Carnival Sees Q2 EPS ~$(0.03) Vs $(0.03) Est.; FY23 EPS ~$0.98 Vs $0.99 Est.
Portfolio Pulse from Benzinga Newsdesk
Carnival Corporation forecasts Q2 EPS of approximately $(0.03), aligning with estimates, and a full-year 2023 EPS of ~$0.98, slightly below the $0.99 estimate. The company anticipates capacity growth of 5.4% in Q2 2024 and 4.5% for the full year, with fuel expenses, including EUA, expected to reach $2.0 billion. Adjusted EBITDA is projected at approximately $5.63 billion for 2024, with an adjusted net income of about $1,280 million.
March 27, 2024 | 1:42 pm
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NEUTRAL IMPACT
Carnival Corporation (CCL) forecasts a Q2 EPS of approximately $(0.03) and a full-year 2023 EPS of ~$0.98, slightly below expectations. The company anticipates significant capacity growth and fuel expenses, with a strong adjusted EBITDA projection for 2024.
The EPS forecast for Q2 aligns with estimates, indicating stability, while the slight miss on the full-year forecast might concern some investors. However, the anticipated capacity growth and detailed financial projections for 2024, including a strong adjusted EBITDA, suggest a positive outlook for the company's operational efficiency and cost management. This mixed news is likely to have a neutral short-term impact on CCL's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Carnival plc (CUK) shares are indirectly impacted by Carnival Corporation's financial forecasts, including a Q2 EPS of approximately $(0.03) and a full-year 2023 EPS of ~$0.98, slightly below expectations, along with anticipated capacity growth and fuel expenses.
As Carnival plc (CUK) is part of the Carnival Corporation & plc entity, financial forecasts and operational metrics reported by Carnival Corporation directly impact CUK. The EPS forecasts and financial projections for 2024, including capacity growth and fuel expenses, are relevant for CUK investors. However, the direct impact on CUK's stock might be slightly less pronounced than on CCL due to the shared operational and financial dynamics within the dual-listed company structure. Thus, a neutral short-term impact is anticipated.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80