Thanks to Better-Than-Expected Bookings, Royal Caribbean Expects Record Earnings in 2024. What Does It Mean for Investors?

Shares of cruise company Royal Caribbean (NYSE: RCL) are up 90% over the past year, and it's easy to see why investors are celebrating. On April 25, the company reported better-than-expected financial results for the first quarter of 2024.

More importantly, management said it expects to have full-year adjusted earnings per share (EPS) of $10.70 to $10.90 this year.

Here's some context for why that adjusted EPS number is important: Earlier this year, when Royal Caribbean reported financial results for 2023, management said it expected adjusted EPS of $9.50 to $9.70 this year. A mere three weeks later, management said that strong demand was causing it to raise its guidance to $9.90-$10.10.

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Source Fool.com