Carnival Stock Is Sliding Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Carnival Corp (NYSE:CCL) reported better-than-expected Q2 results with revenue of $4.91 billion and an adjusted loss of 31 cents per share. The company saw increased booking demand and positive operating income for the first time since resuming guest cruise operations. However, gross margin yields were down and cruise costs increased 13.5% compared to 2019 levels. Carnival expects Q3 adjusted EBITDA of $2.05 billion to $2.15 billion and full-year adjusted EBITDA between $4.1 billion and $4.25 billion.
June 26, 2023 | 2:10 pm
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Carnival Corp reported better-than-expected Q2 results, increased booking demand, and positive operating income. However, the stock is down 5.12% as gross margin yields were down and cruise costs increased.
Carnival Corp's better-than-expected Q2 results and increased booking demand are positive signs for the company. However, the stock is down due to lower gross margin yields and increased cruise costs, which may negatively impact the company's profitability in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100