Cruises Are More Popular Than Ever—and Investors Are Late to the Party
This year’s ‘wave season’ will break revenue records for cruise lines, but investors are wary of massive debts the industry took…
Read article 
Norwegian Cruise downgrades 2023 profit target on higher costs, Israel war
Norwegian Cruise Line Holdings (NCLH.N) on Wednesday warned of a hit to its annual profit from elevated costs and booking disruptions due to the escalating Israel-Hamas conflict and a lingering impact of the wildfires in Maui. A post-pandemic uptick in demand for cruises was overshadowed by higher food and labor expenses, hurting the cruise operator…
Read article
Carnival forecasts lower profit as costs bite, shares drop 11%
Cruise operator Carnival (CCL.N) on Monday forecast third-quarter profit largely below estimates as rising marketing and labor costs eat into gains from higher ticket prices and strong demand. The company’s shares, which have surged nearly 80% in the past two months on resurgent demand for cruises, dropped 11%. Carnival has increased marketing spend to attract…
Read article
Norwegian Cruise lifts profit forecast on higher ticket prices, steady demand
Norwegian Cruise Line Holdings Ltd (NCLH.N) raised its annual profit forecast and sailed past first-quarter estimates on Monday, betting on higher ticket pricing, pent-up demand and robust on-board spending from wealthy customers, sending shares of the company up 6%. Easing of COVID-19 protocols on ships after long periods of restrictions has encouraged people, especially from…
Read article
Norwegian Cruise’s rocky forecast after revenue beat hits shares
Norwegian Cruise Line Holdings Ltd (NCLH.N) forecast for its first annual profit in three years fell short of estimates on Tuesday, as the cruise operator feels the squeeze from soaring fuel and labor costs. Shares fell about 6% in early trading after the company’s bigger-than-expected first-quarter loss estimate. Norwegian Cruise and rival cruise operators such…
Read article
Royal Caribbean rides ‘wave’ to record bookings after smaller loss
Royal Caribbean Group (RCL.N) said on Tuesday it was set for record bookings during the January-March period after the company posted a smaller-than-expected quarterly loss on pent-up travel demand. Shares of the company rose about 5% in early trade as investors were encouraged by the latest sign of the industry sailing out of the pandemic-induced…
Read article
Norwegian Cruise bets on rich Americans to navigate downturn
Norwegian Cruise Line Holdings Ltd (NCLH.N) said its wealthy travelers would help the U.S. liner ride out an economic downturn after better-than-expected quarterly results lifted its shares 7%. The Miami, Florida-based cruise operator said despite mounting concerns over a recession in the United States, it has not seen any pullback from its customer base of…
Read article
Carnival Corp plunges on forecast of Q4 loss, delayed return to profitability
Carnival Corp (CCL.N) on Friday forecast a loss in the fourth quarter after it reported results for the third quarter that fell well short of Wall Street estimates, as higher fuel prices and cheaper fares offset a rise in bookings. Shares of Carnival plunged 20% to $7.33 per share in midday trading, falling to nearly…
Read article
Royal Caribbean signals slow summer demand in Europe as Ukraine crisis weighs
Royal Caribbean Group (RCL.N) on Thursday flagged slow summer demand for European cruises due to the Ukraine crisis, after a dull first quarter as it reeled under a resurgence in COVID infections in some parts of the world. Shares of the cruise operator fell about 5% to $73.87 after Royal Caribbean Group said higher fuel…
Read article
Hertz Shares Slide as Rebound in Business Travel Proves Elusive
Hertz Global Holdings Inc. reported a profit of 87 cents a share, beating analyst estimates of 80 cents amid a rebound in leisure trips, but investors remain wary of the slow return of corporate travel and sustainability of pricing gains. Hertz, which emerged from bankruptcy in October, said first-quarter revenue of $1.8 billion was up…
Read article