- Adjusted EPS (Earnings Per Share) beat estimates at 11 cents versus the expected loss of 1.7 cents.
- Compared to last year’s loss of 31 cents per share, this quarter shows significant improvement.
- Reported EPS is 7.0 cents, contrasting positively against the previous year’s loss of 32 cents per share.
- Revenue reached $5.78 billion, marking an 18% year-over-year increase and surpassing the $5.69 billion estimate.
- Adjusted net income stands at $134 million, a substantial turnaround from last year’s $395 million loss.
- Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was $1.20 billion, up 76% year-over-year, outperforming the $1.07 billion estimate.
- Available lower berth days were 23.5 million, a 5.4% increase year-over-year, meeting the estimates.
- Passenger cruise days totaled 24.3 million, an 11% rise compared to last year, matching the estimates.
- Passengers carried was 3.3 million, up 10% year-over-year, exceeding the estimated 3.27 million.
- Occupancy rates rose to 104%, from 98% last year, beating the 103.3% estimate.
- The company is confident in continued strong demand trends, expecting net yields to surpass ten percent.
- Projected substantial free cash flow and improvements in leverage metrics and the balance sheet due to effective operational execution.
- There are 20 buy ratings, 3 hold ratings, and 2 sell ratings for the company’s stock.
Carnival Corp on Smartkarma
Analysts on Smartkarma have been closely monitoring Carnival Corporation Plc, the world’s largest cruise ship operator, since its resurgence in July 2021 after a 15-month hiatus due to the COVID-19 pandemic. Value Investors Club highlighted the challenges the company still faces with cash flow and debt sustainability despite a revenue rebound driven by strong post-COVID travel demand.
On a more positive note, Baptista Research provided bullish insights on Carnival Corporation’s financial performance, with records set in all four quarters of 2023. The company’s brand strengthening efforts seem to be paying off, evident from increased revenues, booking levels, and customer deposits reaching all-time highs. Analysts remain optimistic about the company’s deleveraging and refinancing efforts, showcasing an encouraging outlook for Carnival Corporation’s future.
A look at Carnival Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Investors examining the Smartkarma Smart Scores for Carnival Corp can glean insight into the company’s long-term prospects. With a strong Growth score of 4 and Momentum score of 4, Carnival Corp shows promising signs of future expansion and market performance. These scores indicate that the company is positioned for sustainable growth and has positive market momentum.
However, factors like the Dividend score of 1 and Resilience score of 2 suggest some areas of caution for investors. The low Dividend score may deter income-focused investors, while the Resilience score indicates potential vulnerabilities in the face of economic uncertainties. Overall, Carnival Corp‘s Smart Scores highlight a mixed outlook, with strong indicators for growth and market momentum, but potential weaknesses in dividend payouts and resilience.
Summary: Carnival Corporation is a cruise ship company that offers cruises to various destinations globally. The company also owns and operates hotels and lodges. It is dually listed with CCL LN.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
