Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd. was founded in 1968 and is headquartered in Miami, Florida.

Royal Caribbean Cruises Ltd.

The S&P 500 Index ($SPX) (SPY) is up +0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.39%. December E-mini S&P futures (ESZ25) are up +0.25%, and December E-mini Nasdaq futures (NQZ25) are up +0.31%.
US stocks are slightly higher ahead of Wednesday's results of the 2-day FOMC meeting, which begins today. The markets are discounting a 98% chance of a -25 bp rate cut at this week's FOMC meeting. Assuming the Fed proceeds with this week's -25 bp rate cut, the markets are then discounting a 94% chance of another -25 bp rate cut at the next FOMC meeting on December 10. The markets are discounting an overall 115 bp rate cut by the end of 2026 to 2.95% from the current effective federal funds rate of 4.10%.
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The FOMC at this week's meeting is not scheduled to release a Summary of Economic Projections, which contains the Fed's dot plot. That means the markets on Wednesday will hear from Fed Chair Powell at his regular post-meeting press conference, but will not receive an update from other Fed officials on their views of the future course of interest rates.
However, markets are hoping for an update on when the Fed might end its quantitative tightening, which involves allowing its balance sheet to decline. A halt to the Fed's quantitative tightening would be bullish for the stock and bond markets, as the Fed would no longer be draining liquidity from the US financial system.
The Aug FHFA US house price index rose +0.4% m/m, which was stronger than expectations of -0.1%. Meanwhile, the S&P Cotality CS US 20-city house index rose by +0.19% m/m and +1.58% y/y, which was stronger than expectations of -0.10% m/m and +1.30% y/y.
The Oct Richmond Fed manufacturing index rose 13 points to -4, which was stronger than market expectations of a 5 point rise to -12.
The Oct Conference Board US consumer confidence index fell -1.0 point to 94.6 from a revised 95.6, which was stronger than expectations of 93.4.
Stocks have carry-over support from Monday's news that US and Chinese negotiators, who met over the weekend in Malaysia, reached a tentative trade agreement that is expected to be officially announced at Thursday's summit between Presidents Trump and Xi on the sidelines of the ASEAN conference in Malaysia. Treasury Secretary Bessent said the agreement means the US threat of a 100% tariff on US imports from China, set to start November 1, is "effectively off the table." Meanwhile, China agreed not to restrict the export of rare earth metals for at least one year and to buy a "substantial" amount of US soybeans. The two sides also made progress on shipping fees and US demands that China crack down on the export to the US of fentanyl and precursors. The two sides may also reach an agreement that would allow US consumers to continue to access TikTok.
This is a heavy earnings week, with 173 of the S&P 500 companies reporting earnings. Notably, five of the Magnificent Seven companies report earnings this week. Alphabet, Meta, and Microsoft report on Wednesday, and Apple and Amazon.com report on Thursday. Q3 earnings have been running strong so far. According to Bloomberg Intelligence, 84% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from +6.4% in Q2.
The markets are monitoring US-Canada trade relations after President Trump said on Saturday that he would impose a new 10% tariff on US imports from Canada as punishment for last week's anti-tariff advertisement released by the provincial government of Ontario that featured former President Reagan's criticism of tariffs. Mr. Trump initially said he was halting US trade negotiations with Canada because of the ad, but he escalated the punishment this past weekend by imposing a new 10% tariff, even though Ontario had agreed to pause the ad campaign.
Regarding President Trump's reciprocal tariffs, markets are looking ahead to oral arguments at the Supreme Court scheduled for November 5 on whether the tariffs are legal. Lower courts have already ruled that Mr. Trump's reciprocal tariffs are illegal, finding they are based on a specious claim of emergency authority. If the US Supreme Court upholds those rulings and strikes down the tariffs, then the US government will have to refund the reciprocal tariffs already collected, and Mr. Trump's power to impose tariffs will be limited to well-founded sections of US trade law. Observers expect the US Supreme Court to announce its final ruling on the reciprocal tariffs by late 2025 or early 2026.
The US government shutdown continues into its fifth week, weighing on market sentiment and the US economy. The government shutdown is delaying the release of government reports, including all the recent weekly unemployment claims reports, the September unemployment and payroll report, Aug trade balance, Sep retail sales, Sep PPI, Sep housing starts, Sep industrial production, Sep leading indicators, and others. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Overseas stock markets today are steady to lower. The Euro Stoxx 50 is little changed. China's Shanghai Composite closed down -0.22% after Monday's rally of +1.18%. Japan's Nikkei Stock 225 closed down -0.58% after Monday's rally of +2.46%.
Interest Rates
December 10-year T-notes (ZNZ5) are down -2 ticks. The 10-year T-note yield is up +1.1 bp at 3.991%. T-note prices are trading on a cautious note ahead of Wednesday's FOMC decision. T-note prices are also being undercut by carry-over pressure from Monday's news of a US-Chinese trade agreement, which reduced safe-haven demand for Treasury securities. Also, T-note prices are being undercut by today's +0.3 bp rise in the 10-year breakeven inflation expectations rate to 2.290%.
T-note prices have underlying support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed. The 10-year German bund yield is up +0.2 bp at 2.617%. The 10-year UK gilt yield is down -1.1 bp at 4.391%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
The Magnificent Seven stocks are all trading higher, led by a gain of more than +2% in Microsoft (MSFT) and a gain of more than +1% in Nvidia (NVDA).
Nvidia (NVDA), Marvell Technology (MRVL), and Intel (INTC) are up more than +1%, but most of the other chip stocks are showing losses, giving back some of Monday's gains.
UPS (UPS) is up more than +9% after reporting favorable adjusted earnings.
PayPal (PYPL) is up more than +9% on a CNBC report that Open AI has agreed to embed Paypal's digital wallet into ChatGPT.
D.R. Horton (DHI) is down more than -3% after reporting an earnings miss.
Royal Caribbean (RCL) is down more than -7% after an earnings miss.
Earnings Reports(10/28/2025)
DR Horton Inc (DHI), PayPal Holdings Inc (PYPL), UnitedHealth Group Inc (UNH), Wayfair Inc (W), Labcorp Holdings Inc (LH), Corning Inc (GLW), Armstrong World Industries Inc (AWI), Sysco Corp (SYY), Royal Caribbean Cruises Ltd (RCL), VF Corp (VFC), Carrier Global Corp (CARR), A O Smith Corp (AOS), United Parcel Service Inc (UPS), Hubbell Inc (HUBB), Sherwin-Williams Co/The (SHW), Ecolab Inc (ECL), Zebra Technologies Corp (ZBRA), IQVIA Holdings Inc (IQV), MSCI Inc (MSCI), Smithfield Foods Inc (SFD), Tenet Healthcare Corp (THC), Applied Industrial Technologie (AIT), Axalta Coating Systems Ltd (AXTA), Repligen Corp (RGEN), Xylem Inc/NY (XYL), Invesco Ltd (IVZ), SoFi Technologies Inc (SOFI), Regeneron Pharmaceuticals Inc (REGN), American Tower Corp (AMT), Incyte Corp (INCY), ATI Inc (ATI), NextEra Energy Inc (NEE), Neurocrine Biosciences Inc (NBIX), Booking Holdings Inc (BKNG), Mondelez International Inc (MDLZ), Sensata Technologies Holding P (ST), WP Carey Inc (WPC), Enphase Energy Inc (ENPH), Aurora Innovation Inc (AUR), Landstar System Inc (LSTR), Equity Residential (EQR), ONEOK Inc (OKE), Flowserve Corp (FLS), Caesars Entertainment Inc (CZR), Edison International (EIX), CoStar Group Inc (CSGP), Frontier Communications Parent (FYBR), MSA Safety Inc (MSA), Chemed Corp (CHE), Range Resources Corp (RRC), BXP Inc (BXP), PPG Industries Inc (PPG), RenaissanceRe Holdings Ltd (RNR), Regency Centers Corp (REG), ExlService Holdings Inc (EXLS), Veralto Corp (VLTO), Visa Inc (V), Expand Energy Corp (EXE), Seagate Technology Holdings PL (STX), Element Solutions Inc (ESI), Highwoods Properties Inc (HIW), Electronic Arts Inc (EA), Teradyne Inc (TER).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks See Support Ahead of Wednesday's FOMC Decision

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Consumer Discretionary ETF (Symbol: IYC) where we have detected an approximate $114.9 million dollar outflow -- that's a 6.0% decrease week over week (from 18,250,000 to 17,150,000). Among the largest underlying components of IYC, in trading today Lowe's Companies Inc (Symbol: LOW) is trading flat, Spotify Technology SA (Symbol: SPOT) is up about 1.2%, and Royal Caribbean Group (Symbol: RCL) is lower by about 9.2%. For a complete list of holdings, visit the IYC Holdings page » The chart below shows the one year price performance of IYC, versus its 200 day moving average:
Looking at the chart above, IYC's low point in its 52 week range is $77.66 per share, with $106.415 as the 52 week high point — that compares with a last trade of $104.42. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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BOKFL Historical Stock Prices
CPG market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IYC, LOW, SPOT, RCL: ETF Outflow Alert

(RTTNews) - Royal Caribbean Cruises Ltd. (RCL) will host a conference call at 10:00 AM ET on October 28, 2025, to discuss Q3 25 earnings results.
To access the live webcast, log on to https://www.rclinvestor.com/webcasts-presentations/#heading-0
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Royal Caribbean Cruises Q3 25 Earnings Conference Call At 10:00 AM ET

Royal Caribbean (RCL) came out with quarterly earnings of $5.75 per share, beating the Zacks Consensus Estimate of $5.68 per share. This compares to earnings of $5.2 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.23%. A quarter ago, it was expected that this cruise operator would post earnings of $4.1 per share when it actually produced earnings of $4.38, delivering a surprise of +6.83%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Royal Caribbean, which belongs to the Zacks Leisure and Recreation Services industry, posted revenues of $5.14 billion for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.54%. This compares to year-ago revenues of $4.89 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Royal Caribbean shares have added about 38.8% since the beginning of the year versus the S&P 500's gain of 16.9%.
What's Next for Royal Caribbean?
While Royal Caribbean has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Royal Caribbean was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.86 on $4.28 billion in revenues for the coming quarter and $15.66 on $17.98 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Services is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Pursuit Attractions and Hospitality (PRSU), is yet to report results for the quarter ended September 2025. The results are expected to be released on November 5.
This trade show company is expected to post quarterly earnings of $2.56 per share in its upcoming report, which represents a year-over-year change of +27.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Pursuit Attractions and Hospitality's revenues are expected to be $225.45 million, down 50.5% from the year-ago quarter.
Should You Invest in Royal Caribbean Cruises Ltd. (RCL)?
Before you invest in Royal Caribbean Cruises Ltd. (RCL), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Royal Caribbean (RCL) Tops Q3 Earnings Estimates

The following companies are expected to report earnings prior to market open on 10/28/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
UnitedHealth Group Incorporated (UNH)is reporting for the quarter ending September 30, 2025. The hmo company's consensus earnings per share forecast from the 10 analysts that follow the stock is $2.80. This value represents a 60.84% decrease compared to the same quarter last year. The last two quarters UNH had negative earnings surprises; the latest report they missed by -15.7%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for UNH is 22.42 vs. an industry ratio of 46.60.
NextEra Energy, Inc. (NEE)is reporting for the quarter ending September 30, 2025. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.04. This value represents a 0.97% increase compared to the same quarter last year. In the past year NEE has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 2.94%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for NEE is 22.94 vs. an industry ratio of 19.80, implying that they will have a higher earnings growth than their competitors in the same industry.
American Tower Corporation (REIT) (AMT)is reporting for the quarter ending September 30, 2025. The reit company's consensus earnings per share forecast from the 3 analysts that follow the stock is $2.55. This value represents a 3.41% decrease compared to the same quarter last year. In the past year AMT has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 3.59%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for AMT is 18.74 vs. an industry ratio of 12.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Royal Caribbean Cruises Ltd. (RCL)is reporting for the quarter ending September 30, 2025. The leisure (recreational) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $5.67. This value represents a 9.04% increase compared to the same quarter last year. In the past year RCL has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 6.83%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for RCL is 20.21 vs. an industry ratio of 5.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Sherwin-Williams Company (SHW)is reporting for the quarter ending September 30, 2025. The chemical company's consensus earnings per share forecast from the 7 analysts that follow the stock is $3.46. This value represents a 2.67% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for SHW is 29.43 vs. an industry ratio of 8.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Ecolab Inc. (ECL)is reporting for the quarter ending September 30, 2025. The chemical company's consensus earnings per share forecast from the 9 analysts that follow the stock is $2.06. This value represents a 12.57% increase compared to the same quarter last year. ECL missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -0.53%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for ECL is 36.87 vs. an industry ratio of 8.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Corning Incorporated (GLW)is reporting for the quarter ending September 30, 2025. The communications company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.66. This value represents a 22.22% increase compared to the same quarter last year. In the past year GLW has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 5.26%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for GLW is 35.39 vs. an industry ratio of 39.90.
PayPal Holdings, Inc. (PYPL)is reporting for the quarter ending September 30, 2025. The financial transactions company's consensus earnings per share forecast from the 14 analysts that follow the stock is $1.19. This value represents a 0.83% decrease compared to the same quarter last year. In the past year PYPL has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 7.69%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for PYPL is 13.34 vs. an industry ratio of 12.50, implying that they will have a higher earnings growth than their competitors in the same industry.
United Parcel Service, Inc. (UPS)is reporting for the quarter ending September 30, 2025. The transportation company's consensus earnings per share forecast from the 10 analysts that follow the stock is $1.31. This value represents a 25.57% decrease compared to the same quarter last year. UPS missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -0.64%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for UPS is 13.50 vs. an industry ratio of 16.00.
Regeneron Pharmaceuticals, Inc. (REGN)is reporting for the quarter ending September 30, 2025. The biomedical (gene) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $7.63. This value represents a 34.95% decrease compared to the same quarter last year. REGN missed the consensus earnings per share in the 1st calendar quarter of 2025 by -2.72%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for REGN is 17.96 vs. an industry ratio of -2.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Carrier Global Corporation (CARR)is reporting for the quarter ending September 30, 2025. The building company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.55. This value represents a 33.73% decrease compared to the same quarter last year. In the past year CARR has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 1.1%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CARR is 21.34 vs. an industry ratio of 23.20.
D.R. Horton, Inc. (DHI)is reporting for the quarter ending September 30, 2025. The building (residential/commercial) company's consensus earnings per share forecast from the 15 analysts that follow the stock is $3.29. This value represents a 16.07% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for DHI is 13.36 vs. an industry ratio of 12.30, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for October 28, 2025 : UNH, NEE, AMT, RCL, SHW, ECL, GLW, PYPL, UPS, REGN, CARR, DHI

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Royal Caribbean Group (Symbol: RCL), where a total volume of 12,687 contracts has been traded thus far today, a contract volume which is representative of approximately 1.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 80% of RCL's average daily trading volume over the past month, of 1.6 million shares. Especially high volume was seen for the $300 strike put option expiring October 31, 2025, with 1,925 contracts trading so far today, representing approximately 192,500 underlying shares of RCL. Below is a chart showing RCL's trailing twelve month trading history, with the $300 strike highlighted in orange:
Exponent Inc. (Symbol: EXPO) saw options trading volume of 2,677 contracts, representing approximately 267,700 underlying shares or approximately 79.7% of EXPO's average daily trading volume over the past month, of 335,855 shares. Especially high volume was seen for the $60 strike call option expiring June 18, 2026, with 1,258 contracts trading so far today, representing approximately 125,800 underlying shares of EXPO. Below is a chart showing EXPO's trailing twelve month trading history, with the $60 strike highlighted in orange:
And Burlington Stores Inc (Symbol: BURL) saw options trading volume of 6,875 contracts, representing approximately 687,500 underlying shares or approximately 79.4% of BURL's average daily trading volume over the past month, of 865,965 shares. Particularly high volume was seen for the $220 strike put option expiring December 05, 2025, with 3,960 contracts trading so far today, representing approximately 396,000 underlying shares of BURL. Below is a chart showing BURL's trailing twelve month trading history, with the $220 strike highlighted in orange:
For the various different available expirations for RCL options, EXPO options, or BURL options, visit StockOptionsChannel.com.
Also see:
Top Ten Hedge Funds Holding NRO
VIAB Videos
Funds Holding CNBC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Monday Option Activity: RCL, EXPO, BURL

MGM Resorts International MGM is scheduled to report third-quarter 2025 results on Oct. 29, after the closing bell. In the previous quarter, the company reported an earnings surprise of 36.2%.
MGM’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 26.9%.
Trend in the Estimate Revision of MGM
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) has decreased to 37 cents from 41 cents in the past seven days, which indicates a decline of 31.5% from 54 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $4.2 billion, indicating an increase of 0.8% from the prior-year quarter’s figure.
MGM Resorts International Price, Consensus and EPS Surprise
Let us look at how things might have shaped up in the quarter to be reported.
Factors Likely to Shape MGM Resorts’ Quarterly Results
MGM Resorts’ third-quarter performance is expected to have benefited from continued strength across its international and digital segments, supported by steady contributions from its regional operations. MGM China likely remained a key growth driver, with robust premium mass visitation and rising market share contributing to top-line gains. The launch of the Alpha Club at MGM Macau and the addition of new suites at MGM Cotai are expected to have aided the company’s performance in the third quarter. The Zacks Consensus Estimate for third-quarter revenues from MGM China is pegged at $1.06 billion compared with $929.5 million reported in the prior-year quarter.
Digital momentum is likely to have aided the company’s top line in the third quarter. BetMGM’s focus on profitable player acquisition, improved engagement and operational efficiency, combined with the integration of Tipico’s U.S. technology platform, likely enhanced its performance. Internationally, MGM Digital’s expanding footprint in Europe and Brazil, alongside disciplined cost management, is expected to have aided MGM’s performance in the third quarter.
Meanwhile, the company’s regional operations likely maintained strong cash generation supported by enhanced gaming, hotel, and food and beverage performance. The Zacks Consensus Estimate for third-quarter revenues from regional operators is pegged at $953.7 million, compared with $952.1 million reported in the prior-year quarter.
However, ongoing room renovation disruptions at MGM Grand and softer midweek trends at value-oriented resorts likely weighed on profitability during the third quarter. Higher marketing and integration-related expenses tied to MGM Digital’s global expansion and elevated pre-opening costs from development projects may have added pressure to third-quarter margins.
What Our Model Says About MGM Stock
Our proven model does not conclusively predict an earnings beat for MGM Resorts this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that is not the case here.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of +6.92%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #4 (Sell).
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Norwegian Cruise Line Holdings Ltd. NCLH has an Earnings ESP of +0.74% and a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Norwegian Cruise Line is expected to register a 17.2% increase in earnings for the to-be-reported quarter. Norwegian Cruise Line reported better-than-expected earnings in two of the trailing four quarters and missed on two occasions, the average surprise being 29.1%.
Wynn Resorts, Limited WYNN has an Earnings ESP of +9.24% and a Zacks Rank #2.
Wynn Resorts’ earnings for the to-be-reported quarter are expected to increase 20%. Wynn Resorts reported better-than-expected earnings in one of the trailing four quarters and missed on three occasions, the average surprise being 11.5%.
Royal Caribbean Cruises Ltd. RCL has an Earnings ESP of +0.29% and a Zacks Rank of 3 at present.
In the to-be-reported quarter, Royal Caribbean’s earnings are expected to increase 9%. Royal Caribbean’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.4%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

MGM Resorts Gears Up to Report Q3 Earnings: Here's What to Expect

The market expects Marcus (MCS) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 31. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on theearnings call it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This operator of movie theaters, hotels and resorts is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -38.5%.
Revenues are expected to be $210.31 million, down 9.6% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 3.64% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Marcus?
For Marcus, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -13.54%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Marcus will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Marcus would post earnings of $0.19 per share when it actually produced earnings of $0.23, delivering a surprise of +21.05%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Marcus doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry Player
Among the stocks in the Zacks Leisure and Recreation Services industry, Royal Caribbean (RCL), is soon expected to post earnings of $5.67 per share for the quarter ended September 2025. This estimate indicates a year-over-year change of +9%. This quarter's revenue is expected to be $5.16 billion, up 5.7% from the year-ago quarter.
The consensus EPS estimate for Royal Caribbean has been revised 0.1% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.29%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Royal Caribbean will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Should You Invest in Marcus Corporation (The) (MCS)?
Before you invest in Marcus Corporation (The) (MCS), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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Earnings Preview: Marcus (MCS) Q3 Earnings Expected to Decline

Royal Caribbean Cruises Ltd. RCL is scheduled to report third-quarter 2025 results on Oct. 28, before the opening bell.
RCL’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise being 6.4%.
Trend in the Estimate Revision of RCL
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at $5.67, indicating a rise of 9% from $5.20 reported in the year-ago quarter.
Royal Caribbean Cruises Ltd. Price and EPS Surprise
For revenues, the consensus mark is pegged at nearly $5.16 billion. The metric suggests a rise of 5.7% from the year-ago quarter’s figure.
Let’s take a look at how things have shaped up in the quarter.
Factors Likely to Shape Royal Caribbean's Q3 Quarterly Results
Royal Caribbean’s third-quarter top line is expected to have increased year over year, driven by resilient consumer demand, strong pricing trends and continued strength across onboard revenue streams. Robust booking activity, particularly for close-in sailings and steady load factors, likely supported revenue growth in the to-be-reported quarter.
Management anticipates net yield growth of 2-2.5%, likely fueled by like-for-like performance from the existing fleet and solid contributions across Caribbean, European and Alaskan itineraries. Healthy pre-cruise purchases, along with increased spending from loyalty members, are expected to have bolstered third-quarter onboard revenue momentum.
Our model estimates third-quarter passenger ticket revenues to rise 5.1% year over year to $3.6 billion. We expect onboard and other revenues to rise 6.3% year over year to $1.5 billion.
Meanwhile, strong performance at private destinations, including Perfect Day at CocoCay, and progress toward the launch of the Royal Beach Club Paradise Island, may have enhanced yields. Our model predicts third-quarter net yields at $301.3 million (on a reported basis) and $300.8 million (constant-currency basis).
Elevated costs tied to new ship deliveries and deferred spending are likely to have weighed on margins in the third quarter. Management expects net cruise costs (excluding fuel) to have increased 6-6.5% year over year, with roughly 230 basis points of the rise attributable to the delivery of Star of the Seas and cost timing shifts from the previous quarter. Per our model, third-quarter net cruise costs (excluding fuel per APCD) are estimated at $126.2 million (on a reported basis) and $125.7 million (on a constant-currency basis).
Despite these headwinds, solid yield growth and sustained onboard revenue strength likely offset most of the cost pressures in the third quarter. The company projects third-quarter adjusted EPS in the range of $5.55-$5.65, reflecting continued earnings momentum and strong execution across its global portfolio.
What Our Model Says About RCL Stock
Our proven model predicts an earnings beat for Royal Caribbean this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
Royal Caribbean’s Earnings ESP: RCL has an Earnings ESP of +1.54%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
RCL’s Zacks Rank: The company currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat on Earnings
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
Norwegian Cruise Line Holdings Ltd. NCLH has an Earnings ESP of +0.80% and a Zacks Rank of 1 at present.
Norwegian Cruise Line is expected to register a 18.20% increase in earnings for the to-be-reported quarter. Norwegian Cruise Line reported better-than-expected earnings in two of the trailing four quarters and missed on two occasions, the average surprise being 29.1%.
Wynn Resorts, Limited WYNN has an Earnings ESP of +9.24% and a Zacks Rank #2 at present.
Wynn Resorts’ earnings for the to-be-reported quarter are expected to increase 20%. Wynn Resorts reported better-than-expected earnings in one of the trailing four quarters and missed on three occasions, the average surprise being 11.5%.
PENN Entertainment, Inc. PENN currently has an Earnings ESP of +13.00% and a Zacks Rank of 3.
PENN Entertainment’s earnings for the to-be-reported quarter are expected to increase 58.3%. PENN reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 92.7%.
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Royal Caribbean Gears Up to Report Q3 Earnings: What's in Store?

Boyd Gaming Corporation BYD is scheduled to report third-quarter 2025 results on Oct. 23, after the closing bell.
BYD’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise being 9.1%.
Trend in the Estimate Revision of BYD
The Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at $1.55, indicating a rise of 2% from $1.52 reported in the year-ago quarter.
Boyd Gaming Corporation Price and EPS Surprise
For revenues, the consensus mark is pegged at nearly $865.8 million. The metric suggests a decline of 9.9% from the year-ago quarter’s figure.
Let’s take a look at how things have shaped up in the quarter.
Factors Likely to Shape Boyd Gaming’s Q3 Quarterly Results
Boyd Gaming’s third-quarter 2025 performance is expected to reflect steady demand across its core markets, continued operating discipline and benefits from its strengthened balance sheet. Robust play from core customers, improving retail trends and a stable promotional environment likely supported the company’s performance in the to-be-reported quarter.
In the Midwest and South segment, performance is likely to have remained steady. The second quarter marked the region’s strongest results in nearly three years, aided by continued momentum at Treasure Chest and resilient local demand. These trends are expected to have persisted into the third quarter, although the absence of calendar tailwinds and some normalization in unrated play could have limited upside. The Zacks Consensus Estimate for third-quarter revenues from the Midwest and South segment is projected at $522.9 million compared with $522.4 million reported in the prior-year quarter.
We expect muted Las Vegas room demand, renovation-related disruptions and inflationary cost pressures to have weighed on Boyd Gaming’s third-quarter performance. A decline in average daily room rates across the Las Vegas Valley and a generally softer destination travel environment likely impacted visitation levels, particularly at properties such as The Orleans. Despite this, strong play from core and retail customers within the Las Vegas Locals segment is expected to have provided a partial offset, supported by continued job growth and a more affordable cost of living in Southern Nevada. The Zacks Consensus Estimate for third-quarter revenues from Las Vegas Locals operations is projected at $210.4 million compared with $211.9 million reported in the prior-year quarter.
Macroeconomic headwinds and near-term industry pressures are likely to have weighed modestly on the company’s third-quarter performance. Inflationary costs, competitive labor markets and softer summer room demand in Las Vegas may have constrained margin expansion. Property renovations — particularly the disruptive phase at Suncoast — could also have temporarily impacted traffic in the third quarter.
What Our Model Says About BYD Stock
Our proven model predicts an earnings beat for Boyd Gaming this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Boyd Gaming’s Earnings ESP: Boyd Gaming has an Earnings ESP of +1.25%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BYD’s Zacks Rank: The company has a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat on Earnings
Here are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
Wynn Resorts, Limited WYNN has an Earnings ESP of +16.91% and a Zacks Rank #2 at present.
Wynn Resorts' earnings for the to-be-reported quarter are expected to increase 23.3%. Wynn Resorts reported better-than-expected earnings in one of the trailing four quarters and missed on three occasions, the average surprise being 11.5%.
Royal Caribbean Cruises Ltd. RCL has an Earnings ESP of +1.54% and a Zacks Rank of 3.
Royal Caribbean is expected to register a 9% increase in earnings for the to-be-reported quarter. Royal Caribbean reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 6.4%.
PENN Entertainment, Inc. PENN currently has an Earnings ESP of +11.38% and a Zacks Rank of 3.
PENN Entertainment’s earnings for the to-be-reported quarter are expected to increase 58.3%. PENN reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 92.7%.
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Royal Caribbean Cruises Ltd.

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