Cruises Ltd. (RCCL) raised the midpoint of its forecast for 2019 earnings by
$31 million after reporting higher second-quarter net income.
The company said
it earned $472.8 million in the quarter ended June 30, up from $466
million in the same period a year earlier. Revenue rose to $2.81 billion from
quarter and the outlook for an improved second half led RCCL to increase its
projection for earnings in 2019 to between $2 billion and $2.02 billion.
elated to see our brands executing so effectively, keeping our business in an
exceptionally strong position," Richard Fain, RCCL's chairman and CEO,
said in a statement about the results.
strategic focus on destinations, technology and people is clearly paying off,"
he said. "And our core products are doing exceptionally well, driven by a
gratifyingly robust demand for the Caribbean."
RCCL said increased demand for onboard experiences as well as strong close-in demand for core
products fully offset the impact from the Trump administration's new policy of barring U.S. cruises to Cuba (implemented June 5).
RCCL also said
lower interest expense contributed to the second quarter's positive