A bullish Royal Caribbean Group earnings call on Monday morning and positive commentary related to cruise bookings in late 2021 and into 2022 and beyond drove cruise stocks to near 52 week highs by the end of the day.
Royal Caribbean announced that booking activity for the second half of 2021 was aligned with the company’s anticipated resumption of cruising.
The company said that pricing on these bookings is higher than 2019 both including and excluding the dilutive impact of future cruise credits.
“Despite the lack of marketing spend, we have seen a 30% increase in new bookings since the beginning of the year when compared to November and December,” said Jason Liberty, CFO.
Royal Caribbean stock was up just over 9 percent by the end of the day, closing at $86.23, up from a 52-week low of $19.25.
Monday saw Carnival Corporation stock close at $25.97, its highest price in 50 weeks.
Norwegian Cruise Line Holdings, ahead of its Thursday earnings call, was up 6.37 percent, closing at $28.56, and up from a 52-week low of $7.03.
Finally, Lindblad Expeditions closed up just under 5 percent at $19.68, and hit its 52-week high during the session. By comparison, on Feb 24, 2020, Lindblad closed at $13.80 with its fleet in operation.