NewsFeeder
06-06-2019, 09:11 AM
Royal Caribbean earnings to be hurt by U.S. ban on Cuba travel
Royal Caribbean Cruises Ltd. said Thursday it expects the sudden U.S. government's ban on cruises to Cuba to have an up to 3.5% negative effect on its 2019 profit. The stock edge up 0.1% in morning trade, after falling 2.5% the previous session after the ban was announced. The company estimates the policy change will reduce adjusted earnings per share by 25 cents to 35 cents, compared with the FactSet EPS consensus of $9.87. "While the affected sailings impact only 3 percent of our 2019 capacity, the extremely short notice period for this high yielding destination amplifies the earnings impact," said Chief Financial Officer Jason Liberty. "The result of this policy change has created a short-term impact to our guests, operations and earnings; fortunately, we have many alternative and attractive destinations for our guests to choose from." The stock has gained 1.3% over the past three months, while the S&P 500 has tacked on 2.2%.
https://finance.yahoo.com/m/c302add4-f66c-3177-a9c7-f27da91b9808/royal-caribbean-earnings-to.html?.tsrc=rss
Royal Caribbean Cruises Ltd. said Thursday it expects the sudden U.S. government's ban on cruises to Cuba to have an up to 3.5% negative effect on its 2019 profit. The stock edge up 0.1% in morning trade, after falling 2.5% the previous session after the ban was announced. The company estimates the policy change will reduce adjusted earnings per share by 25 cents to 35 cents, compared with the FactSet EPS consensus of $9.87. "While the affected sailings impact only 3 percent of our 2019 capacity, the extremely short notice period for this high yielding destination amplifies the earnings impact," said Chief Financial Officer Jason Liberty. "The result of this policy change has created a short-term impact to our guests, operations and earnings; fortunately, we have many alternative and attractive destinations for our guests to choose from." The stock has gained 1.3% over the past three months, while the S&P 500 has tacked on 2.2%.
https://finance.yahoo.com/m/c302add4-f66c-3177-a9c7-f27da91b9808/royal-caribbean-earnings-to.html?.tsrc=rss