Royal Caribbean Group announces completion of offering of $1.25 billion senior unsecured notes due 2033 and $1.25 billion senior unsecured notes due 2038 [Accessibility Statement] Skip NavigationMIAMI, Feb. 27, 2026 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL) (the "Company") today announced that it has completed its registered public offering of $1.25 billion aggregate principal amount of 4.750% senior unsecured notes due 2033 (the "2033 Notes") and $1.25 billion aggregate principal amount of 5 ...

Discretionary has been a really interesting space. It's it's been getting trounced by staples so far this year. Looks pretty good today.Just uh consumer confidence beat. So, that's one thing. But that was after Home Depot showed unexpected Q4 comps growth.And that stock was up a bunch. Lowe's up. A lot of the homebuilders up uh today, cruises, casinos.Part of it, Jimmy, plays into the Halo idea. Um, Carvana, which Joe owns, has been on the list I read earlier. Win was on the list I read earlier today, too.> ...

Royal Caribbean Group Appoints Christopher J. Wiernicki to Board of Directors [Accessibility Statement] Skip NavigationMIAMI, Feb. 17, 2026 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today announced the appointment of Christopher J. Wiernicki, former Chairman & CEO, American Bureau of Shipping (ABS), to its Board of Directors, effective immediately.Wiernicki brings more than four decades of commercial, government and international experience in marine and offshore design, along with operations, infra ...

Core Insights - Royal Caribbean Cruises Ltd. (NYSE:RCL) is identified as a high growth and high margin stock, with earnings for Q4 2025 meeting analyst expectations at $2.80 per share [1] - The company forecasts a double-digit revenue increase and a 14% rise in full-year adjusted EPS for 2026, with estimates between $17.70 and $18.10 [1] Group 1: Financial Performance - Royal Caribbean Cruises Ltd. announced Q4 2025 earnings of $2.80 per share, aligning with analyst projections [1] - The company anticipates a revenue increase in the double digits and a 14% growth in adjusted EPS for 2026, with estimates ranging from $17.70 to $18.10 [1] Group 2: Analyst Ratings - JPMorgan raised its price target for Royal Caribbean Cruises Ltd. to $371 from $368, maintaining an Overweight rating [2] - The firm recognizes Royal Caribbean as a "best-in-class operator" in the cruise sector, emphasizing its competitive advantages [2] Group 3: Competitive Positioning - Royal Caribbean's destination portfolio includes unique offerings like Perfect Day at Cococay, which competes effectively with land-based alternatives [3] - The company operates under multiple brands, including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, providing a diverse range of itineraries [3]

Core Viewpoint - Royal Caribbean Group has announced the pricing of $1.25 billion in senior unsecured notes, with two tranches maturing in 2033 and 2038, aimed at refinancing existing debt and repaying other obligations [1][2] Group 1: Offering Details - The company priced $1.25 billion of 4.750% senior unsecured notes due May 15, 2033, and $1.25 billion of 5.250% senior unsecured notes due February 27, 2038 [1] - The expected issuance date for the notes is around February 27, 2026, pending customary closing conditions [1] - The offering is made under an automatic shelf registration statement filed with the SEC on February 29, 2024 [1] Group 2: Use of Proceeds - The net proceeds from the notes will be used to refinance senior notes maturing in 2026 and to repay existing indebtedness, which may include term loans [1] Group 3: Management and Structure - J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and PNC Capital Markets LLC are the lead book-running managers for the offering [1] - Royal Caribbean Group operates 69 ships and offers vacation experiences across more than 1,000 destinations globally through its brands [2]

Core Insights - Carnival Corporation & plc (CCL) has significantly improved its balance sheet by reducing total debt by over $10 billion from its peak in less than three years, reflecting a strong focus on capital structure repair and improved operating performance [1][5] Financial Performance - The company completed a $19 billion refinancing plan within a year, simplifying its capital structure, lowering interest expenses, and optimizing its maturity profile [2] - As a result of refinancing and earnings growth, CCL ended fiscal 2025 with a net debt-to-adjusted EBITDA ratio of 3.4x, achieving investment-grade status with Fitch and a positive outlook from S&P [2] - Projected net interest expense for fiscal 2026 is expected to improve by over $700 million compared to fiscal 2023, and the company reinstated a quarterly dividend of $0.15 per share, indicating confidence in cash flow and balance sheet stability [3] Future Outlook - Carnival anticipates leverage to fall below 3x net debt to EBITDA by the end of fiscal 2026, aligning with its long-term objective of a stronger credit rating profile [4] - The company has called the last of its convertible debt, using cash to retire approximately 18 million shares, further streamlining its capital structure [4] Market Performance - CCL shares have increased by 26.6% over the past three months, outperforming the industry growth of 11.7% [6] - The stock is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 12.76, below the industry average of 17.38, indicating a potential undervaluation [10] Earnings Estimates - The Zacks Consensus Estimate for CCL's fiscal 2026 earnings per share has been revised upward from $2.40 to $2.54, reflecting strong analyst confidence in the stock's near-term prospects [12] - Projections indicate a 12.9% rise in fiscal 2026 earnings for CCL, while competitors are expected to see gains of 15.7%, 15.9%, and 20% respectively [15]

Core Viewpoint - Royal Caribbean Group has announced a 50% increase in its quarterly dividend to $1.50 per common share, reflecting the company's strong business performance and commitment to shareholder returns [1]. Company Overview - Royal Caribbean Group is a leading global vacation company that operates 69 ships and offers experiences across cruise, exclusive destinations, and land-based vacations [1]. - The company serves over 1,000 destinations worldwide through its three brands: Royal Caribbean, Celebrity Cruises, and Silversea, along with a 50% joint venture in TUI Cruises [1]. Future Expansion Plans - The company plans to expand its portfolio of private destinations from three to eight by 2028, utilizing its Perfect Day and Royal Beach Club collections [1]. - Royal Caribbean Group will enter the river cruising market in 2027 with the launch of Celebrity River Cruises [1]. Recognition and Commitment - The company has been recognized in the Fortune World's Most Admired Companies 2026 list and Forbes' 2026 Best American Companies lists, highlighting its commitment to delivering responsible vacations [1].

Core Viewpoint - Carnival has shown resilience in recovering from early pandemic challenges, achieving record revenues and profitability, while still working on debt reduction and operational efficiency [1][2][4]. Financial Performance - Carnival reported record full-year revenue exceeding $26 billion and adjusted net income of $3.1 billion, with advanced bookings at record highs [7]. - The stock price has increased by 50% over the past five years, although it has not fully recovered from early pandemic losses [2]. Debt Management - The company has made significant efforts to pay down debt and has returned to an investment-grade credit rating at Fitch Ratings [7]. - Carnival's strategy includes focusing on variable-rate borrowings to mitigate vulnerability to interest rate increases [4]. Operational Efficiency - Carnival is replacing older ships with more fuel-efficient models and enhancing onboard spending to improve profitability [4]. - The SEA Change plan initiated in 2023 aims to enhance sustainability, earnings, and return on invested capital, with financial goals achieved 18 months ahead of schedule [6]. Valuation and Investment Potential - Carnival's stock trades at 12 times forward earnings estimates, down from over 16 times a year ago, indicating a reasonable valuation that may attract investors [8]. - While Carnival alone may not make an investor a millionaire, it could contribute positively as part of a diversified portfolio over time [9].

Group 1 - Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is considered one of the most undervalued travel stocks by hedge funds [1] - Oceania Cruises, a subsidiary of Norwegian Cruise Line, achieved record-breaking booking levels for its new ship, Oceania Sonata, with bookings exceeding those of the previous ship by 45% [1] - Management reported strong demand for Oceania Sonata's inaugural season, leading to an increase in high-yielding accommodations [2] Group 2 - JPMorgan updated its rating for Norwegian Cruise Line, lowering the price target from $40 to $28 while maintaining an Overweight rating [3] - Citi reiterated a Buy rating on Norwegian Cruise Line, raising the price target from $26 to $29, while noting a conservative outlook for the cruise industry [4] - Norwegian Cruise Line Holdings operates multiple brands, including Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, offering a variety of amenities and activities [5]

Core Insights - The Caribbean cruise market is experiencing a significant supply shock, with industry-wide capacity expected to increase sharply by 14% in 2026, leading to a two-year increase of approximately 27% [1][2] - Carnival Corporation & plc (CCL) aims to maintain pricing and yield despite the rising capacity, forecasting a normalized yield growth of around 3% in 2026 [2][5] Company Strategy - Carnival emphasizes revenue optimization over simply filling berths, willing to sacrifice marginal occupancy to preserve price integrity, a shift from the industry's historical discounting practices [3] - The company benefits from strong booking visibility, with about two-thirds of 2026 capacity already sold at historically high prices, and customer deposits ending 2025 at a record level [2][11] Competitive Landscape - Royal Caribbean Cruises Ltd. (RCL) is also facing the Caribbean capacity surge, supported by new ships and an expanding private-destination portfolio, but its higher capacity growth may pressure pricing discipline if demand softens [6][7] - Norwegian Cruise Line Holdings Ltd. (NCLH) has a smaller fleet and relies more on contemporary and premium brands, making it more vulnerable to promotional activity in a crowded market [8] Financial Performance - CCL's shares have increased by 18.7% over the past three months, outperforming the industry's rise of 12.8% [9] - CCL trades at a forward price-to-earnings ratio of 12.34X, below the industry average of 17.64X, indicating potential valuation upside [12] - The Zacks Consensus Estimate for CCL's 2026 sales and earnings suggests a year-over-year increase of 4.6% and 12.9%, respectively [14]