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Royal Caribbean shares head for all-time high after solid 2Q beat and upgraded outlook

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MIAMI — Royal Caribbean cruised beyond most expectations for its second quarter thanks in part to falling energy prices and it raised its profit guidance for the year.

Shares appeared to be heading for an all-time high after jumping 4 percent before the opening bell Friday.

For the period ended June 30, Royal Caribbean Cruises Ltd. earned $185 million, or 84 cents per share. The per-share earnings were 12 cents better than Wall Street expectations, according to a poll by Zacks Investment Research. The company last year reported earnings of $137.7 million, or 62 cents per share.

Revenue for the Miami company totaled $2.06 billion, also topping analyst estimates.

Royal Caribbean now foresees 2015 adjusted earnings in the range of $4.65 to $4.75 per share. Its prior outlook was for $4.45 to $4.65 per share.

Analysts polled by FactSet predict earnings of $4.57 per share.

The cruise operator anticipates third-quarter adjusted earnings of about $2.70 per share. Analysts expect $2.79 per share, according to a FactSet survey.

Royal Caribbean's stock rose $3.76 to $86.50 in premarket trading.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCL at http://www.zacks.com/ap/RCL

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Keywords: Royal Caribbean, Earnings Report

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