With its full fleet back in operation, Royal Caribbean (NYSE: RCL) has enjoyed a record-breaking booking season, driven by historically strong demand. In fact, the seven best booking weeks ever for Royal Caribbean occurred since its third-quarter earnings call last November.

While the cruise operator sets booking records, its stock trades nearly 47% below its January 2020 high. Let's take a look at Royal Caribbean's Q4 and full-year 2022 results and determine if this cruise line stock is due for some upside recovery.

During the Q4 earnings call earlier this month, CEO Jason Liberty boasted that at Royal Caribbean, "business has returned to normal," and that "business is accelerating."

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Source Fool.com