Carnival Corporation Reports Q4 Earnings for FY2023
December 26, 2023
🌥️Earnings Overview
Carnival Corporation ($NYSE:CCL) announced its earnings results for the quarter ending on November 30 2023 on December 21 2023. The corporation reported total revenue of USD 5396.0 million, a 40.6% year-over-year increase. Net income was recorded at USD -48.0 million, significantly better than the -1598.0 million from the same period a year prior.
Market Price
Carnival Corporation reported its fourth-quarter earnings for fiscal year 2023 on Thursday. The company’s stock opened at $18.5 and closed at $19.2, a 6.2% increase from the previous closing price of 18.1. This marks a significant gain for the company, which had been suffering from a drop in revenue due to the global pandemic. Carnival Corporation attributed the strong performance to cost-saving measures implemented during the pandemic, such as cutting back on fuel expenses and decreasing operating costs. The company also noted that the demand for cruising has increased significantly over the last few months, as more people have become vaccinated against the virus.
Bookings for the upcoming fiscal year have already exceeded expectations, and Carnival Corporation is optimistic about the future of the industry. Overall, Carnival Corporation had a successful quarter and demonstrated the power of its cost-saving strategies during a difficult time. The company is now looking towards the future with optimism and confidence in its ability to continue providing high-quality experiences for its customers. 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 |
| 21.59k | -74 | 0.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carnival Corporation. More…
| Operations | Investing | Financing |
| 3.24k | -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 |
| 49.12k | 42.24k | 5.27 |
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 |
| 56.9% | 2.2% | 9.3% |
| FCF Margin | ROE | ROA |
| -2.5% | 18.1% | 2.5% |
Analysis
GoodWhale has analyzed CARNIVAL CORPORATION‘s financials, and found that its Star Chart indicates it is strong in asset, medium in profitability and weak in dividend, growth. We have classified CARNIVAL CORPORATION as a ‘cheetah’, a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. This could be of interest to investors who are looking for high returns and understand the associated risks. However, CARNIVAL CORPORATION has a low health score of 2/10 with regard to its cashflows and debt, meaning it is less likely to be able to pay off debt or fund future operations. Investors should take this into consideration when making their investment decisions. 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 financial performance for its Q4 of FY2023, with total revenue of USD 5396.0 million, a 40.6% increase year-over-year. Net income was recorded at USD -48.0 million, a significant improvement over the previous year’s figure of -1598.0 million. The positive news caused an immediate jump in the company’s stock price.
For investors, this could represent an attractive opportunity to capitalize on the company’s potential for further growth. With CARNIVAL CORPORATION’s improved financials, it may be prudent to consider investing in the company and taking advantage of its potential for long-term returns.
Related Posts
Recent Posts
