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Carnival Cruise Lines (CCL) was added to the IBD50 this week, joining the relative strength in Royal Caribbean Cruise Lines (RCL), and Norwegian Cruise Lines (NCLH). Their bullish breakouts on continued on Monday.

Cruise Lines Rally

Carnival Cruise Lines (CCLbeat expectations when it reported on September 29. Revenue growth surged 59.21% on a year-over-year basis, while earnings growth excceded expectations with a whopping 248.3% increase. In addition, Carnival posted its first quarterly profit since the pandemic.

  • Third quarter revenues hit an all-time high of $6.9 billion.
  • Booking volumes during the third quarter and the month of September continued at significantly elevated levels.
  • Total customer deposits reached a third quarter record of $6.3 billion.
  • The company reduced its debt by nearly $4 billion from its peak in the first quarter of 2023 and ended the third quarter with $5.7 billion of liquidity.  – data courtesy earningswhispers.com

The company will report at the end of December before the opening bell on the 29th.

Carnival Cruise Lines Daily Chart

The breakout of the recent downtrend accelerated over the past week, with price action gaining strength on above average volume.

Royal Caribbean Cruise Lines Leading the Pack

Royal Caribbean Cruise Lines - RCL

“Looking ahead, we see accelerating demand as we build the business in 2024,” CEO Jason Liberty said in the news release. He noted Royal Caribbean’s booked load factors are higher than all prior years and at higher rates.

Royal Caribbean Cruise Lines (RCL) beat expectations by 10.32% while revenue grew 39.00% on a year-over-year basis in its recent report on October 26.

  • Gross margin yields increased 19.1% and net yields increased 16.7% compared to the third quarter of 2019.
  • Total revenues were $4.2 billion, net income was $1.0 billion or $3.65 per share, adjusted net income was $1.1 billion or $3.85 per share, adjusted EBITDA was $1.7 billion. – data courtesy earningswhispers.com

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