Wedbush analyst James Hardiman notes that although the ultimate impact of the 2019 Hurricane Season is still playing out, it is "safe to say" that the impact on the cruise industry will be more significant than what was experienced in 2018, but has been meaningfully less than 2017. For the theme park space, the 2019 impact has been "fairly immaterial" so far, and weather is likely trending better than a year ago so far in Q3. Thus far in 2019, his analysis suggests that Hurricane Dorian has impacted 31 sailings among the primary lines of Carnival (CCL), Royal Caribbean (RCL), and Norwegian Cruise Line (NCLH) with four cancelled cruises and a total of 44 lost sailing days. Among the companies, the impact has been most acutely been felt by Royal Caribbean, followed by Carnival and finally Norwegian. Across his covered portfolio of theme parks, Hardiman estimates that only SeaWorld (SEAS) Orlando will have any direct exposure to heavy rainfall and winds from Dorian.

Wells Fargo raised the firm's price target on Royal Caribbean to $159 from $153 and keeps an Overweight rating on the shares. Royal Caribbean reported a solid Q1 EBITDA beat and provided upbeat bookings commentary, with no signs of slowing demand or geopolitical impact, the analyst tells investors in a research note.

Susquehanna raised the firm's price target on Royal Caribbean to $160 from $150 and keeps a Positive rating on the shares. The firm raised its 2024 adjusted EPS guidance yet again, the liner continues to execute on its Trifecta Plan, with a strong 2024 Wave Season, new technology, and private destinations all continuing to support the the shares.

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Sees Q2 fuel consumption 416,000 metric tons.

Reports Q1 revenue $3.7B, consensus $3.69B. Load factors in the first quarter were 107%. "Wow, what a great start to the year! Demand for our leading brands and the incredible experiences they deliver continues to be very robust, resulting in outperformance in the first quarter, a further increase of full year earnings guidance, and 60% expected earnings growth year over year," said Jason Liberty, president and CEO, Royal Caribbean Group. "Building on this momentum, we expect to achieve all our Trifecta financial goals in 2024, which allows us to focus on a new era of growth to drive long-term shareholder returns and take a greater share of the rapidly growing $1.9 trillion global vacation market."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.