3 Reasons I'm Bullish on Royal Caribbean Stock
After enduring a slump of nearly three years, Royal Caribbean Cruises (NYSE: RCL) is finally seeing a wave of pent-up revenge travel. While cruising is clearly making a comeback, Royal Caribbean stock still trades more than 52% down from pre-pandemic highs. My personal opinion is to buy the dip on this cruise-line stock while it lasts. Here's why.
Citing "a substantial acceleration in demand" for cruises this year, CEO Jason Liberty said in the company's third-quarter earnings call that bookings doubled between Q2 2022 and Q3 2022. Liberty affirmed that booking volumes stood "considerably higher" than in the same period in 2019.
Third-quarter revenue last year landed at nearly $3 billion, thanks to a combination of price increases, a rebound in demand, and onboard passenger revenue generation. Liberty pointed out that Royal Caribbean's guests spent "significantly more onboard our ships compared to 2019 across nearly all categories," and that their experiences have led to increased booking activity.
Source Fool.com
