What's Happening With Carnival (CCL) Shares Thursday
Portfolio Pulse from Henry Khederian
Carnival Corp's (CCL) shares are trading lower by 1.04% following Monday's earnings report. The company reported quarterly losses of 31 cents per share, beating the analyst consensus estimate of a loss of 34 cents. Quarterly sales were $4.91 billion, exceeding the analyst consensus estimate of $4.77 billion by 2.96%. Adjusted FY23 EBITDA is projected to be between $4.10 billion and $4.25 billion, surpassing the previously guided range. However, there is an estimated unfavorable impact of approximately $0.5 billion from fuel price and currency compared to 2019.
June 29, 2023 | 6:53 pm
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NEGATIVE IMPACT
Carnival Corp's shares are trading lower despite beating earnings and sales estimates. The company's FY23 EBITDA projection surpasses previous guidance but faces an estimated $0.5 billion impact from fuel price and currency.
Carnival Corp's shares are trading lower despite positive earnings report, which typically would drive the stock price up. However, the company's projection of an unfavorable impact from fuel price and currency could be causing investor concern, leading to the stock price decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100