Richard Fain says Royal Caribbean will not panic and boost its share buyback activity after a weaker-than-projected earnings outlook sent its stock spinning this week.
The cruise giant reported stronger-than-forecast fourth-quarter results but its forward guidance dragged its stock down by 15% on Tuesday. Fain says the $200m invested in the company’s own shares was appropriate and he is happy with the expected earnings growth over the next couple of years.
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