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 appears operationally strong, but its market valuation has already moved noticeably ahead of its fundamental base. The company demonstrates very high ROE, ROA, and ROI, as well as strong margins: net margin of 24.36%, operating margin of 27.88%, and gross margin of 49.68%, and these metrics remain consistently high over the years. Revenue, EBITDA, operating income, and net income are at solid levels and generally support the thesis of a recovery and normalization of the business after weaker periods. At the same time, the debt burden remains significant: debt/equity is 1.96, long-term debt is nearly $19.7 billion, and liquidity is very weak, with a current ratio of 0.20 and a quick ratio of 0.17, which limits financial flexibility. The balance sheet does not look fragile in absolute terms, since assets and equity are growing, but the capital structure still relies heavily on borrowed financing. The main limiting factor for the valuation is expensive multiples: P/S, P/B, and P/FCF are significantly above industry medians, indicating expectations that are already priced in. A P/E ratio around the industry median looks more neutral, but it does not offset the overvaluation relative to revenue, book value, and free cash flow. Dividend yield has increased to 0.52%, but it is still too low to materially support the investment case through income. The year-over-year trend is generally positive in terms of earnings and profitability, but not strong enough to justify such a high premium multiple. For an investor, this means the business is high quality and profitable, but the current price already reflects a significant portion of the improvements. Therefore, fair value should be below the current level, taking a conservative view that accounts for both strong operating efficiency and the high valuation and weak liquidity.

Royal Caribbean Cruises Ltd.

Слабый индекс, незначительно упал. Уверенность быков остается на низком уровне.

Weak index, slightly down. Bullish confidence remains low.

Сильный индекс, значительно упал. Медведи в растерянности.

Strong index, significantly down. The bears are confused.

Сильный индекс, незначительно вырос. Рынок на стороне быков.

Strong index, slightly up. The market is on the bulls' side.

Сильный индекс, незначительно упал. Рынок не поддерживает медведей.

Strong index, slightly down. The market does not support the bears.

Сильный индекс, незначительно вырос. Приток средств в лонги на высоком уровне.

Strong index, slightly up. Inflow of funds into longs at a high level.

Сильный индекс, значительно упал. Отток средств из шортов на высоком уровне.

Strong index, significantly down. Outflow of funds from shorts at a high level.

RCL’s strong profitability and margins are combined with a high debt burden and expensive valuation multiples, so the valuation appears overstretched.

Royal Caribbean Cruises Ltd. RCL has a stronger earnings outlook, healthy demand and clear momentum in bookings. Those factors support the bullish side of the stock’s investment case.
The issue is valuation. RCL already reflects much of that strength, while debt, capital spending and regional disruption keep the risk-reward profile balanced.
RCL Raises Its 2026 Earnings Expectations
Royal Caribbean now expects adjusted earnings per share of $17.73-$17.87 for 2026. That implies expected year-over-year growth of 14%, supported by stronger second-quarter performance and a better outlook for the balance of the year.
Royal Caribbean Cruises Ltd. Price and Consensus
Revenues are expected to grow 9% in 2026. Capacity is projected to increase 6.6%, while constant-currency net yields are expected to rise 1.75-2.25%.
Royal Caribbean Delivers Another Earnings Beat
Second-quarter adjusted earnings were $4.21 per share, beating the Zacks Consensus Estimate by 6.1%. Revenues of $4.83 billion topped expectations by 0.5%.
Close-in demand was better than expected, particularly in the Caribbean. Lower-than-expected costs and favorable joint-venture performance also helped the company exceed guidance.
RCL Trades Above Key Industry Valuations
RCL trades at 4.23X forward 12-month sales, above the Zacks sub-industry’s 2.74X. That premium leaves less room for disappointment.
The $339 price target is based on a 4.44X forward sales multiple. Against the reported share price of $322.50, that points to only moderate upside.
Carnival Corporation Ltd. CCL and Norwegian Cruise Line Holdings Ltd. NCLH remain useful peer references for investors comparing cruise demand, fuel exposure and balance-sheet repair across the industry. RCL’s premium multiple suggests investors are already assigning it credit for stronger execution.
Royal Caribbean Faces Margin and Cost Pressure
The second quarter was not clean across every line item. Net income attributable to Royal Caribbean fell 6.8% year over year, adjusted net income declined 6% and adjusted EBITDA slipped 1.1%.
Adjusted EBITDA margin contracted to 37.9% from 40.8%. Payroll and fuel expenses increased, and 2026 capital expenditures are expected to be approximately $4.7 billion, keeping the business capital intensive.
RCL Carries Material Financial Commitments
Royal Caribbean ended the second quarter with total debt of $23.4 billion. Scheduled debt maturities include $2.7 billion in 2027 and $3.4 billion in 2028.
The company also had approximately $12.8 billion of remaining contractual ship purchase obligations. These commitments are balanced by $6.9 billion of liquidity, improving operating cash flow and leverage below three times.
RCL’s Scores Support Patience Over Aggressive Buying
The bottom line is that RCL looks like a stronger company than a straightforward bargain. Earnings expectations are rising, demand remains durable and the stock has momentum, but valuation and execution risks argue against aggressive buying at current levels.
The stock currently carries a Zacks Rank #3 (Hold). That rank fits a mixed setup where positive estimate activity and business momentum are offset by premium valuation and sizable financial commitments.
RCL has a Momentum Score of A and a VGM Score of B, reflecting favorable price strength and a balanced overall style profile. Its Value Score of C and Growth Score of C temper the bullish case, suggesting investors may be better served by patience than chasing the stock after its run.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Is RCL Stock Worth Buying After Its Strong 2026 Earnings Outlook?

Royal Caribbean Cruises Ltd. RCL is pairing record pricing with a broader vacation platform built around ships, destinations, loyalty and technology.
The central question for investors is whether these initiatives can widen RCL’s addressable market while supporting earnings growth and cash generation through a heavy investment cycle.
Royal Caribbean Demand Holds at Record Pricing
In the second quarter of 2026, capacity increased 5% year over year, and Royal Caribbean carried nearly 2.4 million guests. Constant-currency net yields rose 1.2%, coming in ahead of guidance.
Close-in demand was better than expected, led by Caribbean products and onboard revenue. RCL’s 2026 booked position remains in line with prior years at record pricing, while early 2027 bookings are pacing ahead of historical levels.
Royal Caribbean Cruises Ltd. Price and Consensus
RCL Expands Its Fleet and Vacation Portfolio
Fleet expansion remains a core growth lever. Royal Caribbean took delivery of Legend of the Seas in the second quarter, adding another Icon-class platform to its portfolio.
The orderbook includes additional Icon-class, Oasis-class and Discovery-class ships. Capacity is expected to rise 6.6% in 2026, followed by 4%, 6% and 7% in 2027, 2028 and 2029, respectively, giving RCL a measured expansion runway.
Newer ships support premium pricing, onboard spending and repeat travel by adding differentiated experiences. Carnival Corporation Ltd. CCL and Norwegian Cruise Line Holdings Ltd. NCLH also compete for vacation spending, making product distinction an important part of the cruise investment debate.
Royal Caribbean Builds a Private Destination Edge
Royal Caribbean plans to expand its private destination portfolio from three locations to eight by 2028. These assets are becoming a larger part of its effort to control more of the vacation experience.
Perfect Day is expected to draw nearly four million guests in 2026, while Royal Beach Club Nassau has become the company’s highest-rated Bahamas experience. Private destinations can help RCL differentiate itineraries, retain more guest spending and connect ship and shore experiences under one ecosystem.
RCL Adds River Cruises to Its Growth Platform
Celebrity River Cruises gives Royal Caribbean another vacation occasion rather than a replacement for ocean cruising. Management has described river cruising as incremental to its existing platform.
The first vessels, Celebrity Compass and Celebrity Seeker, are scheduled for delivery in 2027, followed by additional ships in 2028. RCL can use its distribution, loyalty infrastructure and customer data to market these trips to existing Celebrity and Royal Caribbean guests.
Royal Caribbean Targets Higher Earnings and Cash Flow
Royal Caribbean expects 2026 revenues to grow 9%, supported by capacity growth and constant-currency net yield gains. Adjusted earnings per share are projected to rise 14% year over year to $17.73-$17.87.
The company ended the second quarter with $6.9 billion of liquidity, while leverage was below three times. RCL also returned more than $600 million to shareholders during the quarter through dividends and share repurchases.
Still, execution discipline matters. Capital expenditures are expected to be approximately $4.7 billion in 2026, mainly tied to the new ship orderbook and land-based destination initiatives.
RCL Signals Balanced Growth With a Hold Rating
Royal Caribbean has several visible growth drivers, including record pricing, private destinations, newer ships, digital engagement and river cruising. The offset is that major fleet and destination investments require careful timing, cost control and demand resilience.
The stock currently carries a Zacks Rank #3 (Hold). That rank points to a balanced near-term setup, with strong operating momentum weighed against execution risks and recent estimate movement.
RCL has a Momentum Score of A and a VGM Score of B, signaling favorable share-price and combined style characteristics. Its Value Score of C and Growth Score of C suggest a more neutral profile on those individual measures, keeping the overall investment case balanced rather than one-sided.
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Royal Caribbean Growth Drivers Investors Should Watch Through 2028

Key Points
In a challenging geopolitical environment, the cruise operator still delivered solid results.
Royal Caribbean lowered its top-line guidance, but raised it on the bottom line.
The company is targeting 20% earnings growth through 2027.
Royal Caribbean (NYSE:RCL) has been the top-performing stock in the cruise industry since the pandemic, thanks to consistently operating above normal capacity, strong onboard spending, and private destinations that have delivered high margins.
The stock is up nearly 1,000% from its post-pandemic bottom, and it just delivered another strong round of results for investors.
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Royal Caribbean stock jumped 5.7% on Tuesday after the company topped estimates in its second-quarter earnings report and raised its guidance. Let’s take a closer look.
Image source: Getty Images.
Royal Caribbean impresses
Royal Caribbean said revenue was up 6% to $4.83 billion, which matched estimates, and its load factor, or occupancy, was 110% (100% occupancy is based on two occupants per room).
Royal Caribbean continues to find success with its higher-end, newer Icon class, and the company launched Legend of the Seas earlier in July, which is delivering “exceptional returns.”
Net yields, or price per customer, were up 1.9%, and capacity was up 5% for the year, driving the 6% increase in revenue. However, costs rose in line with revenue, and adjusted earnings per share fell from $4.38 to $4.21, due to a challenging political climate with the war in Iran and higher fuel costs.
That result still easily beat expectations at $3.98, showing Royal Caribbean delivered strong results in a difficult environment.
Investors seemed most excited about the company’s guidance as it lowered its full-year revenue guidance from 10% to 9%, but raised its adjusted EPS guidance to $17.73-$17.87, up from a previous range of $17.10-$17.50. That represents 14% year-over-year growth and a 23% compound annual growth rate (CAGR) over the first two years of its Perfecta program, which is targeting a 20% earnings CAGR from 2024 to 2027.
Perfecta is the company’s three-year financial performance initiative, with targets for adjusted EPS growth, a high-teens return on invested capital (ROIC), reducing financial leverage to below 3x, and reducing net carbon intensity by 15%.
To achieve that, the company is targeting moderate capacity and yield growth, and aggressive cost control. Geopolitical issues and higher fuel costs seem to have slowed the earnings growth in the second quarter. However, Royal Caribbean’s guidance indicates its growth and margin-expansion initiatives remain on track.
Is Royal Caribbean a buy?
While Royal Caribbean’s stock breakout growth has slowed over the last year, the company is still executing effectively and is on track to achieve those goals.
Demand for cruising remains robust, and CFO Naftali Holtz said as much, noting, “Consumer demand for our vacation experiences is strong, and guests continue to demonstrate a desire to spend on memorable experiences with us.”
Despite a modest, near-term impact on bookings in certain geographies from the Iran war, bookings are at record prices, booking volumes are up from a year ago, and load factors are robust as well.
Royal Caribbean now trades at a price-to-earnings ratio of 20. That looks like a great price for a company targeting 20% earnings growth over the next two years and with the proven track record of Royal Caribbean.
Should you buy stock in Royal Caribbean Cruises right now?
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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.

Royal Caribbean Raises Full-Year Guidance. Here’s What Investors Need to Know.

Royal Caribbean (RCL) reported $4.83 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.5%. EPS of $4.21 for the same period compares to $4.38 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.81 billion, representing a surprise of +0.45%. The company delivered an EPS surprise of +6.05%, with the consensus EPS estimate being $3.97.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Royal Caribbean performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
APCD (Available passenger cruise days): 13,572.40 Days versus the five-analyst average estimate of 13,585.62 Days.
Net Yields: $288.95 versus $287.91 estimated by four analysts on average.
Occupancy Rate: 110.2% versus 110.4% estimated by four analysts on average.
Passenger Cruise Days: 14,962.21 Days versus the four-analyst average estimate of 14,985.60 Days.
Net Cruise Costs Excluding Fuel per APCD: $132.30 versus $133.29 estimated by three analysts on average.
Net Cruise Costs per APCD: $158.42 versus the three-analyst average estimate of $158.70.
Passengers Carried: 2.4 million versus the two-analyst average estimate of 2.57 million.
Revenues- Onboard and other: $1.49 billion versus the five-analyst average estimate of $1.45 billion. The reported number represents a year-over-year change of +11.1%.
Revenues- Passenger ticket: $3.34 billion versus $3.36 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Shares of Royal Caribbean have returned -5.1% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Royal Caribbean (RCL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Royal Caribbean Cruises Q2 26 Earnings Conference Call At 10:00 AM ET

(RTTNews) - While reporting financial results for the second quarter on Tuesday, vacation company Royal Caribbean Cruises Ltd. (RCL) initiated its adjusted earnings and revenue guidance for the third quarter. The company also raised its adjusted earnings outlook for the full-year 2026, while trimming annual revenue growth.
The company said increase in earnings expectations reflects the stronger-than-expected second quarter performance and an improved outlook for the remainder of the year.
For the third quarter, the company expects adjusted earnings in a range of $6.26 to $6.36 per share, based on current fuel pricing, interest rates and currency exchange rates, on revenue growth of 8 percent.
Looking ahead to fiscal 2026, the company now projects adjusted earnings in a range of $17.73 to $17.87 per share on revenue growth of 9 percent. Previously, the company expected adjusted earnings in the range of $17.10 to $17.50 per share on revenue growth of 10 percent.
In Tuesday's pre-market trading, RCL is trading on the NYSE at $298.80, down $7.83 or 2.55 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.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 Cruises Boosts FY26 Adj. EPS Outlook - Update

(RTTNews) - Royal Caribbean Cruises Ltd. (RCL) announced earnings for second quarter that Drops, from last year
The company's bottom line came in at $1.128 billion, or $4.20 per share. This compares with $1.210 billion, or $4.41 per share, last year.
Excluding items, Royal Caribbean Cruises Ltd. reported adjusted earnings of $1.130 billion or $4.21 per share for the period.
The company's revenue for the period rose 6.5% to $4.832 billion from $4.538 billion last year.
Royal Caribbean Cruises Ltd. earnings at a glance (GAAP) :
-Earnings: $1.128 Bln. vs. $1.210 Bln. last year. -EPS: $4.20 vs. $4.41 last year. -Revenue: $4.832 Bln vs. $4.538 Bln last year.
-Guidance: Next quarter EPS guidance: $ 6.26 To $ 6.36 Full year EPS guidance: $ 17.73 To $ 17.87 Full year revenue guidance: 9 %
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 Ltd. Q2 Profit Declines

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.02%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.32%. September E-mini S&P futures (ESU26) rose +0.02%, and September E-mini Nasdaq futures (NQU26) fell -0.33%.
Stock indexes settled mixed on Monday, with the Dow Jones Industrial Average posting a 1-week high and the Nasdaq 100 falling to a 2.5-month low. The weakness in chipmakers and AI-infrastructure stocks on Monday weighed on the Nasdaq 100 and limited gains in the broader market. Investors rotated out of semiconductor and AI-infrastructure stocks on Monday and into beaten-down sectors, such as software.
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Stocks initially jumped on Monday after the US and Iran held off on attacks for a third straight day, easing geopolitical risks, pushing crude oil prices sharply lower, and helping lift global stock and bond markets. On Sunday, Mike Waltz, US ambassador to the United Nations, said the US is giving diplomacy “some space.” The plunge in crude oil prices on Monday knocked the 10-year T-note yield down -4 bp to 4.64%.
Monday’s US economic news showed strength in the economy and is supportive of stocks after US Jun capital goods new orders nondefense ex-aircraft, a proxy for capital spending, rose +0.9% m/m, stronger than expectations of +0.7% m/m.
Sep WTI crude oil prices (CLU26) plunged by more than -7% on Monday as tensions eased in the Middle East after the US held off against further airstrikes on Iran for a third straight day and Iran signaled it was refraining from any retaliation as it held negotiations with Oman over the Strait of Hormuz.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 38% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets settled higher on Monday. The Euro Stoxx 50 climbed to a 2.5-week high and closed up +0.02%. China's Shanghai Composite closed up +1.15% on Friday. Japan's Nikkei-225 Stock Average closed up +0.50%.
Interest Rates
September 10-year T-notes (ZNU6) on Monday closed up +8 ticks. The 10-year T-note yield fell -3.6 bp to 4.641%. T-notes moved higher amid Monday’s -7% plunge in crude oil prices, which eased inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.201% on Monday. Weak demand for the Treasury’s $70 billion auction of 5-year T-notes limited gains in T-notes as the auction had a bid-to-cover ratio of 2.28, below the 10-auction average of 2.35 and the lowest in 3.75 years.
European government bond yields moved lower on Monday. The 10-year German bund yield fell -3.9 bp to 3.133%. The 10-year UK gilt yield fell -3.5 bp to 4.997%.
The German Jul IFO business confidence index rose +0.9 to a 5-month high of 86.6, stronger than expectations of 86.0.
ECB Governing Council member Peter Kazimir said "he remains of the view that the ECB will have to raise interest rates at least one more time" to ensure that inflation risks don't spin out of control.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated on Monday, weighing on the broader market. The iShares Semiconductor ETF (SOXX) fell to a 1-week low and closed down more than -2%. Sandisk (SNDK) closed down more than -12% to lead losers in the S&P 500 and Nasdaq 100, and Advanced Micro Devices (AMD) and ASML Holding NV (ASML) closed down more than -5%. Also, Western Digital (WDC), Lam Research (LRCX), and Seagate Technology Holdings Plc (STX) closed down more than -4%, and Micron Technology (MU), Applied Materials (AMAT), and KLA Corp (KLAC) closed down more than -3%. In addition, Marvell Technology (MRVL) closed down more than -2%.
Energy producers and service providers moved lower on Monday amid the -7% decline in crude oil prices. Devon Energy (DVN), Diamondback Energy (FANG), and Occidental Petroleum (OXY) closed down more than -4%, and APA Corp (APA), ConocoPhillips (COP), and Haliburton (HAL) closed down more than -3%. Also, Chevron (CVX) closed down more than -2%, and ExxonMobil Holdings (XOM) and SLB Ltd (SLB) closed down more than -1%.
Software stocks rallied on Monday, a supportive factor for the overall market. Atlassian (TEAM) closed up more than +10%, and Workday (WDAY) closed up more than +9% to lead gainers in the S&P 500. Also, Thomson Reuters (TRI) closed up more than +8%, and Autodesk (ADSK) and Palantir Technologies (PLTR) closed up more than +7%. In addition, ServiceNow (NOW) closed up more than +6%, and Salesforce (CRM) closed up more than +6% to lead gainers in the Dow Jones Industrials. Finally, Adobe (ADBE) closed up more than +5%, Oracle (ORCL) closed up more than +4%, Intuit (INTU) and Datadog (DDOG) closed up by more than +2%, and Microsoft (MSFT) closed up by more than +1%.
Airline stocks and cruise line operators moved higher on Monday after crude oil prices plunged more than -7%. American Airlines Group (AAL), Carnival (CCL), Norwegian Cruise Line Holdings (NCLH), and Royal Caribbean Cruises (RCL) closed up more than +3%, and Alaska Air Group (ALK) closed up more than +2%. Also, United Airlines Holdings (UAL) and Delta Air Lines (DAL) closed up more than +1%, and Southwest Airlines (LUV) closed up +0.67%.
CH Robinson Worldwide (CHRW) closed down more than -6%, adding to last Friday’s -9% plunge, to lead trucking and freight companies lower after a Dallas jury awarded $604 million in compensatory damages against the company and two other defendants for a verdict related to a trucking accident. Also, FedEx Freight Holding Company (FDXF) and Marten Transport (MRTN) closed down more than -4%, and Arcbest (ARCB) closed down more than -3%. In addition, Old Dominion Freight Line (ODFL), Knight-Swift Transportation (KNX), JB Hunt Transport (JBHT), and XPO Inc (XPO) closed down more than -2%.
MapLight Therapeutics (MPLT) closed down more than -71% after posting results from a mid-stage trial of its experimental therapy to treat schizophrenia, which Stifel said did not meet the “upside case” scenario.
Nvidia (NVDA) closed down more than -4% to lead losers in the Dow Jones Industrials after announcing it had made a “substantial” investment in AI startup Safe Superintelligence.
Forte Biosciences (FBRX) closed up more than +39% after Argenx SE agreed to buy the company for about $2.2 billion, or $77 a share.
D-Wave Quantum (QBTS) closed up more than +20% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $30.
IonQ (IONQ) closed up more than +9% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $60.
Baker Hughes (BKR) closed up more than +6% after reporting Q2 revenue of $6.74 billion, better than the consensus of $6.51 billion.
Rocket Lab Corp. (RKLB) closed up more than +4% after KGI Securities upgraded the stock to outperform from neutral with a price target of $107.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mixed as AI Angst Offsets Easing Geopolitical Tensions

The following companies are expected to report earnings prior to market open on 07/28/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
Coca-Cola Company (KO)is reporting for the quarter ending June 30, 2026. The beverages company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.92. This value represents a 5.75% increase compared to the same quarter last year. In the past year KO has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 6.17%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for KO is 25.23 vs. an industry ratio of 11.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Boeing Company (BA)is reporting for the quarter ending June 30, 2026. The aerospace and defense company's consensus earnings per share forecast from the 6 analysts that follow the stock is $-0.34. This value represents a 72.58% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for BA is -634.91 vs. an industry ratio of -0.20.
S&P Global Inc. (SPGI)is reporting for the quarter ending June 30, 2026. The securities exchange company's consensus earnings per share forecast from the 4 analysts that follow the stock is $4.49. This value represents a 1.35% increase compared to the same quarter last year. SPGI missed the consensus earnings per share in the 4th calendar quarter of 2025 by -0.46%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for SPGI is 23.21 vs. an industry ratio of 22.20, 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 June 30, 2026. The communications company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.76. This value represents a 26.67% increase compared to the same quarter last year. In the past year GLW has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2026 Price to Earnings ratio for GLW is 46.12 vs. an industry ratio of 26.20, 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 June 30, 2026. The transportation company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.65. This value represents a 6.45% increase 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 2026 Price to Earnings ratio for UPS is 16.17 vs. an industry ratio of 19.30.
Illinois Tool Works Inc. (ITW)is reporting for the quarter ending June 30, 2026. The machinery company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.80. This value represents a 8.53% increase compared to the same quarter last year. In the past year ITW has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 4.31%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for ITW is 24.89 vs. an industry ratio of -7.30, 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 June 30, 2026. The leisure (recreational) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $3.97. This value represents a 9.36% decrease compared to the same quarter last year. RCL missed the consensus earnings per share in the 4th calendar quarter of 2025 by -0.36%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for RCL is 16.98 vs. an industry ratio of -213.00, 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 June 30, 2026. The chemical company's consensus earnings per share forecast from the 6 analysts that follow the stock is $3.56. This value represents a 5.33% increase compared to the same quarter last year. SHW missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -10.11%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for SHW is 26.95 vs. an industry ratio of 16.90, 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 June 30, 2026. The reit company's consensus earnings per share forecast from the 4 analysts that follow the stock is $2.65. This value represents a 1.92% increase compared to the same quarter last year. In the past year AMT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 7.17%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for AMT is 15.64 vs. an industry ratio of 14.30, 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 June 30, 2026. The chemical company's consensus earnings per share forecast from the 9 analysts that follow the stock is $2.08. This value represents a 10.05% 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 2026 Price to Earnings ratio for ECL is 32.85 vs. an industry ratio of 16.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Hilton Worldwide Holdings Inc. (HLT)is reporting for the quarter ending June 30, 2026. The hotel company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.29. This value represents a 4.09% increase compared to the same quarter last year. In the past year HLT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.55%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for HLT is 35.99 vs. an industry ratio of 18.90, implying that they will have a higher earnings growth than their competitors in the same industry.
PACCAR Inc. (PCAR)is reporting for the quarter ending June 30, 2026. The auto (domestic) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.33. This value represents a 2.92% decrease compared to the same quarter last year. In the past year PCAR has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2026 Price to Earnings ratio for PCAR is 23.36 vs. an industry ratio of 26.90.
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 July 28, 2026 : KO, BA, SPGI, GLW, UPS, ITW, RCL, SHW, AMT, ECL, HLT, PCAR

Key Points
Norwegian Cruise Line shares have pulled back, largely on the impact of Mideast tensions on fuel costs and passenger demand.
That's not to say Norwegian will again disappoint when it next reports quarterly results this week, but shares in competitor Carnival may represent a stronger long-term opportunity.
Similarly priced but with lower leverage and a 1.7% dividend, Carnival may beat out Norwegian Cruise Line when it comes to risk/reward proposition.
Over the past 12 months, shares in cruise line operator Norwegian Cruise Line (NYSE: NCLH) have fallen by nearly 19%. As has been the case with other cruise ship stocks, concerns about the impact of Mideast geopolitical tensions on fuel prices and passenger demand played a big part in these declines.
Later this week, Norwegian Cruise Line reports its latest quarterly results. However, whether the results are strong or weak, I believe there is a much stronger long-term opportunity in this sector than Norwegian.
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Norwegian Cruise Line reports results for the June quarter pre-market on July 30. Sell-side estimates call for earnings of $0.39 per share, or around a 23.5% decrease from the prior year's quarter. Already aware of forecast declines, investors likely will pay greater attention to guidance updates.
Last quarter, again due to the Mideast conflict, Norwegian's management walked back its full-year 2026 forecast, anticipating earnings between $1.45 and $1.79 per share, a far cry from prior guidance, which called for full-year earnings as much as $2.38 per share. Still, even a slight adjustment, such as tightening the earnings range, could have a strong positive impact on sentiment toward the stock.
Although there could be a post-earnings rally, if the latest numbers prove better than anticipated, I would still skip Norwegian shares.
Trading for around 11 times forward earnings, it trades at a steep discount to competitor Royal Caribbean Cruises (NYSE: RCL), which trades for 17 times forward earnings. However, you can also pick up Carnival (NYSE: CCL) at a similar forward multiple as Norwegian. Not only that, Carnival is far less levered and currently pays a dividend, with a forward yield of around 1.7%.
Simply put, Carnival Cruise Lines stock represents a stronger risk/reward proposition and hence should be considered a contender for those bullish on the cruise line industry in the long term.
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Thomas Niel has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. The Motley Fool has a disclosure policy.
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 Ltd.

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