Why Carnival Stock Jumped 17.7% This Week [Yahoo! Finance]
Carnival Corporation (CCL)
Last carnival corporation earnings: 4/3 12:51 pm
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Source: Yahoo! Finance
The bottom-line bump Carnival's revenue jumped 17.7% to $5.78 billion and earnings per share jumped from a loss of $0.31 a year ago to $0.11. But the bigger news was guidance. Management now expects 2024 net yields to increase 10.25%, up from guidance for 9.5% given in March. And adjusted net income guidance increased by $275 million to $1.55 billion. Customer deposits jumped to $8.3 billion, $1.1 billion better than ever recorded. Carnival's improvement balanced by debt Operating conditions are clearly improving at Carnival, but the company's debt is still a challenge. The balance sheet still holds $29.4 billion of debt and interest expense is at a nearly $2 billion run rate. The customer deposit increase is solid, but the company is using deposits to pay down debt given there's just $1.6 billion of cash on the balance sheet. If the event of a downturn in the economy or bookings, that could quickly turn into a situation that requires more capital to survive. The market
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CCL
News
- Strong Booking Trends Aid Carnival (CCL) Amid High Costs [Yahoo! Finance]Yahoo! Finance
- Love by Britto High-End Specialty Restaurant Officially Opens Onboard New Sun PrincessPR Newswire
- Decoding Carnival Corp (CCL): A Strategic SWOT Insight [Yahoo! Finance Canada]Yahoo! Finance Canada
- Carnival Co. & plc (NYSE: CCL) had its price target raised by analysts at Bank of America Co. from $23.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Carnival Co. & plc (NYSE: CCL) had its price target raised by analysts at Argus from $20.00 to $25.00. They now have a "buy" rating on the stock.MarketBeat
CCL
Earnings
- 6/25/24 - Beat
CCL
Sec Filings
- 5/29/24 - Form SD
- 4/10/24 - Form 4
- 4/10/24 - Form 4
- CCL's page on the SEC website