Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Royal Caribbean Cruises / Equity Bottom-Up

<ul><li>Royal Caribbean Group is pushing its vacation strategy beyond the cruise ship after agreeing to acquire a 50% stake in Sandals Resorts International for $3 billion, a transaction expected to close in early 2027.</li><li>The proposed investment would give Royal Caribbean exposure to Sandals’ portfolio of 20 all-inclusive Caribbean resorts and extend a strategy already visible through Perfect Day destinations, Royal Beach Clubs, and other land-based experiences.</li><li>The timing is notable because Royal Caribbean is entering the transaction from a position of commercial strength: second-quarter 2026 revenue increased 6% year over year, adjusted EPS reached $4.21, and management expects full-year revenue growth of approximately 9%.</li></ul>

Royal Caribbean Group is pushing its vacation strategy beyond the cruise ship after agreeing to acquire a 50% stake in Sandals Resorts International for $3 billion, a transaction expected to close in early 2027.The proposed investment would give Royal Caribbean exposure to Sandals’ portfolio of 20 all-inclusive Caribbean resorts and extend a strategy already visible through Perfect Day destinations, Royal Beach Clubs, and other land-based experiences.The timing is notable because Royal Caribbean is entering the transaction from a position of commercial strength: second-quarter 2026 revenue increased 6% year over year, adjusted EPS reached $4.21, and management expects full-year revenue growth of approximately 9%.

Royal Caribbean’s $3 Billion Sandals Acquisition Could Reshape Vacations!

<ul><li>The Royal Caribbean Group reported second-quarter 2026 results that surpassed expectations, driven by a 6% increase in revenue year-over-year and adjusted earnings per share (EPS) of $4.21, which was $0.33 higher than guidance.</li><li>Capacity grew 5%, with 2.4 million vacations delivered, while net yields rose 1.2%, 100 basis points above projections.</li><li>The company highlighted strong close-in booking demand and elevated onboard spending, particularly for Caribbean sailings.</li></ul>

The Royal Caribbean Group reported second-quarter 2026 results that surpassed expectations, driven by a 6% increase in revenue year-over-year and adjusted earnings per share (EPS) of $4.21, which was $0.33 higher than guidance.Capacity grew 5%, with 2.4 million vacations delivered, while net yields rose 1.2%, 100 basis points above projections.The company highlighted strong close-in booking demand and elevated onboard spending, particularly for Caribbean sailings.

Royal Caribbean Group’s 2027 Bookings Hit Record Pricing — Can Its Demand Momentum Continue?

<ul><li>The Royal Caribbean Group reported first quarter 2026 results that surpassed both internal expectations and prior year performance, supported by a record Wave Season that underscored strong consumer demand across its portfolio.</li><li>Revenues increased by 11% year-over-year, with adjusted earnings per share reaching $3.60—33% higher than the previous year and $0.37 above guidance.</li><li>Demand remained healthy, driven by a rise in younger guests and repeat customers, while onboard spending and net yields also showed positive momentum, with net yields up 2%, exceeding the high end of guidance.</li></ul>

The Royal Caribbean Group reported first quarter 2026 results that surpassed both internal expectations and prior year performance, supported by a record Wave Season that underscored strong consumer demand across its portfolio.Revenues increased by 11% year-over-year, with adjusted earnings per share reaching $3.60—33% higher than the previous year and $0.37 above guidance.Demand remained healthy, driven by a rise in younger guests and repeat customers, while onboard spending and net yields also showed positive momentum, with net yields up 2%, exceeding the high end of guidance.

Royal Caribbean Group: Can 6.7% Capacity Growth Outrun Softer Mediterranean Demand?

<ul><li>Royal Caribbean Group's recent earnings report reflects a robust performance in 2025 and offers insight into its strategic plans for 2026.</li><li>The company showcased commendable growth in several areas, which provides a mixed but generally positive outlook for potential investors.</li><li>In 2025, Royal Caribbean Group achieved significant milestones, including delivering record revenue of nearly $18 billion and showing earnings growth of 33%.</li></ul>

Royal Caribbean Group's recent earnings report reflects a robust performance in 2025 and offers insight into its strategic plans for 2026.The company showcased commendable growth in several areas, which provides a mixed but generally positive outlook for potential investors.In 2025, Royal Caribbean Group achieved significant milestones, including delivering record revenue of nearly $18 billion and showing earnings growth of 33%.

Royal Caribbean Group’s Bold Expansion Play: Turning Cruises Into a Full-Scale Vacation Empire!

<ul><li>Royal Caribbean Group's third-quarter 2025 earnings showcased solid operational performance and strategic investments, positioning them to capture larger market share within the leisure travel industry.</li><li>The company recorded a rise in adjusted earnings per share (EPS) to $5.75, up 11% compared to the previous year, aided by increased demand and lower costs, significantly contributing to surpassing initial earnings expectations.</li><li>Net yields experienced a growth of 2.4%, driven primarily by strong close-in demand and increased guest satisfaction across all key itineraries.</li></ul>

Royal Caribbean Group's third-quarter 2025 earnings showcased solid operational performance and strategic investments, positioning them to capture larger market share within the leisure travel industry.The company recorded a rise in adjusted earnings per share (EPS) to $5.75, up 11% compared to the previous year, aided by increased demand and lower costs, significantly contributing to surpassing initial earnings expectations.Net yields experienced a growth of 2.4%, driven primarily by strong close-in demand and increased guest satisfaction across all key itineraries.

Royal Caribbean Group: Will Its European Cruise Expansion Be A Game Changer?

United States

Royal Caribbean Cruises Ltd. is a global cruise company operating a fleet of vessels in the cruise vacation industry. The Company operates through brands which primarily serve the contemporary, premium and deluxe segments of the cruise vacation industry, which also includes the budget and luxury segments.

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Royal Caribbean Cruises (RCL US)

Royal Caribbean’s $3 Billion Sandals Acquisition Could Reshape Vacations!

Royal Caribbean Group is pushing its vacation strategy beyond the cruise ship after agreeing to acquire a 50% stake in Sandals Resorts...

Baptista Research

Royal Caribbean Group’s 2027 Bookings Hit Record Pricing — Can Its Demand Momentum Continue?

The Royal Caribbean Group reported second-quarter 2026 results that surpassed expectations, driven by a 6% increase in revenue year-over-year and...

Baptista Research

Royal Caribbean Group: Can 6.7% Capacity Growth Outrun Softer Mediterranean Demand?

The Royal Caribbean Group reported first quarter 2026 results that surpassed both internal expectations and prior year performance, supported by a...

Baptista Research

Royal Caribbean Group’s Bold Expansion Play: Turning Cruises Into a Full-Scale Vacation Empire!

Royal Caribbean Group's recent earnings report reflects a robust performance in 2025 and offers insight into its strategic plans for 2026. The...

Baptista Research

Royal Caribbean Group: Will Its European Cruise Expansion Be A Game Changer?

Royal Caribbean Group's third-quarter 2025 earnings showcased solid operational performance and strategic investments, positioning them to capture...

Baptista Research

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