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What recession? Consumers spend thousands of cheap cruise vacations



For two titans from the cruise line industry, talking about an American recession in 2020 is just folly. Nothing in their boardroom, crunching or chatting with passengers aboard hulking ships, suggests that doom and gloom are on the horizon.

<p class = "canvas atomic canvas text Mb (1

.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "In other words, touch down, & nbsp; Wall Street doomsayers . "data-reactid =" 16 "> In other words, touch down, Wall Street judges.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" I hear that it is indicative of recession and decline in the pockets of the economy. The coal miners may have a bad year or something in industrial machinery, but & nbsp; consumer is alive and well "longtime Norwegian Cruise Line ( NCLH ) CEO Frank Del Rio told Yahoo Finance" The First Trade . “Del Rio says that consumers spend freely on his ships and bookings for 2020 have a strong start. "data-reactid =" 17 ">" I hear that there are signs of recession and decline in the economy's pockets. The coal miners may have one or more years in industrial machinery, but the consumer is alive and well, ”said longtime CEO of Norwegian Cruise Line (NCLH) Frank Del Rio at Yahoo Finance & # 39; The First Trade. # 39; Del Rio says consumers are spending free on the ships and booking for 2020 is off to a strong start.

7. In November, Norwegian Cruise Line reported adjusted earnings of $ 2.23 per share for the third quarter, hitting estimates of $ 2.16 per share. Revenue was affected by SEK 6 per share due to cancellations of travel, itinerary changes and relief work arising from Hurricane Dorian. Net return – a key metric for cruise lines – rose 3.9%, ahead of Norway's guidance back in August by 215 basis points.

The company narrowed its earnings performance for the entire year to $ 5.05 per share from $ 5.00 to $ 5.10 previously. [19659004] The gigantic cruise line operator said gross returns rose an impressive 6.4% in the quarter, driven by strong demand for cruises across Europe and the Caribbean. Total sales increased to $ 3.22 billion versus $ 3.18 billion projections.

The "Norwegian Encore" as the newest cruise giant from the Meyer shipyard in Papenburg is slowly being transported backwards, pulled by tugs, at Ems into the North Sea. The ship can accommodate 4,000 passengers. (Photo by Martin Remmers / picture alliance via Getty Images)

Norwegian is committed to continuing consumer power. It has 10 new cruise ships to be built and expanded aggressively to Alaska.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) -sm" type = "text" content = "By 2019, 30 million passengers are expected to travel on cruise, compared to 28.2 million in 2018, according to & nbsp; Cruise Lines International Association . "data-reactid =" 33 "> In 2019, 30 million passengers are expected to cruise, compared to 28 , 2 million in 2018, according to the Cruise Lines International Association.

The positive tone of consumer spending was also shown by one of Norway's rivals.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Royal Caribbean & # 39; s ( RCL ) net return increased an impressive 6.4% in the third quarter, with revenue up to $ 3.1 billion from $ 2.8 billion a year ago. "Data-reactid =" 35 "> Royal Caribbean ( RCL's net return increased by an impressive 6.4% in the third quarter. Revenues improved to $ 3.1 billion from $ 2.8 billion a year ago.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "President of the Caribbean and & nbsp; CEO Richard Fain told Yahoo Finance & nbsp; that consumers continue to spend heavily on trips on his ships. He sees no signs of US consumer retrenchment. "data-reactid =" 36 "> The chairman and CEO of Royal Caribbean, Richard Fain, told Yahoo Finance that consumers continue to spend heavily on trips on his ships. He sees no signs that the American consumer is going to resign.

"I hear what people are saying about the economy, but so far we have certainly seen no sign of anything but very positive demand looking ahead," Fain said.

Fain said that bookings for 2020 have already started "outstanding" for American travelers. Tours are booked at higher prices year over year.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Brian Sozzi is a great editor and co-anchor of The First Trade at Yahoo Finance Follow him on Twitter @BrianSozzi "data-reactid =" 39 "> Brian Sozzi is editor and major anchor of The First Trade at Yahoo Finance. Follow him on Twitter @BrianSozzi

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – – sm "type =" text "content =" Read the latest financial and business news from Yahoo Finance "data-reactid =" 40 "> Read the latest financial and business news from Yahoo Finance [19659025] < p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance at [19659043] Twitter Facebook Instagram Flipboard SmartNews LinkedIn [19659016] YouTube and reddit . "data-reactid =" 46 "> [19659013] Follow Yahoo Finance on Twitter Facebook Instagram Flipboard SmartNews LinkedIn YouTube and reddit .


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