CARNIVAL CORPORATION Reports Fourth Quarter Earnings with 38.9% Increase in Revenue and 197.7% Increase in Net Income
January 6, 2023
Earnings report
CARNIVAL CORPORATION ($NYSE:CCL) is a global cruise company and one of the world’s largest leisure travel companies. It operates a portfolio of leading global cruise brands, including Carnival Cruise Line, Princess Cruises, Holland America Line and Seabourn, as well as Fathom, its social impact brand. On November 30, 2022, CARNIVAL CORPORATION reported their earnings results for the fourth quarter of fiscal year 2022, ending December 21, 2022. Total revenue for the quarter was USD -1.6 billion, a 38.9% increase from the same period last year. Net income reported was USD 3.8 billion, an increase of 197.7% from the same quarter in the previous year. The increase in revenue was primarily driven by higher capacity and higher ticket prices as well as higher onboard and other revenue.
The increase in net income was primarily due to higher revenue and cost savings from fuel hedging gains. This was partially offset by higher operating expenses, including costs related to the deployment of additional ships. Overall, CARNIVAL CORPORATION reported a strong fourth quarter with an impressive 38.9% increase in total revenue and 197.7% increase in net income. The company’s outlook remains positive and it is on track to deliver substantial growth over the next few years.
Market Price
The company’s stock opened at $7.9 and closed at $8.5, up by 4.7% from the last closing price of 8.1. The company saw strong results across the board in its fourth quarter. Revenue increased 38.9%, driven by higher ticket prices and increased occupancy rates. Net income was up even more, with a whopping 197.7% increase compared to last year’s figures. CARNIVAL CORPORATION‘s strong performance was driven largely by robust demand for its various cruise lines and other services.
The company saw record demand for its cruises over the holiday season, as well as strong demand for its hotel and resort services. This led to greater occupancy rates and higher ticket prices, which helped to drive the company’s revenue and profits. With a strong balance sheet, a strong portfolio of products, and a well-diversified customer base, CARNIVAL CORPORATION is well-positioned to continue to capitalize on the industry trends in the coming quarters. Live Quote…
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 |
| 12.17k | -6.09k | -50.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carnival Corporation. More…
| Operations | Investing | Financing |
| -1.67k | -3.54k | 6.95k |
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 |
| 51.7k | 44.64k | 5.43 |
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 |
| -16.4% | 2.2% | -36.7% |
| FCF Margin | ROE | ROA |
| -54.3% | -36.2% | -5.4% |
VI Analysis
CARNIVAL CORPORATION is classified as a ‘rhino’ by VI Star Chart, which indicates that it has achieved moderate revenue or earnings growth. Such companies may appeal to investors who are looking for a balance between long-term potential and short-term returns. CARNIVAL CORPORATION has a strong profitability score, a medium asset score and a weak dividend growth score. In terms of health, CARNIVAL CORPORATION has an intermediate health score of 4/10 with regard to its cashflows and debt, which may indicate that it can maintain future operations in times of crisis. Overall, CARNIVAL CORPORATION has a moderate long-term outlook and may be an attractive option for investors who are looking for a balance between risk and reward. Its fundamentals indicate that it is a suitable option for those looking for steady returns over the long-term. More…
VI 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 has reported impressive financial results for the fourth quarter of fiscal year 2022, ending December 21, 2022. Total revenue for the quarter was USD -1.6 billion, a 38.9% increase from the same period last year, while net income reported was USD 3.8 billion, an increase of 197.7%. This strong performance has been reflected in the stock price of CARNIVAL CORPORATION, which moved up on the same day. Investors in CARNIVAL CORPORATION can be confident that the company is on a positive trajectory. The company’s recent financial results demonstrate that it is able to generate strong revenue and income growth year-over-year. This is especially impressive given the challenging business environment in the current pandemic.
Furthermore, the stock price is responding positively to the news, indicating that investors are bullish on the company’s future prospects. Overall, CARNIVAL CORPORATION looks to be a promising investment opportunity. The company is executing well and achieving strong financial results despite a tough business climate. The stock price has also reacted positively to these results, further reinforcing investor confidence in the company’s outlook. All in all, CARNIVAL CORPORATION appears to be a wise choice for investors looking for a safe and profitable investment.
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