RCL

It has been about a month since the last earnings report for Royal Caribbean (RCL). Shares have lost about 10.4% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Royal Caribbean due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Royal Caribbean reported second-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top line increased, but the bottom line declined on a year-over-year basis.The company reported second-quarter 2026 adjusted earnings of $4.21 per share, which surpassed the Zacks Consensus Estimate of $3.97 by 6.1%. However, adjusted earnings declined 3.9% from $4.38 in the year-ago quarter.Revenues totaled $4.83 billion, beating the consensus mark of $4.81 billion by 0.5%. The top line increased 6.5% year over year. Results benefited from strong close-in demand, lower-than-expected costs and favorable joint-venture performance. Occupancy remained healthy at 110.2%. Royal Caribbean’s demand commentary remained constructive. Booking volumes were above year-ago levels, while the company remained booked at record prices. Load factors also stayed robust across its vacation portfolio.Net yields increased 1.9% on an as-reported basis and 1.2% in constant currency. The metric exceeded management’s guidance, primarily reflecting better-than-expected close-in demand. Capacity increased 4.9% year over year, while the number of passengers carried rose 6.4% to nearly 2.4 million. The second-quarter top line advanced on strength across the two primary revenue streams. Passenger ticket revenues increased 4.5% year over year to $3.34 billion from $3.20 billion. The increase reflected capacity growth, healthy pricing and continued demand for the company’s differentiated cruise experiences. Our model projected second-quarter passenger ticket revenues to be $3.34 billion.Onboard and other revenues rose 11.1% to $1.49 billion from $1.34 billion in the prior-year quarter. Management highlighted strong guest engagement and demand for onboard and destination experiences. Product enhancements and more targeted pre-cruise engagement also supported guest spending. Our model projected second-quarter onboard & other revenues to be $1.48 billion. Operating income declined 1.7% year over year to $1.31 billion from $1.33 billion, as operating expense growth exceeded the increase in revenues. Net income attributable to Royal Caribbean decreased 6.8% to $1.13 billion from $1.21 billion.Adjusted net income fell 6% to $1.13 billion from $1.20 billion. Adjusted EBITDA declined 1.1% to $1.83 billion from $1.85 billion. Adjusted EBITDA margin contracted to 37.9% from 40.8% in the prior-year quarter. Total cruise operating expenses increased 11.6% year over year to $2.55 billion. Payroll and related expenses climbed 23.1% to $405 million, while fuel costs increased 27.2% to $355 million.Food expenses rose 6.5% to $262 million, while other operating expenses increased 9.6% to $615 million. Marketing, selling and administrative expenses were $513 million compared with $508 million a year ago. Net cruise costs excluding fuel per available passenger cruise day increased 4.4% as reported and 3.9% in constant currency. For the first six months of 2026, net cash provided by operating activities increased 9.5% year over year to $3.69 billion.During the second quarter, Royal Caribbean returned more than $600 million to its shareholders. This included $199 million of share repurchases and $404 million of dividend payments. The company had $805 million remaining under its current repurchase authorization.As of June 30, 2026, cash and cash equivalents were $875 million compared with $825 million at the end of 2025. Total liquidity was $6.9 billion, including available capacity under the company’s revolving credit facilities. For the third quarter of 2026, Royal Caribbean expects adjusted earnings of $6.26-$6.36 per share. Total revenues are projected to increase 8%, while net yields are expected to remain approximately flat on both an as-reported and constant-currency basis.The company raised its full-year adjusted earnings guidance to $17.73-$17.87 per share from the prior projection of $17.10-$17.50. The updated range represents expected growth of 14% year over year.Royal Caribbean expects 2026 revenues to rise 9%. Net yields are projected to increase 2.35%-2.85% as reported and 1.75%-2.25% in constant currency. Capacity is expected to grow 6.6%, while capital expenditures are anticipated to be approximately $4.7 billion. In the past month, investors have witnessed a upward trend in estimates revision. At this time, Royal Caribbean has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Royal Caribbean 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 Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Royal Caribbean Cruises (RCL) shares came under pressure after the company reported second quarter 2026 results that beat revenue expectations but showed a 3.9% decline in adjusted earnings and a 5.3% post results stock pullback. See our latest analysis for Royal Caribbean Cruises. At a share price of $292.0, Royal Caribbean Cruises has seen mixed momentum, with a 14.02% 90 day share price return and a 3.09% year to date share price return. However, the 1 year total shareholder return declined 13.83% after recent earnings and debt issuance news. If you are thinking beyond cruise operators and want more ideas tied to infrastructure and travel demand, it could be worth scanning 39 power grid technology and infrastructure stocks Royal Caribbean Cruises is delivering solid revenue growth and still saw its stock fall after the latest quarter and debt deal. The business looks strong. The bigger issue is what you are paying for it today. Royal Caribbean Cruises is trading at $292.0 compared with a most widely followed fair value estimate of $336.31, which helps explain the current debate around the stock. Read the complete narrative. Read the complete narrative. Want to see what kind of revenue trajectory and margin profile support that fair value gap. The narrative leans on rising earnings power and a lower future P/E than many peers. Curious how those moving parts combine into a single number. The most widely followed narrative uses a discount rate of 9.08% and ties that to expectations for steady revenue expansion, improving profit margins, and strong cash generation from a largely fixed fleet base. It also embeds assumptions about how much pricing power Royal Caribbean Cruises can retain as new capacity comes on and how efficiently that capital is converted into earnings. Result: Fair Value of $336.31 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Royal Caribbean Cruises still faces meaningful risks, including political hurdles around the Perfect Day Mexico project and any renewed consumer pullback in discretionary travel spending. Find out about the key risks to this Royal Caribbean Cruises narrative. Given the mix of optimism and concern around Royal Caribbean Cruises, it makes sense to look at the full picture yourself and move quickly while the details are fresh. A useful place to start is by getting a clear view of both the upside and the downside through 4 key rewards and 3 important warning signs. Do not stop with a single company. Use the Simply Wall St Screener to surface fresh ideas that match your goals and keep your watchlist working harder. Target income first and hunt for companies with robust payout profiles through the 12 dividend fortresses. Zero in on quality at a reasonable price by scanning the screener containing 19 high quality undiscovered gems. Dial down portfolio risk and focus on resilience with the 78 resilient stocks with low risk scores. 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 RCL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Royal Caribbean Cruises recently reported its second-quarter 2026 results, with revenue and adjusted earnings ahead of analyst estimates, while also completing a US$1.25 billion senior unsecured notes offering at 5.550% due 2034 to refinance existing debt. Despite the solid operational performance and higher full-year EPS guidance, investors appeared cautious about the year-over-year dip in adjusted earnings and the implications of fresh long-term borrowing on the company’s balance sheet. We’ll now examine how the earnings beat alongside new US$1.25 billion debt refinancing could reshape Royal Caribbean’s investment narrative. We've uncovered the 12 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. To own Royal Caribbean Cruises, you need to believe cruising can keep attracting discretionary vacation spend while the company manages a high-debt balance sheet. The latest Q2 beat and higher full-year EPS guidance support that demand side, but the 3.9% year-over-year dip in adjusted earnings keeps cost pressures in focus. The new US$1.25 billion notes slightly tilt the near-term balance of risks toward leverage rather than operations, without fundamentally changing the core demand-driven thesis. The most relevant recent move is the US$1.25 billion senior unsecured notes offering at 5.550% due 2034, used to refinance floating-rate and other existing borrowings. This matters because it directly affects one of the key near-term catalysts and risks: Royal Caribbean’s ability to sustain earnings growth while gradually reducing financing costs and managing a large debt load, especially as investors watch how interest expense and free cash flow evolve after a solid, but not flawless, quarter. But even with strong bookings and earnings guidance, the combination of high leverage and new long-term debt is something investors should be very aware of as... Read the full narrative on Royal Caribbean Cruises (it's free!) Royal Caribbean Cruises' narrative projects $23.4 billion revenue and $6.0 billion earnings by 2029. This requires 8.4% yearly revenue growth and about a $1.5 billion earnings increase from $4.5 billion today. Uncover how Royal Caribbean Cruises' forecasts yield a $336.31 fair value, a 15% upside to its current price. Some of the most optimistic analysts already expected earnings to reach about US$6.7 billion by 2029, yet Q2’s earnings dip and fresh long term borrowing could prompt you to rethink whether those assumptions still hold or whether the higher costs and balance sheet risks might argue for a more cautious view. Explore 7 other fair value estimates on Royal Caribbean Cruises - why the stock might be worth just $278.55! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Royal Caribbean Cruises research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision. Our free Royal Caribbean Cruises research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Royal Caribbean Cruises' overall financial health at a glance. Don't miss your shot at the next 10-bagger. Our latest stock picks just dropped: Outshine the giants: these 16 early-stage AI stocks could fund your retirement. Find 48 companies with promising cash flow potential yet trading below their fair value. Capitalize on the AI infrastructure supercycle with our selection of the 55 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. 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 RCL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Viking Holdings Ltd.? Here are five stocks we like better. Viking Holdings delivered another strong quarter, with revenue, EBITDA and earnings all improving year over year. Strong 2026 and 2027 bookings show demand holding up even as Viking Holdings continues to expand capacity. Viking Holdings still trades at a premium, but its Moderate Buy consensus shows Wall Street remains broadly constructive. Viking Holdings (NYSE: VIK) gave an answer to investors who may have been concerned about its high premium. The results from Q2 2026 suggest that the premium isn’t just warranted; it may even expand. In the immediate aftermath of the report, VIK turned down just over 1%. But that was after the stock spiked over 1.5% when trading opened. That kind of price action usually indicates algorithmic activity, which is likely to smooth over the next few trading sessions. It also means that investors who may have been hoping for a deeper dip in VIK may be disappointed. → Datavault AI Locks Down CyberCatch in $94M Security Rollup Viking's Q2 2026 report was the continuation of a familiar theme. Analysts set a high bar, and Viking climbs over it. In this case, revenue was up 16.5% year-over-year (YOY) to $2.19 billion, while adjusted EBITDA increased 18.2% year-over-year to $748.4 million. Net Yield rose 6.2% to $645, and adjusted earnings per share (EPS) of $1.31 beat the consensus of $1.26. Net Leverage stood at 1.2x as of June 30, 2026, and the company continued adding to its fleet even as it worked through a heavy capital-spending cycle. CEO Leah Talactac credited the quarter to the continued execution of Viking's long-term strategy and the strength of the Viking brand, while CFO Linh Banh pointed to the 2027 booking position as reinforcing confidence in the company's growth trajectory. → Tesla's Cybercab Launch Could Reshape Margins for Uber and Lyft The strength of this report went beyond the headline numbers. Viking announced that as of Aug. 9, it had sold 96% of capacity passenger cruise days for its core products for the 2026 season. Advanced bookings for 2026 were $6.39 billion, a 13% year-over-year increase. Advanced bookings per passenger cruise day in 2026 were $833, up 6% YOY. But this isn’t just a 2026 story. Management also reported that it had sold 53% of its capacity passenger cruise days for 2027. Advanced bookings for 2027 are at $4.71 billion, up 21% compared to the same point in 2026. Advanced bookings per passenger cruise day for 2027 are at $958, up 10% YOY. → The Pre-IPO Playbook: How to Cash in on Anthropic Before the Bell For its part, Viking is increasing operating capacity to meet that demand. Operating capacity in 2026 is 7% higher YOY. The company plans to increase that figure by an additional 15% in 2027. None of this suggests that the company’s core consumer is anxious about travel. That’s not surprising. Viking caters to an older, more affluent traveler. In colloquial terms, these consumers live in the upper leg of the K-shaped economy. Even with evidence that many of these consumers are turning to Walmart (NASDAQ: WMT) for their discretionary purchases, that’s not impacting their desire to travel. According to Yardeni Research, the average forward price-to-earnings (P/E) ratio of a company in the Hotels, Resorts, and Cruise Line sector is 19.4x. The average of the S&P 500 currently sits around 29.65x. That’s the context for understanding Viking’s forward P/E, which was 29.74x following the earnings report. That means VIK is on par with the broader market, and at a premium to its sector. However, the same could be said of a company like Marriott International (NYSE: MAR), which has a forward P/E of around 31x as of this writing. For investors seeking a more granular comparison, Royal Caribbean Cruises (NYSE: RCL) has a forward P/E of approximately 17x. The takeaway for investors is that VIK trades at a premium. But it’s a premium that seems well deserved when compared to the industry average. VIK has been in a bullish pattern of higher highs and higher lows with support at the 50-day simple moving average. That pattern is being tested as the stock is near the low it reached in mid-July. Should VIK fail to hold that level, it could test an area around $88 or even fall as low as $80. That seems like an overreaction to a solid report. Any booking softness around geopolitical events appears to be reversing and was largely limited to the company’s river cruise business. Analysts were raising their price targets before the report, with Stifel Nicolas issuing a price target of $125 and Wells Fargo raising its price target to $128 from $109. Overall, Viking carries a Moderate Buy consensus rating from 19 analysts, with an average price target of $107.39. Further revisions could follow as analysts digest the latest results. There may be reasons for genuine concern about the economy. But in a market where winners and losers are becoming more easily identified, Viking looks like a company that continues to grow into its valuation. The article "Viking Stock Fell After Earnings, But the Numbers Tell a Different Story" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Viking Holdings Ltd (VIK) reported second-quarter 2026 adjusted earnings of $1.31 per share, up 32.3% from 99 cents a year ago and 4.8% above the Zacks Consensus Estimate of $1.25. Total revenues of $2.19 billion increased 16.5% year over year and beat the consensus mark of $2.13 billion by 3.1%. The top-line gain reflected higher Capacity Passenger Cruise Days (Capacity PCDs) and increased revenue per PCD. Net Yield, which measures adjusted gross margin per passenger cruise day, rose 6.2% to $645. Viking Holdings Ltd. price-consensus-eps-surprise-chart | Viking Holdings Ltd. Quote Capacity PCDs increased 10.9% from the year-ago quarter, mainly reflecting fleet growth. Occupancy was 94.4% compared with 95.6% a year earlier. Viking carried 249,999 passengers, up from 224,643, while passenger cruise days increased to 2.23 million from 2.04 million. Viking defines occupancy as passenger cruise days divided by Capacity PCDs. The company does not allow more than two passengers in a two-berth stateroom, meaning occupancy cannot exceed 100% even when all staterooms are booked. Cruise and land revenues were $2.03 billion compared with $1.76 billion in the prior-year quarter. Onboard and other revenues reached $158.00 million, up from $125.17 million. Gross margin increased 15.7% year over year to $928.79 million. Adjusted gross margin advanced 16.3% to $1.44 billion, reflecting a $202.02 million increase from the year-ago period. The company's six-month operating data also showed higher adjusted gross margins for Viking River and Viking Ocean. Viking River generated $855.53 million, up from $768.43 million, while Viking Ocean produced $1.07 billion compared with $887.55 million a year earlier. Vessel operating expenses increased 17.1% year over year to $442.33 million. Excluding fuel, vessel operating expenses rose 13.9% year over year to $380.92 million. Viking attributed the increases mainly to the larger fleet in 2026 compared with 2025. On a unit basis, vessel operating expenses per Capacity PCD increased to $187 from $177. The measure, excluding fuel, rose to $161 from $157. Fuel expense was $61.41 million compared with $43.14 million in the year-ago quarter. Adjusted EBITDA increased 18.2% year over year to $748.43 million. Net income was $587.70 million, up from $439.24 million, while adjusted net income attributable to Viking increased to $587.44 million from $439.05 million. Operating income reached $643.90 million compared with $545.53 million a year earlier. Selling and administration expenses increased to $268.67 million from $248.29 million, while depreciation and amortization rose to $84.05 million from $65.44 million. For its Core Products, VIK had sold 96% of 2026 Capacity PCDs as of Aug. 9, 2026. Operating capacity for the 2026 season is 7.0%, which is above 2025. Advance Bookings totaled $6.39 billion, which is 13.0% above the comparable 2025 level, while Advance Bookings per PCD increased 6.0% to $833. For 2027, Viking had sold 53% of Capacity PCDs, with operating capacity planned at 15.0%, which is above 2026. Advance Bookings reached $4.71 billion, which is 21.0% higher than the comparable 2026 level, and Advance Bookings per PCD rose 10.0% to $958. As of June 30, 2026, Viking had $3.99 billion in cash and cash equivalents and an undrawn $1.00 billion revolver. Deferred revenues stood at $5.04 billion. Net debt was $2.40 billion, and Net Leverage was 1.2 times. Scheduled principal payments were $116.70 million for the remainder of 2026 and $233.70 million for 2027. Since the first quarter of 2026 earnings release, Viking took delivery of the Viking Mira ocean ship and four river vessels. The company expects one additional ocean ship and five river vessels during the remainder of 2026 and exercised options for two ocean ships scheduled for delivery in 2032. Currently, VIK carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Norwegian Cruise Line Holdings Ltd.NCLH reported second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The top line increased while the bottom line fell from the prior-year quarter figure. Norwegian Cruise reported adjusted earnings per share of 48 cents, beating the Zacks Consensus Estimate of 39 cents by 23.1%. In the prior-year quarter, the company reported adjusted earnings of 51 cents per share. Quarterly revenues of $2.64 billion surpassed the consensus mark of $2.63 billion by 0.5%. The metric increased 4.9% year over year. Royal Caribbean Cruises Ltd.RCL reported second-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top line increased, but the bottom line declined on a year-over-year basis. Post the results, the cruise stock fell 1.2% in the pre-market trading session. The company reported second-quarter 2026 adjusted earnings of $4.21 per share, which surpassed the Zacks Consensus Estimate of $3.97 by 6.1%. However, adjusted earnings declined 3.9% from $4.38 in the year-ago quarter. Revenues totaled $4.83 billion, beating the consensus mark of $4.81 billion by 0.5%. The top line increased 6.5% year over year. Results benefited from strong close-in demand, lower-than-expected costs and favorable joint-venture performance. Occupancy remained healthy at 110.2%. 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 Viking Holdings Ltd. (VIK) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : 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 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

Interested in NACCO Industries, Inc.? Here are five stocks we like better. Strong core operating performance lifted Q2 revenue 6% to $72.3 million and Adjusted EBITDA 72% to $15.9 million, with major gains in utility coal mining, contract mining and minerals and royalties. $12 million in solar-project impairment charges pushed NACCO to a $2.3 million operating loss and a $1 million net loss; management expects full-year operating profit and net income to decline from 2025 and is evaluating asset sales and other measures to limit further costs. Contract mining is positioned for substantial growth as the Palm Beach County project expands to four draglines, while NACCO plans to prioritize cash flow toward debt reduction and liquidity, with up to $35 million of investment planned for the rest of 2026. Royal Caribbean’s Best Quarter Ever Still Leaves a Big Question NACCO Industries (NYSE:NC) reported stronger operating performance across its utility coal mining, contract mining and minerals and royalties businesses in the second quarter of 2026, but solar-project impairment charges drove the company to a consolidated operating loss and net loss for the period. Revenue rose 6% year over year to $72.3 million, while gross profit more than doubled to $15.2 million from $6.8 million. Consolidated Adjusted EBITDA increased 72% to $15.9 million, compared with $9.3 million a year earlier. However, NACCO recorded $12 million in impairment charges tied to two solar development projects within its ReGen Resources business. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Why These 2 Hotel Stocks Are Beating Travel Peers The company posted an operating loss of $2.3 million, compared with an operating loss of less than $100,000 in the prior-year quarter. NACCO reported a net loss of $1 million, or $0.13 per diluted share, versus net income of $3.3 million, or $0.44 per diluted share, in the second quarter of 2025. President and CEO J.C. Butler said the solar impairments followed a reassessment of project economics after the company received updated information on rising costs and delays in connecting generation facilities to the power grid. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High MarketBeat Week in Review – 05/04 - 05/08 Butler cited tax-law changes associated with the One Big Beautiful Bill Act, demand for generating equipment and engineering, procurement and construction services, higher costs for grid-connection equipment, and tariff-related price increases. He said the developments created “a perfect storm” for renewable projects that had been initiated before the law’s enactment. “We are not treating this as business as usual,” Butler said, adding that the company is evaluating alternatives to monetize the investments and limit additional capital needs. Those alternatives include potential asset sales, contract amendments and other strategic actions. He said further curtailment charges could occur depending on the outcomes. → No Hangover: Revisiting Microsoft One Week After Earnings NACCO said the experience reinforced its intention to apply heightened scrutiny to investments outside its established operating platforms. The company expects second-half and full-year operating profit and net income to be lower than in 2025, reflecting the solar charges and the potential for additional curtailment or impairment charges. Utility coal mining operating profit rose to $6.3 million from $1.2 million in the prior-year quarter, while segment Adjusted EBITDA increased to $8.7 million from $3.4 million. Results were driven primarily by improved performance at Mississippi Lignite Mining Company, or MLMC. MLMC faced lower production requirements after operational issues at its customer’s power plant. Butler said the mining operation shifted resources to planned reclamation work during the outage. The move reduced the company’s asset retirement obligation rather than recording those costs as an expense in the quarter. Management said it remains engaged with the customer regarding delayed payments disclosed in NACCO’s 10-Q. Butler said the company is focused on collecting amounts owed, preserving its contractual rights and evaluating available options under the contract, which has been in place since 1995 and runs through 2032. For the full year, NACCO expects utility coal mining operating profit to increase from 2025 because of its strong first-half performance. Still, it expects MLMC results in the second half to decline from the first half amid lower customer demand, higher diesel costs and an anticipated inventory impairment charge. Earnings from unconsolidated mining operations are also expected to decline following the planned completion of reclamation services at Sibanye Mining Company on Sept. 30, 2026. Contract mining delivered substantial year-over-year gains as NACCO began and ramped up its Palm Beach County Dragline Services contract and served higher customer requirements at its limestone mining operations. Segment operating profit increased to $3.8 million from $1 million, while Adjusted EBITDA rose to $6.3 million from $3.9 million. Revenue, net of reimbursed costs, increased 34%. The company expects substantial growth in contract mining operating profit and Adjusted EBITDA for both the second half and full year, although second-half results are expected to moderate from the first half because of lower anticipated customer demand. NACCO is also preparing to begin operations at a new limestone quarry in Arizona later this year. Butler said the Palm Beach County project is expanding to four draglines, with two already operating, a third being commissioned and a fourth expected to begin later in 2026. He described the project as an opportunity to apply NACCO’s mining capabilities to infrastructure work related to Lake Okeechobee and the Everglades. In minerals and royalties, operating profit increased to $6.7 million from $5.2 million, while Adjusted EBITDA rose to $7.7 million from $6.1 million. Royalty revenue increased 46%, supported by higher oil prices and a favorable adjustment to prior-period pricing estimates. Lower earnings from NACCO’s Eiger investment partly offset those gains. Management expects the segment’s results to decline in the remainder of 2026 compared with the first half, the second half of 2025 and full-year 2025. Increased Eiger income and higher oil prices are expected to be more than offset by production declines and changes in production and development activity. As of June 30, NACCO had $120.1 million in outstanding debt and total liquidity of $114.6 million, including $45.5 million of cash and $69.1 million available under its revolving credit facility. The company said it plans to prioritize free cash flow toward liquidity improvement and debt reduction while selectively funding investments that meet its return criteria. NACCO expects to invest up to $35 million during the remainder of 2026, primarily in business-development opportunities. NACCO Industries, Inc is a Cleveland, Ohio–based diversified holding company with a history spanning more than a century. Through its principal subsidiaries, the company operates in two primary business areas: coal mining and material-handling system design and manufacturing. Originally incorporated in 1913, NACCO has maintained a presence on the New York Stock Exchange under the ticker symbol NC since the 1920s, evolving its portfolio to meet changing market demands while preserving its core expertise in bulk commodities and industrial services. The North American Coal Corporation, NACCO's coal mining segment, is among the largest producers of lignite coal in the United States. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "NACCO Industries Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Royal Caribbean Cruises Ltd. RCL framed its second-quarter call around resilient demand, stronger close-in bookings and a higher full-year earnings outlook. Management said geopolitical disruption is limiting Mediterranean yield upside. Investor attention shifted to Caribbean pricing, the 2027 booking curve and the company’s ability to expand its vacation ecosystem while maintaining cost discipline. RCL reported adjusted earnings of $4.21 per share, above the Zacks Consensus Estimate of $3.97. Revenues of $4.83 billion topped the $4.81 billion consensus figure. Royal Caribbean Cruises Ltd. price-consensus-eps-surprise-chart | Royal Caribbean Cruises Ltd. Quote Executive vice president and chief financial officer (CFO) Naftali Holtz said stronger revenues, lower costs and favorable joint-venture performance drove the result. Net yields rose 1.2% in constant currency as capacity increased 5%. The CFO said cost favorability was mainly timing-related, with expenses shifting later. Adjusted EBITDA reached $1.8 billion. Chairman and chief executive officer (CEO) Jason Liberty said consumers remain focused on travel and experiences, though some are choosing closer destinations and booking nearer departure dates for flexibility. The CEO said June and July demand was strong after a modest May slowdown. The 2026 and 2027 book positions remain at record pricing, while onboard spending and pre-cruise purchases exceed the prior-year levels. Executive vice president and CFO Naftali Holtz said 2027 bookings are pacing ahead of historical levels, including affected itineraries. Management emphasized that higher volumes are being secured at higher prices. RCL maintained its 2026 constant-currency net yield growth outlook of 1.75% to 2.25%. Revenues are expected to rise 9% as capacity grows 6.6%, while net cruise costs excluding fuel remain roughly flat. Jason Liberty said Mediterranean demand remains healthy but below earlier expectations because the Middle East conflict has persisted. Without that pressure, management would have raised its second-half yield outlook. Naftali Holtz projected roughly flat third-quarter yields, 8.5% capacity growth and adjusted earnings of $6.26 to $6.36 per share. He expects fourth-quarter yields to reaccelerate as deployment mix and dry-dock timing reverse a roughly two-point third-quarter headwind. Liberty highlighted loyalty and technology as central to raising repeat rates and lifetime guest value. The Royal ONE card has exceeded sign-up and spending expectations, while Points Choice and Status Match generated more than 500,000 enrollments. The CEO also said more than 90% of guests use the app, and more than half of onboard revenues are purchased before embarkation. That data supports more relevant recommendations across dining, entertainment and destinations. The connected platform also includes new ships, private destinations and Celebrity River Cruises. The CEO said stakeholder discussions are expected to affect Mahahual’s prior timeline, though RCL remains committed to the development. A Stifel analyst asked whether heavier competitor promotions were affecting Caribbean pricing. Liberty said differentiated ships, destinations, loyalty tools and high guest satisfaction provide insulation, with demand remaining strong into 2027. A UBS analyst pressed management on 2027 load factors and pricing. Holtz and Liberty said booked load is near elevated historical levels, while pricing is higher year over year. A Morgan Stanley analyst asked whether later booking behavior could soften load factors. The CEO said RCL prioritizes price integrity and may accept lower loads in disrupted markets, but close-in demand has supported higher pricing rather than discounting. Management’s closing posture combined growth investment with balance-sheet and capital-return discipline. RCL ended the quarter with $6.9 billion of liquidity and leverage below three times. The company returned more than $600 million through dividends and repurchases. The CEO and CFO tied 2027 ambitions to moderate yield growth, cost control and selective capital deployment rather than ideal market conditions. RCL carries a Zacks Rank #3 (Hold). Its Value and Growth Score is C each, while the Momentum Score is A and the VGM Score is B, indicating stronger momentum and a favorable combined style profile alongside middling value and growth characteristics. Style Scores complement the Zacks Rank, with the strongest historical combinations centered on Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks paired with A or B scores. RCL’s current setup is less decisive, and the Zacks Rank can change as earnings estimates are revised after the reported results. 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 This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Norwegian Cruise Line Holdings Ltd.? Here are five stocks we like better. Norwegian Cruise Line beat second-quarter guidance: Adjusted EBITDA reached $666 million and adjusted EPS was $0.48, while net yields declined 2.6% and unit costs fell slightly. However, the company lowered its full-year net-yield outlook to an approximately 5% decline amid softer demand. Management is pursuing a turnaround focused on execution: New marketing and revenue-management leadership, earlier competitive pricing, and stronger demand generation aim to improve bookings and yields, though Europe and the first half of 2027 are expected to remain pressured. Cost savings and slower fleet investment should support cash flow, but leverage remains elevated: The company identified an additional $100 million in annualized savings, expects capital spending to decline as ship deliveries moderate, and projects year-end net leverage above six times. Royal Caribbean’s Best Quarter Ever Still Leaves a Big Question Norwegian Cruise Line (NYSE:NCLH) reported second-quarter results that exceeded its guidance, while management outlined a turnaround plan centered on marketing, revenue management, cost controls and fleet optimization. Chief Executive Officer John Chidsey said top-line performance grew 5% during the quarter, driven by higher Capacity Days, while unit costs declined 0.5%. The company said the combination resulted in profitability ahead of its prior outlook, though management acknowledged continued pressure on bookings and yields. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Why These 2 Hotel Stocks Are Beating Travel Peers “Successful turnarounds are never linear,” Chidsey said. “They take time to demonstrate tangible performance improvements, which translates into financial success.” Chief Financial Officer Mark Kempa said second-quarter Net Yield declined 2.6%, which was 100 basis points better than the company’s initial expectations. Adjusted Net Cruise Cost excluding fuel was $163 and declined 50 basis points, supported by cost controls. → Microsoft Just Flipped the AI Spending Narrative Overnight MarketBeat Week in Review – 05/04 - 05/08 Adjusted EBITDA reached $666 million, exceeding guidance by $34 million. Adjusted net income was $222 million, and adjusted earnings per share were $0.48, or $0.10 above the company’s guidance. Despite the quarterly outperformance, the company lowered its full-year Net Yield outlook to the low end of its prior range. Norwegian Cruise Line now expects full-year Net Yield to decline about 5%, reflecting what Kempa described as a softer demand environment and the time required for changes in marketing and revenue management to affect results. Third-quarter Net Yield is expected to decline approximately 8.9%, with a 104% load factor. Fourth-quarter Net Yield is expected to decline approximately 6.5%, with a 99% load factor. Full-year adjusted EBITDA is now expected to be approximately $2.5 billion. Full-year adjusted EPS is expected to be approximately $1.50. Adjusted net cruise cost excluding fuel is expected to decline approximately 25 basis points for the full year. → Carrier Earnings Could Send the Stock to a New All-Time High Kempa said Europe will be a particular source of pressure in the third quarter, when the region represents about 39% of the company’s deployment. Approximately two-thirds of guests on those European sailings are sourced from North America, where elevated airfare and broader macroeconomic conditions have weighed on demand, he said. Chidsey said the company’s principal challenges are largely execution-related rather than tied to the broader cruise industry. He said the Norwegian brand has the appropriate product and target consumer base, citing guest satisfaction, repeat rates and CruiseNext sales, but needs to improve how it reaches potential guests. During the quarter, the company added leadership in marketing, revenue management, digital commerce, casino operations and itinerary planning. Heather Jacobs joined as chief people officer, while Lee Applbaum was named chief marketing officer for the Norwegian brand. Chidsey said half of his direct reports are new to their roles within the past year. The company is also transitioning toward a “base-loading” revenue-management methodology at Norwegian Cruise Line. Chidsey said the prior approach in certain cases kept prices too high too far in advance of sailing, limiting early booking demand and increasing exposure to close-in discounting. Under the new approach, Norwegian plans to establish more competitive pricing earlier in the booking curve to build demand sooner and preserve pricing closer to departure. The company has initiated pricing actions on select 2027 sailings and opened 2028 itineraries, which will be managed using the new methodology from the outset. Management said it expects the first half of 2027 to remain pressured, particularly the first quarter, because the company is still rebuilding demand and is below its targeted booked position. However, executives said bookings appear to improve sequentially through the latter half of 2027, when the company expects its marketing, demand-generation and revenue-management actions to have more influence. Chidsey told analysts that the company’s current booking issues are “mostly on us, not the macro,” describing them as addressable execution issues. Norwegian Cruise Line is preparing to preview its Great Tides Water Park at Great Stirrup Cay beginning the week following the call, with an official grand opening scheduled for Sept. 4. The nearly six-acre attraction will include 19 water slides, a 170-foot tidal tower, an over-800-foot river attraction and cliffside jumps, according to the company. The water park complements the recently opened Great Life Lagoon and existing offerings including Silver Cove, private villas and zip-lining. Chidsey said a pier is also expected to open shortly, which the company expects will make the private-island experience more reliable and accessible while expanding paid guest experiences. Management said new marketing creative focused on premium families, Great Stirrup Cay and Norwegian’s broader value proposition would begin rolling out within weeks. The company did not provide revenue or yield estimates associated with the water park investment, saying it was too early to quantify the impact. Within its luxury portfolio, the company announced a binding memorandum of agreement to sell Oceania Sirena. The transaction includes a leaseback arrangement, allowing Norwegian Cruise Line Holdings to operate the ship until it transfers to its new owner in spring 2028. Oceania Nautica will be reimagined as Oceania Aurelia, a more intimate and suite-focused vessel, Chidsey said. Regent Seven Seas Cruises will also add and expand entry-level suite categories on its Seven Seas Explorer-class ships. The company said these changes are intended to better align the luxury fleet with each brand’s positioning and return profile. Norwegian Cruise Line identified another $100 million in annualized savings and cash benefits during the second quarter, primarily through technology-vendor consolidation and employee compensation actions. Those savings follow the $125 million in annualized savings announced in the prior quarter. Combined with savings efforts identified from 2024 through 2026, Kempa said total identified savings over the past three years exceed $500 million. He said the newest savings largely relate to capital expenditures, with the remainder tied mainly to salary and benefit efficiencies. Management said the actions do not reduce the guest experience. The company has 16 ships on order across its three brands, but expects five ships to leave the fleet over the next three years, including Oceania Sirena. Capacity Days are expected to rise 7% in 2026, though capacity growth is projected to moderate to a 2.5% compound annual growth rate from 2026 through 2029. Kempa said gross new-build and growth capital expenditures are expected to decline by nearly $1 billion annually as delivery cadence moderates beginning in 2028. The company expects the lower capital spending to improve free cash flow and support debt reduction. Norwegian Cruise Line now expects year-end net leverage to finish above six times because of its revised EBITDA outlook. Kempa said reducing leverage remains a top priority, while noting that the company has no significant debt maturities until 2030. Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages. Founded in 1966 by Knut Kloster and Ted Arison, the company pioneered the concept of “Freestyle Cruising,” which allows passengers greater flexibility in dining schedules, entertainment choices and onboard activities. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Norwegian Cruise Line Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

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

This article first appeared on GuruFocus. Revenue Growth: 6% year-over-year increase in the second quarter. Earnings Growth: Earnings were 8% higher than guidance. Capital Return: Over $600 million returned to investors through dividends and share repurchases. Net Yields: Increased by 1.2%, 100 basis points higher than guidance. Adjusted Earnings Per Share: $4.21, $0.33 higher than the midpoint of guidance. Adjusted EBITDA: $1.8 billion with an EBITDA margin of 38%. Operating Cash Flow: $1.9 billion. Capacity Growth: Increased by 5% year-over-year. Net Cruise Cost per APCD (excluding fuel): Up 3.9% year-over-year. Full Year Net Yield Growth Guidance: 1.75% to 2.25%. Full Year Adjusted Earnings Per Share Guidance: $17.73 to $17.87. Liquidity: Ended the quarter with $6.9 billion in liquidity. Leverage: Below 3 times, consistent with investment-grade metrics. Share Repurchase Program: $805 million remaining under current authorization. Warning! GuruFocus has detected 10 Warning Signs with CMS. Is RCL fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Royal Caribbean Group (NYSE:RCL) reported second quarter results that exceeded expectations, with revenue growing 6% year-over-year and earnings 8% higher than guidance. The company returned over $600 million of capital to investors through dividends and share repurchases. Demand for vacation experiences continues to strengthen, driven by a healthy experience-seeking consumer and exceptional execution, with Net Promoter Scores averaging in the low to mid-70s. Onboard spending and pre-cruise purchases continue to exceed prior years, supported by digital channels and personalized guest experiences. The introduction of new experiences like the Legend of the Seas and the Royal Beach Club has been well-received, showcasing the company's ability to expand its fleet and destinations. The ongoing conflict in the Middle East has modestly weighed on bookings, particularly impacting third-quarter Mediterranean sailings. Yield growth for Europe sailings this summer is more modest due to geopolitical tensions, reaffirming yield guidance for the year at 1.75% to 2.25%. The development timeline for the Mahahual, Mexico project is expected to be affected due to ongoing community engagement and government processes. Net cruise costs per APCD excluding fuel were up 3.9% year-over-year, although this was better than expected. The company faces deployment mix changes and global events that have created yield headwinds in the third quarter. Q: Can you speak to the continued strength in onboard spending and elaborate on 2027 booking and pricing trends across regions? A: Jason Liberty, Chairman and CEO, explained that onboard spending remains strong due to elevated consumer spending and effective pre-cruise planning facilitated by technology. This has led to increased onboard revenue, particularly in beverages and shore excursions. For 2027, demand is strong with bookings at historical high volumes and higher rates across all products, reaffirming confidence in reaching their financial goals. Q: Have you seen any impact from increased promotions in the Caribbean market, and would you have raised your yield guidance without the European headwinds? A: Jason Liberty confirmed that European geopolitical issues have impacted yield expectations, but Caribbean demand remains strong due to differentiated assets and loyalty programs. Michael Bayley, President and CEO of Royal Caribbean International, added that new attractions like the Royal Beach Club have been very popular, enhancing their competitive position. Q: How do you view the potential impact of Celebrity River on long-term pricing dynamics for the Celebrity Ocean brand? A: Jason Liberty stated that Celebrity River is expected to enhance the brand by offering elevated experiences that align with customer expectations, leading to higher pricing than competitors. This initiative is part of a broader strategy to increase guest engagement and lifetime value across their vacation ecosystem. Q: Can you provide more color on the geopolitical impact on demand and how recent trends have been stronger? A: Jason Liberty noted that geopolitical events have minimal long-term impact on bookings, with strong demand observed in June and July. Consumers prioritize travel experiences, and the company's ability to deliver on expectations has maintained high demand across all brands. Q: How are you enhancing onboard spending through technology, and what is the timeline for these initiatives? A: Jason Liberty highlighted the use of data and technology to personalize guest experiences and enhance onboard spending. New app features are expected to roll out early next year, aiming to make spending more frictionless and tailored to individual preferences. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Royal Caribbean Cruises Ltd. RCL reported second-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. The top line increased, but the bottom line declined on a year-over-year basis. Post the results, the cruise stock fell 1.2% in the pre-market trading session.The company reported second-quarter 2026 adjusted earnings of $4.21 per share, which surpassed the Zacks Consensus Estimate of $3.97 by 6.1%. However, adjusted earnings declined 3.9% from $4.38 in the year-ago quarter. Royal Caribbean Cruises Ltd. price-consensus-eps-surprise-chart | Royal Caribbean Cruises Ltd. Quote Revenues totaled $4.83 billion, beating the consensus mark of $4.81 billion by 0.5%. The top line increased 6.5% year over year. Results benefited from strong close-in demand, lower-than-expected costs and favorable joint-venture performance. Occupancy remained healthy at 110.2%. Royal Caribbean’s demand commentary remained constructive. Booking volumes were above year-ago levels, while the company remained booked at record prices. Load factors also stayed robust across its vacation portfolio.Net yields increased 1.9% on an as-reported basis and 1.2% in constant currency. The metric exceeded management’s guidance, primarily reflecting better-than-expected close-in demand. Capacity increased 4.9% year over year, while the number of passengers carried rose 6.4% to nearly 2.4 million. The second-quarter top line advanced on strength across the two primary revenue streams. Passenger ticket revenues increased 4.5% year over year to $3.34 billion from $3.20 billion. The increase reflected capacity growth, healthy pricing and continued demand for the company’s differentiated cruise experiences. Our model projected second-quarter passenger ticket revenues to be $3.34 billion.Onboard and other revenues rose 11.1% to $1.49 billion from $1.34 billion in the prior-year quarter. Management highlighted strong guest engagement and demand for onboard and destination experiences. Product enhancements and more targeted pre-cruise engagement also supported guest spending. Our model projected second-quarter onboard & other revenues to be $1.48 billion. Operating income declined 1.7% year over year to $1.31 billion from $1.33 billion, as operating expense growth exceeded the increase in revenues. Net income attributable to Royal Caribbean decreased 6.8% to $1.13 billion from $1.21 billion.Adjusted net income fell 6% to $1.13 billion from $1.20 billion. Adjusted EBITDA declined 1.1% to $1.83 billion from $1.85 billion. Adjusted EBITDA margin contracted to 37.9% from 40.8% in the prior-year quarter. Total cruise operating expenses increased 11.6% year over year to $2.55 billion. Payroll and related expenses climbed 23.1% to $405 million, while fuel costs increased 27.2% to $355 million.Food expenses rose 6.5% to $262 million, while other operating expenses increased 9.6% to $615 million. Marketing, selling and administrative expenses were $513 million compared with $508 million a year ago. Net cruise costs excluding fuel per available passenger cruise day increased 4.4% as reported and 3.9% in constant currency. For the first six months of 2026, net cash provided by operating activities increased 9.5% year over year to $3.69 billion.During the second quarter, Royal Caribbean returned more than $600 million to its shareholders. This included $199 million of share repurchases and $404 million of dividend payments. The company had $805 million remaining under its current repurchase authorization.As of June 30, 2026, cash and cash equivalents were $875 million compared with $825 million at the end of 2025. Total liquidity was $6.9 billion, including available capacity under the company’s revolving credit facilities. For the third quarter of 2026, Royal Caribbean expects adjusted earnings of $6.26-$6.36 per share. Total revenues are projected to increase 8%, while net yields are expected to remain approximately flat on both an as-reported and constant-currency basis.The company raised its full-year adjusted earnings guidance to $17.73-$17.87 per share from the prior projection of $17.10-$17.50. The updated range represents expected growth of 14% year over year.Royal Caribbean expects 2026 revenues to rise 9%. Net yields are projected to increase 2.35%-2.85% as reported and 1.75%-2.25% in constant currency. Capacity is expected to grow 6.6%, while capital expenditures are anticipated to be approximately $4.7 billion. Royal Caribbean currently has a Zacks Rank #3 (Hold).Some better-ranked stocks from the Zacks Consumer-Discretionary sector are Life Time Group Holdings, Inc. LTH, AMC Entertainment Holdings, Inc. AMC and The Marcus Corporation MCS.Life Time Group presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here. Life Time Group delivered a trailing four-quarter earnings surprise of 10.9%, on average. The stock has surged 67.3% in the year-to-date period. The Zacks Consensus Estimate for LTH’s 2026 sales and EPS implies growth of 11.3% and 18.1%, respectively, from the year-ago levels. AMC Entertainment presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 321.7%, on average. The stock has rallied 64.1% in the year-to-date period. The Zacks Consensus Estimate for AMC Entertainment’s 2026 sales and EPS indicates an increase of 13.3% and 77.1%, respectively, from the year-ago levels. Marcus currently sports a Zacks Rank #1. The company delivered a trailing four-quarter earnings miss of 40.4%, on average. The stock has gained 59.3% in the year-to-date period. The Zacks Consensus Estimate for Marcus’ 2026 sales and EPS indicates growth of 6.2% and 211.8%, respectively, from the year-ago period’s levels. 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 Marcus Corporation (The) (MCS) : Free Stock Analysis Report AMC Entertainment Holdings, Inc. (AMC) : Free Stock Analysis Report Life Time Group Holdings, Inc. (LTH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research