Royal Caribbean Says Profit to Beat Forecasts
Royal Caribbean Cruises Ltd., the third-largest cruise line, said its first-quarter earnings would beat analysts’ estimates because it has been selling trips for higher prices than it expected.
Miami-based Royal Caribbean expects earnings of 25 cents to 30 cents a share for the first quarter, the company said. Analysts expected the company to break even, according to Thomson Financial/First Call.
Royal Caribbean said its “yield,†a measure of pricing in the cruise industry, fell 7% to 8% in the quarter, better than the 10% to 15% decline the company estimated in January.
Royal Caribbean shares fell 25 cents to $21 on the NYSE before the forecast was released.
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