Caribbean itineraries. Management also noted that guest satisfaction at the private island has improved significantly following the first phase of upgrades, while higher onboard spending trends indicate guests continue to spend once aboard. These factors are likely to have supported overall revenue generation.NCLH's top line might also have received support from initiatives aimed at strengthening commercial execution. The company has rolled out the first phase of a new revenue management system, has been rebuilding its marketing organization and has begun promoting its upgraded private island more aggressively to stimulate demand. In addition, management expects the opening of the Great Tides Waterpark to enhance itinerary attractiveness and improve booking momentum over time. While these initiatives are still in the early stages, they are intended to improve occupancy, pricing and revenue performance as the year progresses.For the quarter under review, our model predicts Passenger Ticket and Onboard and Other revenues to increase 2.9% and 7.6% to $1,663.8 million and $869.6 million, respectively, on a year-over-year basis. Our model predicts the number of passengers carried in the second quarter of 2026 to increase 18.9% year over year. NCLH's bottom line in the second quarter is likely to have faced pressure from higher operating expenses stemming from external disruptions. Management cited the Middle East conflict as a source of increased fuel costs, higher crew transportation expenses and elevated logistics costs. At the same time, softer booking trends in Europe and weaker close-in demand limited revenue growth, reducing the company's ability to absorb these higher costs. Although cost-saving initiatives helped offset part of the pressure, the combination of elevated fuel expenses and war-related operating costs is likely to have weighed on profitability during the quarter. NCLH’s shares have declined 18.9% in the past year, underperforming the Zacks Leisure and Recreation Services industry and the S&P 500. The stock has also underperformed other major industry players like Carnival Corporation & plc CCL, Royal Caribbean Cruises Ltd. RCL and OneSpaWorld Holdings Limited OSW in the same time frame. Image Source: Zacks Investment Research From a valuation perspective, NCLH is trading relatively cheaply. The company has a forward 12-month price-to-earnings of 10.25X, below the industry average. Image Source: Zacks Investment Research Despite favorable long-term industry fundamentals and Norwegian Cruise's ongoing investments in fleet expansion, destination enhancements and commercial initiatives, investors may be better off holding the stock rather than buying ahead of the second-quarter earnings release. The company continues to face near-term execution challenges, particularly in rebuilding its marketing and revenue management capabilities, while demand softness in key European markets and higher fuel and operating costs could weigh on quarterly profitability. Although the stock trades at an attractive valuation and the company has been making progress on cost-control efforts, many of the expected operational improvements are likely to take time to translate into stronger financial performance. Given the uncertainty surrounding the upcoming results and management's turnaround efforts, existing investors should consider holding the stock, while prospective investors may prefer to wait for greater clarity after the earnings announcement before initiating new positions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report OneSpaWorld Holdings Limited (OSW) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Royal Caribbean Cruises Ltd. RCL is scheduled to release second-quarter 2026 results on July 28. The Zacks Consensus Estimate for RCL’s second-quarter earnings per share (EPS) is pegged at $3.97, down 9.4% from the year-ago quarter. The consensus mark for earnings has decreased in the past seven days. The consensus mark for second-quarter revenues is pegged at $4.81 billion, indicating growth of 6% from the year-ago quarter’s reported figure. Royal Caribbean has an impressive earnings surprise history. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 5.1%. Our proven model predicts an earnings beat for Royal Caribbean for the quarter to be reported. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) for this to happen. This is exactly the case here. Earnings ESP: RCL has an Earnings ESP of +0.70%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. Royal Caribbean Cruises Ltd. price-eps-surprise | Royal Caribbean Cruises Ltd. Quote Royal Caribbean’s second-quarter top line is likely to have been driven by sustained demand for cruise vacations, backed by another record Wave booking season and consumers’ continued preference for travel experiences. Strong booking volumes across its portfolio, onboard spending that remained above prior-year levels and a healthy booking position at record pricing are expected to have supported revenue growth. The company also delivered more than 2.5 million vacations during the quarter, while strong guest satisfaction is likely to have reinforced its pricing power. Higher passenger volumes and favorable pricing trends might have further boosted revenue performance. Management expects a 12% year-over-year increase in vacations delivered, supported by a rise in repeat cruisers and younger travelers, particularly millennials. Net yields are expected to grow 2%, surpassing guidance, reflecting strength across key itineraries and improved gross margins. Increased pre-cruise bookings and higher guest spending per night are also likely to have contributed to the top line. The company’s expanding digital capabilities and loyalty initiatives are also expected to have aided revenue growth. Digital bookings have more than doubled since 2019, with mobile app adoption exceeding 90%, encouraging guests to book experiences before boarding. Cross-brand bookings continued to increase following loyalty enhancements, while repeat customers accounted for a larger share of guests and typically spent more than first-time cruisers. Strong demand for Icon-class ships and new destination experiences is also likely to have supported revenues. Royal Caribbean’s bottom line is likely to have faced pressure from elevated fuel costs linked to geopolitical tensions. Higher crew travel expenses caused by air travel disruptions, dry dock-related costs, lower earnings contributions from TUI Cruises and softer demand for select Mediterranean and West Coast Mexico itineraries might also have weighed on profitability, despite continued cost discipline. Royal Caribbean’s shares have gained 9.5% in the past three months, outperforming the Zacks Leisure and Recreation Services industry and the S&P 500, as shown in the chart below. Image Source: Zacks Investment Research The company’s peers, including OneSpaWorld Holdings Limited OSW, Norwegian Cruise Line Holdings Ltd. NCLH and Carnival Corporation Ltd. CCL, gained 8.2%, 2.9% and declined 5.6%, respectively, in the same time period. From a valuation perspective, RCL stock is currently trading at a discount. It is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 15.15, below the industry average of 16.17. Image Source: Zacks Investment Research Other industry players, such as Carnival, OneSpaWorld Holdings and Norwegian Cruise, have a P/E of 10.27, 20.55 and 9.83, respectively. Royal Caribbean continues to benefit from resilient travel demand, premium vacation offerings, healthy onboard spending and successful digital and loyalty initiatives, all of which support its long-term growth outlook. The stock also trades at a reasonable valuation relative to the industry, making its longer-term prospects attractive. However, near-term profitability may remain under pressure from higher fuel costs, elevated operating expenses and lingering geopolitical disruptions affecting certain itineraries. With the stock already outperforming the broader market and earnings expectations appearing largely reflected in the share price, investors may be better served by holding the stock ahead of the upcoming results rather than adding fresh positions. Waiting for management's commentary on booking trends, margins and the outlook for the remainder of the year could provide a more favorable entry point. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Carnival Corporation (CCL) : Free Stock Analysis Report Norwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report OneSpaWorld Holdings Limited (OSW) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Carnival (CCL). Shares have lost about 9.7% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Carnival due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Carnival Corporation before we dive into how investors and analysts have reacted as of late. Carnival reported better-than-expected second-quarter fiscal 2026 (ended May 31) results, with both adjusted earnings and revenues surpassing the Zacks Consensus Estimate. The top and bottom lines also increased on a year-over-year basis.Carnival posted its twelfth consecutive quarter of record net yields and exceeded the March guidance by $100 million, driven by strong commercial execution and improved cost efficiency despite nearly 30% higher fuel costs. Management noted that recent booking trends are beginning to improve, indicating a gradual easing of geopolitical headwinds and reinforcing confidence in demand, pricing and the company's long-term earnings potential. In the quarter under review, the company reported adjusted earnings per share (EPS) of 41 cents, beating the Zacks Consensus Estimate of 35 cents. In the year-ago quarter, CCL posted an adjusted EPS of 35 cents.Revenues in the quarter totaled $6.66 billion, beating the consensus mark of $6.64 billion. The metric also increased 5.3% year over year.During the quarter, passenger ticket revenues amounted to $4.27 billion, up from $4.10 billion reported in the prior-year quarter. Our estimate for passenger ticket revenues was also pegged at $4.23 billion.Onboard and other revenues increased to $2.39 billion from $2.22 billion reported in the year-ago quarter. Our estimate for Onboard and other revenues was pegged at $2.38 billion. Adjusted net income in the quarter amounted to $569 million compared with $470 million reported in the prior-year quarter. Adjusted EBITDA totaled $1.58 billion, up from $1.51 billion reported in the prior-year quarter. As of May 31, 2026, cash and cash equivalents were $2.24 billion compared with $1.93 billion as of Nov. 30, 2025. Total debt (current and long-term) as of May 31, 2026, was $24.89 billion compared with $26.64 billion as of Nov. 30, 2025. The company delivered another exceptionally strong booking performance, with its booked position for the second half of 2026 running ahead of last year at historically high prices on a constant-currency basis. This strength was achieved despite more than a full quarter of heightened geopolitical volatility that primarily affected booking trends for European deployments, particularly in the Mediterranean region. Management maintained pricing discipline by leveraging its occupancy advantage, supporting continued yield strength.With 93% of 2026 capacity already booked and less inventory remaining for sale than at the same point last year, Carnival is well positioned to achieve record net yields in the back half of 2026. Demand for 2027 and beyond also remains robust, with booking volumes and pricing for future sailings running ahead of prior-year levels since March, including a significant increase in bookings for European itineraries.The company's booking curve remains the furthest out on record, underscoring the strength of its portfolio of cruise brands and sustained demand generation efforts. Continued demand momentum was also reflected in higher fiscal second-quarter onboard revenues, increased pre-cruise onboard sales and strong customer engagement, providing enhanced revenue visibility.Customer deposits reached an all-time high of $9.0 billion, surpassing the prior year's record by more than $450 million despite flat capacity growth over the next 12 months. The record deposit balance highlights the continued strength in consumer demand and further reinforces Carnival's strong cash flow profile. For third-quarter fiscal 2026, the company expects adjusted EBITDA to be approximately $2.88 billion. It expects fiscal third-quarter adjusted net income to be nearly $1.86 billion. The company expects fiscal third-quarter adjusted EPS to be $1.35.For fiscal 2026, CCL now expects adjusted EBITDA of approximately $7.11 billion, down from its prior estimate of $7.19 billion. Adjusted net income is projected to be nearly $3.07 billion compared with the earlier expectation of $3.1 billion. Accordingly, adjusted EPS for the year is anticipated to be $2.22, revised up from the previous outlook of $2.21. It turns out, fresh estimates have trended downward during the past month. Currently, Carnival has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a score of A on the value side, putting it in the top 20% for value investors. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Carnival has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carnival Corporation (CCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The cruise industry has largely completed its post-pandemic recovery. Occupancy rates have returned to historical levels, pricing remains healthy, and consumers continue spending on travel despite broader economic uncertainty. With Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line (NYSE: NCLH) all reporting earnings over the next two weeks, we'll soon get another update on booking trends and profitability. But if I had to choose just one stock today, it would be Royal Caribbean. Here's why. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Among the three largest cruise operators, Royal Caribbean has consistently produced the strongest financial results. During the first quarter of 2026, Royal Caribbean generated approximately $4.54 billion in revenue, while adjusted earnings per share increased to $3.60. The company continues to outperform on profitability, as well. Higher ticket prices, increased onboard spending, and disciplined cost management helped Royal Caribbean generate some of the strongest margins in the leisure travel industry. Management noted that onboard purchases and pre-cruise spending remained above prior-year levels, while customer demand continued to be supported by travelers prioritizing experiences over other discretionary spending. But perhaps most encouraging is what the company sees in future demand. Royal Caribbean says booking volumes accelerated since its last earnings report, and travelers continue reserving cruises at higher prices. Carnival's latest earnings report showed that the company's turnaround continues to gain momentum. During the second quarter, Carnival reported record operating income and record adjusted net income, while customer deposits climbed to an all-time high of $9 billion. Management also said booking volumes remain strong, with reservations for 2027 and beyond ahead of last year's pace despite a more uncertain economic backdrop. The company also made meaningful progress in strengthening its balance sheet. Since the beginning of 2024, management repaid more than $7 billion of debt, reducing interest expenses and improving financial flexibility. Still, Carnival ended the quarter with approximately $23.4 billion of long-term debt, considerably more than Royal Caribbean. Of course, that doesn't make Carnival a bad investment. It simply means shareholders are relying on management to continue paying down debt while maintaining strong pricing and occupancy in an increasingly competitive travel market. Norwegian Cruise Line is in a similar position. The company focused heavily on premium itineraries and expanding onboard spending opportunities while modernizing its fleet. Occupancy has largely recovered, too. Like Carnival, however, Norwegian still operates with a leveraged balance sheet, carrying approximately $15.2 billion of total debt. While that's less than Royal Caribbean's, Norwegian generates substantially less revenue, earnings before interest, taxes, depreciation, and amortization (EBITDA), and operating cash flow, leaving it with less room for error if travel demand softens. The encouraging news for all three companies is the industry backdrop continues to improve. According to the Cruise Lines International Association, global cruise passenger volume is expected to exceed 38 million travelers in 2026, establishing another industry record. Cruise vacations continue attracting both first-time and repeat passengers, while demand remained strong enough to support higher ticket prices across much of the industry. Cruise operators are also generating more revenue beyond ticket sales. For example, Royal Caribbean noted onboard spending and pre-cruise purchases continue to run ahead of prior years, while Carnival also cited stronger onboard spending as a contributor to higher yields. All three companies should benefit if cruise demand remains healthy. But Royal Caribbean enters earnings season with the strongest combination of premium brands, record bookings, industry-leading profitability, and a healthier balance sheet than its largest competitors. And that's why I maintain that Royal Caribbean is the best buy of the three. Before you buy stock in Royal Caribbean Cruises, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Royal Caribbean Cruises wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $371,842!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,244,783!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of July 19, 2026. Jeff Siegel has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. The Motley Fool has a disclosure policy. Carnival Reported Earnings on June 23, Royal Caribbean Is Next on July 28, Then Norwegian Cruise Line on July 30. Here's My Top Buy of the Bunch. was originally published by The Motley Fool

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Carnival stock has pulled back recently, yet the broader valuation checks still lean cheap, which sits uneasily alongside a mixed news flow that highlights both strong booking trends and rising cost and demand concerns. Over the past 3 years, Carnival has delivered a 42.2% gain, which suggests the recovery story is already partly reflected in the share price. Record booking visibility and higher pricing can support investors' expectations for future earnings, while pressure from fuel costs, softer pockets of demand and geopolitical disruptions may cap how much value the market is willing to ascribe. On Simply Wall St's broader checks, Carnival screens as undervalued in 6 of 6 areas, pointing to a stock that still looks inexpensive on several common valuation measures. The issue now is whether Carnival's recent share price decline and high value score together point to a genuine valuation opportunity or simply reflect the risks that recent news has brought back into focus. Find out why Carnival's -10.1% return over the last year is lagging behind its peers. The P/E ratio suits Carnival because earnings are now a key reference point again after the recovery phase. Carnival trades on a P/E of 11.4x, which is well below both the Hospitality industry average of 23.8x and the peer average of 20.0x. On Simply Wall St’s model, a more tailored fair P/E for Carnival that factors in its profile and risks is 26.8x, which is more than double where the stock currently sits. Despite recent concerns around softer demand pockets, higher fuel costs and geopolitical risks, Carnival’s current multiple still prices the stock at a sizeable discount to both sector norms and that fair P/E yardstick. For investors, that gap suggests the market is pricing in a fair amount of caution around the recent news flow, while the valuation signal on earnings remains supportive. On the P/E multiple alone, Carnival stock appears undervalued compared with both its fair ratio and the wider Hospitality industry. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for Carnival pick up where this valuation puzzle leaves off by spelling out what would need to happen to Carnival's growth, margins and earnings for the stock to be worth materially more or less than it is today, and they sit on the company’s Community page. Each narrative links its number to a clear view on how Carnival's growth, profitability and risk profile could develop, giving you something concrete to revisit as fresh information comes through. One of the top community narratives on Carnival: 28% undervalued Read one of the top narratives on Carnival Do you think there's more to the story for Carnival? Head over to our Community to see what others are saying! Carnival still screens as undervalued on market multiples, with a P/E that sits well below both sector averages and the tailored fair ratio implied by Simply Wall St’s checks. For you as an investor, the question is whether that discount reflects temporary caution around fuel costs, patchy demand and geopolitical risks, or a more persistent concern that keeps the multiple subdued. The crux of the bull versus bear debate is whether Carnival can sustain solid booking trends and protect margins enough for the market to reassess the risk and narrow that gap, rather than the discount becoming a long term value trap. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include CCL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Net Income: $569 million, more than 20% higher than the prior year. Customer Deposits: Reached an all-time high of $9 billion. Yields: Exceeded expectations with a 12th consecutive quarter of record yields. Fuel Efficiency: Improved by more than 5% year-over-year. Revenue: Outperformed March guidance by $100 million. Cost Management: Flat unit operating costs, outperforming cost guidance by 2.5 points. Share Buyback: Repurchased over 17 million shares for over $450 million. Net Debt to Adjusted EBITDA Ratio: Improved to 3.1 times at the end of the second quarter. EBITDA Forecast: Over $7 billion expected for the year. Warning! GuruFocus has detected 5 Warning Sign with CCL. Is CCL fairly valued? Test your thesis with our free DCF calculator. Release Date: June 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Carnival Corporation Ltd (NYSE:CCL) delivered another record quarter with all-time highs in revenues, yields, EBITDA, net income, and customer deposits. The company outperformed its March guidance by $100 million, driven by strong commercial execution and cost efficiency efforts. Yields exceeded expectations due to resilient close-in demand and robust onboard spending, marking the 12th consecutive quarter of record yields. Carnival Corporation Ltd (NYSE:CCL) achieved significant fuel efficiency improvements, building on last year's gains. The company has a strong booking position for 2027, with volumes and pricing running ahead of last year's levels, indicating confidence in long-term demand. The prolonged conflict in the Middle East impacted European deployments, particularly in the Mediterranean region, affecting the company's trajectory. Elevated airfares and reduced international flight capacity for North American guests further exacerbated the situation. The company had to revise its full-year yield growth guidance due to geopolitical volatility, resulting in a 100-basis-point cut. Occupancy expectations for European deployments were adjusted downward, impacting onboard spending profiles. Despite strong results, the company acknowledges that near-term disruptions can affect the timing of results, especially when external shocks persist. Q: As we look at the shape of the yield growth for the balance of the year, it seems Q4 implies a slightly lower number than Q3. Is there a reason for this? A: Josh Weinstein, CEO: When you normalize for the CCL loyalty program, which is all in Q4, we're actually closer to 2%. So I don't think that's the normalized pattern at the end of the day. Q: Regarding the 100-basis-point cut to yields, is this directly tied to the Middle East conflict, or are there other factors? A: Josh Weinstein, CEO: The conflict in the Middle East impacted our European deployments significantly. We did not expect the conflict to last throughout the whole of our second quarter. The Med region was most affected, and while we did see some recovery, the ongoing news flow and geopolitical volatility continued to impact demand. Q: Can you provide more insight into the demand for the Med from North American travelers versus European source customers? A: Josh Weinstein, CEO: Both our Europe segment and our North America segment for our Europe deployment were ahead in occupancy overall. However, the occupancy advantage unwound more for our North American brands due to the longer-haul nature of their travel decisions. Q: Could you elaborate on the modernization effort and the expected yield uplift or ROI? A: Josh Weinstein, CEO: The modernization programs focus on guest-facing public areas, cabin work, and new venues for F&B experiences. We expect to achieve at least high-teens ROI for these refurbishments, with new cabins paying for themselves in a couple of years. Q: How are you thinking about future phases of land development at Celebration Key? A: Josh Weinstein, CEO: While we have plans for land-side expansion, it's still early to discuss specifics. Currently, Celebration Key is integrated into almost all Caribbean capacity for Carnival, and feedback has been strong. We are focused on enhancing the guest experience and maximizing the destination's potential. For the complete transcript of the earnings call, please refer to the full earnings call transcript.