Why Is Cruise Operator Carnival Cruise Stock Creating Waves Today?
Portfolio Pulse from Lekha Gupta
Carnival Corp (NYSE:CCL) (NYSE:CUK) shares surged approximately 7% following its Q4 FY23 earnings report. The company surpassed sales expectations with $5.397 billion against a $5.306 billion consensus. Passenger Cruise Days increased, and a record $6.4 billion in customer deposits was achieved. Operating income turned positive at $384 million compared to a loss last year, and adjusted EBITDA of $946 million exceeded guidance. Adjusted EPS loss was smaller than expected. The company forecasts strong Q1 adjusted EBITDA and a rise in net yields, with a positive outlook for FY24.
December 21, 2023 | 5:10 pm
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POSITIVE IMPACT
Carnival Corp's Q4 earnings beat, record customer deposits, and positive FY24 outlook suggest a strong performance, driving a 7% stock increase.
Carnival's positive earnings report and optimistic future projections, including nearly two-thirds of 2024 occupancy already booked at higher prices, indicate a robust recovery and financial health, likely leading to continued investor confidence and potential stock price increase in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Carnival PLC (CUK) shares, representing Carnival Corp in the UK, also likely benefited from the positive Q4 earnings report and outlook.
Carnival PLC's stock is expected to mirror the positive movement of Carnival Corp's shares due to the shared financial and operational performance reported, which has shown significant improvement and exceeded market expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100