Carnival Sees Q2 Net Yields (In Constant Currency) Up ~10.5% Compared To 2023 Levels; Adjusted EBITDA Of ~$1.05B, Over 50% Growth Compared To Q2 2023
Portfolio Pulse from Benzinga Newsdesk
Carnival forecasts a significant improvement in its financial performance for Q2 2024, with net yields expected to increase by approximately 10.5% compared to 2023, despite the unfavorable impact of Red Sea rerouting. Occupancy is anticipated to be at historical levels. Adjusted cruise costs excluding fuel per ALBD are projected to rise by about 3.0% from Q2 2023, also affected by the Red Sea rerouting. The company predicts its adjusted EBITDA to reach around $1.05 billion, marking over 50% growth from the same quarter in 2023.
March 27, 2024 | 1:48 pm
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POSITIVE IMPACT
Carnival Corporation (CCL) anticipates a significant increase in Q2 2024 net yields by ~10.5% compared to 2023, with adjusted EBITDA expected to grow over 50% to ~$1.05B.
The positive forecast for net yields and a significant increase in adjusted EBITDA directly impact Carnival Corporation's financial health and investor confidence, likely leading to a positive short-term impact on CCL's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Carnival plc (CUK) is expected to see a positive impact from the parent company's forecast of increased net yields by ~10.5% and over 50% growth in adjusted EBITDA to ~$1.05B for Q2 2024.
As a part of the Carnival Corporation & plc, Carnival plc (CUK) is likely to benefit from the overall positive financial forecast of the group, including the significant growth in adjusted EBITDA and net yields, positively affecting CUK's stock in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90