CARNIVAL CORPORATION Reports Third Quarter FY2023 Earnings Results for August 31, 2023

🌥️Earnings Overview

CARNIVAL CORPORATION ($NYSE:CCL) released its FY2023 third-quarter earnings report on September 29 2023, reporting total revenue of USD 6854.0 million, a 59.2% increase from the same period in the previous year. Net income was also significantly higher than last year’s report of -770.0 million, coming in at USD 1074.0 million.

Market Price

CARNIVAL CORPORATION, a global cruise line operator, released its third quarter FY2023 earnings results for August 31, 2023 on Friday. The results indicated that the stock opened at $14.6 and closed at $13.7, a decline of 5.0% from its previous closing price of 14.4. The earnings report also revealed a positive outlook for the company with increased revenue and net income compared to the previous quarter. CARNIVAL CORPORATION’s management team expects that the company’s strong performance will continue to increase in future quarters.

The company believes that its new initiatives and investments in technology, digital marketing, and consumer experience are expected to benefit the company’s financial performance in the near future. The company’s management is confident that their new initiatives will continue to improve their financial outlook in the near future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Carnival Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Carnival Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Carnival Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Carnival Corporation are shown below. More…

Analysis

At GoodWhale, we analyzed the financials of CARNIVAL CORPORATION and gave it a Risk Rating of ‘Medium’. This Risk Rating takes into account the financial and business aspects of the company. We have detected 2 risk warnings in the income sheet and cashflow statement, so if you want to take a more detailed look at these, become a registered user. 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 results for the third quarter of FY2023, with total revenue increasing 59.2%. Net income registered a positive reading of USD 1074.0 million, a significant improvement from the -770.0 million reported in the previous year. Despite the improved performance, the stock price went down on the same day, likely due to investor expectations of higher results. While the company has shown great potential in terms of financial performance, investors should exercise caution when investing in CARNIVAL CORPORATION and analyze future developments closely to make an informed decision.