Cruise from Port Canaveral Orlando with Carnival

Table Of Content

• Carnival Corporation Begins Private Offering Of EUR 500 Mln In Sr. Notes
• Carnival Corp & plc paired
• NYSE: CCL
• Stocks That Will Be Hit Hardest by the 2024 Baltimore Bridge Disaster
• Carnival Corporation EVP Joins International Initiative to Reduce Food Loss
• Wall Street Favorites: 3 Cruise Stocks with Strong Buy Ratings for April 2024

Furthermore, a net unfavorable foreign currency translational impact and increased port expenses each contributed $25 million to the overall rise in expenses. Carnival reported adjusted net losses of $770 million, or 65 cents per share, on $4.3 billion in revenue. Operating costs and expenses totaled $3.4 billion during the quarter, compared with costs of $1.6 billion in the third quarter 2021. However, the company is righting the ship by reducing its debt and improving profitability. The company reported a net loss based on generally accepted accounting principles (GAAP) of $770 million, and an adjusted net loss of $688 million. However, it continued to make progress on the top line, with sequential revenue growth of 80% and bookings up 15% from the second quarter.

Carnival Corporation Begins Private Offering Of EUR 500 Mln In Sr. Notes

Reuben Gregg Brewer has no position in any of the stocks mentioned. When people have a little extra cash, they indulge in offerings from these companies. The SPDR S&P 500 ETF Trust (SPY -0.87%) was the largest holder at nearly 100 million shares.

Carnival Stock Is Up Over 80% This Year. Expect More Gains, Analyst Says. - Barron's

Carnival Stock Is Up Over 80% This Year. Expect More Gains, Analyst Says..

Posted: Mon, 27 Nov 2023 08:00:00 GMT [source]

Carnival Corp & plc paired

If You Invested $1,000 in Carnival Stock in 2019, This Is How Much You Would Have Today - Yahoo Finance

If You Invested $1,000 in Carnival Stock in 2019, This Is How Much You Would Have Today.

Posted: Mon, 22 Jan 2024 08:00:00 GMT [source]

Three new ships are in development, poised to generate heightened interest and demand for their respective brands. The planned improvements aim to elevate the guest experience significantly, resulting in a substantial revenue boost across the brand while simultaneously reducing its environmental impact and enhancing the performance. Shares of Carnival Corporation & plc CCL have rallied 42.5% in the past year compared with the industry’s 11% growth. The uptrend can be attributed to improved booking trends, courtesy of solid demand and increased advertising activities. The earnings estimate for second-quarter fiscal 2024 suggests 96.8% growth from the year-ago reported figure.

NYSE: CCL

As noted above, 3.5 million new-to-cruise guests came aboard a Carnival ship in 2023. The Defiance Hotel, Airline, and Cruise ETF (CRUZ 0.13%) had a much more meaningful allocation of Carnival stock. It was the fund's fourth-largest holding at 7% of the total, making it a better means of gaining passive exposure to the cruise ship operator and other travel and tourism stocks. Carnival has undertaken several actions to improve profitability, which it expects to start achieving in the second half of 2023.

CARNIVAL CORPORATION & PLC REPORTS RECORD FIRST QUARTER REVENUES AND ALL-TIME RECORD BOOKING LEVELS

On average, they expect the company's share price to reach $21.47 in the next year. This suggests a possible upside of 52.1% from the stock's current price. View analysts price targets for CCL or view top-rated stocks among Wall Street analysts. For second-quarter fiscal 2024, it expects adjusted cruise costs excluding fuel per ALBD (in constant currency) to increase approximately 3% year over year. The increase includes an unfavorable impact of 1.3 percentage points attributed to lower ALBDs resulting from the Red Sea rerouting, as certain ships repositioned without guests. To be fair, Disney offers discounts for buying multi-day passes, but with rates like that, you can see why consumers are increasingly looking to cruises.

Earnings and Valuation

The company operates nine cruise line brands with over 90 ships visiting more than 700 ports annually. Shares of cruise ship company Carnival Corp. (CCL -0.42%) sank by 10.6% in January, according to data provided by S&P Global Market Intelligence. Other cruise and travel stocks performed comparably during most of the month. However, Carnival stock dropped more than its peers later in the month, signaling something specific to the company. In 2023, we captured over 3.5 million new-to-cruise guests and remain well-positioned to continue to take share from land-based alternatives.

Stocks That Will Be Hit Hardest by the 2024 Baltimore Bridge Disaster

This is a very good story for Carnival, and for the cruise industry more broadly. And it is important to note that cruises are usually booked well in advance. Carnival, for example, locked in a record $6.4 billion in customer deposits in the final quarter of 2023, up 31% since the fourth quarter of 2019. It is likely that many of the customers who have made deposits will be new-to-cruise customers. And while customers can cancel, most of the deposits the cruise line has collected will likely turn into full payment.

Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Atypically high occupancy levels are helping Carnival's profitability and allowing it to reduce its substantial debt load at an encouraging pace. In fact, on Jan. 22 it announced that it had repaid all of its second-lien debt, which is great news. These notes weren't due until 2027, but they had a nearly 10% interest rate.

In other words, we are gaining momentum in our ability to close the unwarranted value gap to land-based alternatives. And to aid in that effort, we can further champion the fact that while many land-based alternatives have pulled back on service levels, we still deliver incredible service to our guests, thanks to our amazing crew. This pairs exceedingly well with the expansive amount of guest-pleasing amenities offered on board our newer fleet.

That has helped the company increase occupancy levels, ending 2023 at 98% of the pre-COVID average. At the same time, Carnival has been adjusting its business to push customers toward more on-board spending. According to the company, 2023 unit-adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) exceeded 2019 levels. You can buy shares of Carnival directly through any brokerage account.

Carnival has been working hard to shore up its financial foundation since it resumed cruises in the middle of 2021. It has been steadily repaying debt and plans to continue doing so. It also continues to invest money to refine its fleet, which will see eight new ships delivered across its brands through 2025. Carnival (CCL -0.42%) is the largest cruise line in the world.