- FY ALBD Forecast: Carnival boosts full-year Available Lower Berth Days (ALBD) forecast to 95.6 million.
- Fourth Quarter Forecast: Sees Available Lower Berth Days at 24.0 million, meeting estimates.
- Third Quarter Results:
- Adjusted Earnings Per Share (EPS): $1.27 vs. 86 cents year-on-year (y/y), estimate $1.17
- Actual EPS: $1.26 vs. 79 cents y/y
- Revenue: $7.90 billion, up 15% y/y, estimate $7.81 billion
- Adjusted Net Income: $1.75 billion, up 48% y/y, estimate $1.6 billion
- Adjusted EBITDA: $2.82 billion, up 27% y/y, estimate $2.67 billion
- Available Lower Berth Days: 25.2 million, up 6.3% y/y, meeting the estimate
- Passenger Cruise Days: 28.1 million, up 8.9% y/y, estimate 27.99 million
- Passengers Carried: 3.9 million, up 8.3% y/y, estimate 4.03 million
- Occupancy: 112% vs. 109% y/y, estimate 111%
- Full Year 2024 Guidance: Raised adjusted EBITDA guidance to approximately $6.0 billion, up over 40% compared to 2023.
- Debt Improvement: Expecting better than a two-turn improvement in net debt to adjusted EBITDA for 2024, approaching 4.5x.
- CEO’s Comment: “Strong improvements led by high-margin, same-ship yield growth, driving a 26% improvement in unit operating income, the highest level in fifteen years,” said CEO Josh Weinstein.
- Analyst Ratings: 20 buys, 3 holds, 2 sells
Carnival Corp on Smartkarma
Analyst coverage of Carnival Corp on Smartkarma reveals contrasting sentiments from top independent analysts. Baptista Research, in their report “Carnival Corporation & plc: Expansion of Market Share through Strategic Brand Realignment! – Major Drivers,” highlights the company’s significant achievements and growth strategies. The report notes record revenues and operational success in the second quarter of 2024, with substantial per diem growth driving yields up by over 12%.
In contrast, Value Investors Club presents a more cautious outlook in their report on Carnival Corporation Plc. Titled “Carnival Corporation Plc (CCL) – Tuesday, Mar 5, 2024,” the analysts acknowledge the company’s rebound in revenues post-COVID but emphasize ongoing challenges with cash flow and debt sustainability. This discrepancy in analyst sentiment underscores the complexity of evaluating Carnival Corp‘s future prospects in the cruise industry.
A look at Carnival Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
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
Based on the Smartkarma Smart Scores, Carnival Corp‘s long-term outlook is positive overall. With strong scores in Growth and Momentum, the company appears well-positioned for future expansion and market performance. The high Growth score signals potential for increased revenue and market share, while the Momentum score suggests the company is currently showing strong price performance relative to its peers.
However, Carnival Corp‘s lower scores in Dividend and Resilience may present challenges. The low Dividend score indicates a lower level of dividend payouts to investors, which may impact income-seeking investors. Additionally, the Resilience score suggests the company may face some vulnerability to economic downturns or industry-specific challenges. Investors may need to consider these factors when evaluating Carnival Corp‘s long-term investment potential.
Summary of Carnival Corp: Carnival Corporation, a leading cruise line operator, offers cruises to various vacation destinations worldwide. In addition to cruise operations, the company also owns and operates hotels and lodges. Publicly traded under the ticker symbols CCL and 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.
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