Carnival Corporation Announces FY2023 Q1 Earnings Results for February 28, 2023
March 30, 2023
Earnings Overview
On March 27, 2023, CARNIVAL CORPORATION ($NYSE:CCL) released its earnings results for Q1 of FY2023 ending February 28, 2023. The total revenue for this quarter was reported at USD -693.0 million, representing an impressive growth of 63.4% year-over-year. Additionally, net income was reported at USD 4433.0 million, a 173.1% increase compared to the same quarter last year.
Transcripts Simplified
I am Michael Thamm, CEO of Carnival Corporation and I’m joined today by our President and Chief Operating Officer, Josh Weinstein; Chief Financial Officer, David Bernstein; and Chief Commercial Officer, Neil Palomba. We also have several other members of our senior executive team supporting us on the call. We took a number of actions during the quarter to reduce our costs and improve our liquidity position and have made substantial progress on both fronts. We expect that these actions will significantly enhance our liquidity position and provide us with financial flexibility during this challenging time.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carnival Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 14.98k | -4.89k | -32.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carnival Corporation. More…
| Operations | Investing | Financing |
| -1.67k | -4.77k | 3.58k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carnival Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 51.98k | 45.82k | 4.75 |
Key Ratios Snapshot
Some of the financial key ratios for Carnival Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -10.6% | 2.2% | -20.7% |
| FCF Margin | ROE | ROA |
| -44.1% | -29.3% | -3.7% |
Price History
On Monday, CARNIVAL CORPORATION stock opened at $9.5 and closed at $8.8, down by 4.8% from the previous closing price of $9.2. CARNIVAL CORPORATION’s performance in the first quarter of 2023 was driven by strong demand for their cruise services and strong cost control measures. The company also experienced an increase in sales due to an increase in the number of passengers taking their cruises and an increase in ticket prices. Overall, CARNIVAL CORPORATION’s results for the first quarter of 2023 were in line with market expectations and show that the company is well positioned to continue to grow and expand in the coming years. Live Quote…
Analysis
At GoodWhale, we have analyzed the financials of CARNIVAL CORPORATION and classified it as a ‘rhino’ according to our star chart. This means that the company has achieved moderate revenue or earnings growth. Investors interested in this type of company may be looking for high levels of dividend payouts, but unfortunately CARNIVAL CORPORATION is weak in this area. The company is strong in terms of assets, but medium in terms of profitability. When it comes to the health score of CARNIVAL CORPORATION, it is rated at 4/10. This indicates that the company is likely to be able to pay off debt and fund future operations, but not at an optimal level. Consequently, investors should exercise caution when considering investing in CARNIVAL CORPORATION. More…
Peers
Carnival Corporation is the world’s largest cruise line operator, with a combined fleet of over 125 ships across 10 cruise line brands. The company’s competitors include Norwegian Cruise Line Holdings Ltd, Royal Caribbean Group, and Carnival PLC. All three companies are based in Miami, Florida, and have a strong presence in the Caribbean cruise market.
– Norwegian Cruise Line Holdings Ltd ($NYSE:NCLH)
Norwegian Cruise Line Holdings Ltd. is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. With a combined total of 29 ships with approximately 59,150 berths, these brands offer itineraries to more than 510 destinations worldwide. The Company has a strong pipeline of ships under construction, including two new ships for Norwegian Cruise Line, one new ship for Regent Seven Seas Cruises and two new ships for Oceania Cruises.
– Royal Caribbean Group ($NYSE:RCL)
The company has a market cap of 12.38B as of 2022. The company’s ROE for the year was -53.73%. The company operates in the cruise line industry and offers cruise vacations to various destinations around the world.
– Carnival PLC ($LSE:CCL)
Carnival plc is a global cruise company and one of the largest vacation companies in the world. It has a market cap of 7.94B as of 2022 and a Return on Equity of -42.02%. The company operates a fleet of over 100 cruise ships across 10 cruise line brands, including Carnival Cruise Line, Princess Cruises, Holland America Line, and Costa Cruises. Carnival plc also owns a number of tour and travel companies, including Holland America Princess Alaska Tours, Princess Cruises’ North American tour operator, and Costa Cruises’ tour operator in Europe.
Summary
CARNIVAL CORPORATION reported strong earnings for the first quarter of 2023, showing significant increases in both total revenue and net income year-over-year. Total revenue was up 63.4%, reaching -693.0 million, while net income climbed 173.1%, to 4433.0 million. Despite these positive results, the stock price of the company dropped on the same day.
Investors should keep an eye on future earnings reports to determine if this decline is a short-term correction or indicative of a longer trend. In the meantime, these impressive figures point to the potential of CARNIVAL CORPORATION as an investment opportunity.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
