Royal Caribbean Cruises stocks trended up following its quarterly earnings announcement.
Shares were up nearly 3% higher after the company raised its full-year outlook.
It posted revenues of $4.2 billion for the third quarter.
Quarterly profit was $1.1 billion with net yields up 16.7%.
Close-in demand remained strong and onboard sales revenue performed strongly too, it said.
“The strength of our brands and the acceleration of consumer spending have propelled us towards another outstanding quarter,” CEO Jason Liberty said.
“Our booked load factors are higher than all prior years and at higher rates.”
Royal Caribbean’s fuel costs for the quarter were lower than expected, at $272 million.
The company said there was no drop-off in booking volumes throughout the third quarter which is well above 2019 levels.
As of the end of September customer deposit balance was at $5 billion.
Overall, the outlook for 2024 is rosy, Liberty said.
