Norwegian Cruise, Royal Caribbean stocks jump after Carnival's occupancy gain

Jun. 24, 2022 11:45 AM ETRoyal Caribbean Cruises Ltd. (RCL), NCLH, CCLBy: Liz Kiesche, SA News Editor10 Comments

Carnival Sunrise docked in Nassau

Emilian Danaila/iStock Editorial via Getty Images

  • Cruise stocks are soaring in Friday midday trading after Carnival Corp.'s (NYSE:CCL) Q2 results showed that it's filling more of its cabins. Occupancy in the quarter rose to 69%, up from 54% in the prior quarter.
  • Norwegian Cruise Line (NYSE:NCLH) stock is gaining 11% and Royal Caribbean Cruises (NYSE:RCL) is surging 12%, both stronger moves than Carnival's (CCL) 8.1% increase.
  • The significant boost in occupancy came only three days after UBS analyst Robin Farley said investors would "need to see a significant pick up in occupancy from the 50% levels in Q1 (and NCLH even below that) while keeping price above 2019 levels as they have in the quarters since restarting - and for the cruise lines to address some refinancing" before cruise names make much headway.

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