Royal Caribbean Shares Soar on Bullish Outlook for Bookings By


© Reuters

By Liz Moyer — Royal Caribbean Cruises Ltd (NYSE:) shares jumped 11% on Monday after the company said bookings are up as vaccines roll out and Americans begin looking to the seas for vacation once more.

Future bookings are coming in with similar volumes and higher prices than the time before the pandemic began last year, putting a halt to sailings.

Royal Caribbean also reported a narrower-than-expected fourth quarter loss of $1.37 billion, or $6.09 a share, after net income of $273.1 million, or $1.30 a share, in the same period a year ago. Excluding nonrecurring items, the loss of $5.02 a share beat expectations for a loss of $5.20 a share.

Revenue dropped 98.6%, to $34 million. The company affirmed its guidance for  an average monthly cash burn of $250 million to $290 million while operations continue to be suspended. 

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