2024-06-25 18:09:02 ET
Summary
- Carnival Corporation & plc reported surprising profits, even in off-peak months, with record customer deposits and increased cash flow.
- The numbers should provide confidence in Royal Caribbean Cruises Ltd. topping 2024 EPS targets of $11.
- Royal Caribbean Cruises stock is cheap at only 11x '26 EPS targets.
Before the open, Carnival Corporation & plc ( CCL ) reported another strong quarter. Even the worst cruise line is now solidly profitable, leaving Royal Caribbean Cruises Ltd. ( RCL ) incorrectly priced for the current earnings stream, much less the likely upside. My investment thesis is still Bullish for RCL even as the stock zooms to new all-time highs....
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Royal Caribbean: Booming Sector