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© Reuters.

Investing.com – Cruise companies rode the wave on Wednesday as positive earnings outlook for Royal Caribbean Cruises (NYSE:RCL) helped drive the sector higher in midday trading.

Royal Caribbean jumped 6.6% after it reported adjusted earnings per share of $1.53 on revenue of $2.33 billion.

The company forecast its first-quarter net yield to increase 7.5% to 8%, which is key wave (prime cruising) season.

“This year our teams achieved record financial results while introducing four new vessels, acquiring Silversea Cruises, inaugurating two stunning cruise terminals and implementing Excalibur on about half of our fleet,” said Richard D. Fain, chairman and CEO. “By any measure 2018 was a particularly stellar year, and the strong Wave makes us optimistic about 2019 as well.”

Other cruise companies were also higher, with Carnival (NYSE:CCL) up 1.3% and Norwegian Cruise Line Holdings (NYSE:NCLH) rising 2.8%.

The S&P 500 Consumer Discretionary sector increased 1.3%.

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