All articles tagged with #carnival corp
Carnival Corp's Q2 results show a significant increase in free cash flow and improved margins, suggesting the stock is undervalued by at least 34%, with potential upside supported by analyst targets and strategic options like shorting puts for lower entry points.
Carnival Corp raised its annual profit forecast, citing a record year of bookings driven by a surge in first-time cruise vacationers and a shift from land-based alternatives. The company reported a 22% jump in first-quarter revenue, with total customer deposits reaching $7 billion and a 30% increase in new-to-cruise customers. Despite cost improvements, the impact of Red Sea disruptions and higher fuel prices led to an adjusted net loss per share of 14 cents, prompting the company to raise its full-year adjusted profit per share forecast to 98 cents.
Carnival Corp raised its 2024 profit forecast due to a surge in bookings for its cruises, driven by high demand for sea-based travel experiences. The company reported a strong first-quarter revenue and expects 2024 to be its best year on record, with total customer deposits reaching an all-time high. Despite a recent bridge collapse and increased cruise costs, Carnival anticipates adjusted profit per share of 98 cents in 2024, up from its previous forecast of 93 cents.
Carnival Corp reports record bookings for the first half of 2024, but anticipates a profit hit due to re-routing vessels to avoid attacks in the Red Sea conflict involving Iranian-backed Houthi Rebels. The company expects an impact of 7 to 8 cents a share in adjusted 2024 earnings, with most of the impact in the second quarter, but overall, it has not seen an impact on booking trends. Despite the conflict, Carnival remains optimistic about its strong booking momentum and expects to outperform during the year.
Carnival Corp, the world's largest cruise line operator, is set to release its fiscal fourth-quarter results this week. Analysts are expecting a loss of $0.13 per share on $5.3 billion in revenue. Despite the anticipated loss, analysts have raised their price targets on Carnival, indicating optimism for a strong report. The cruise industry has been recovering from the COVID-19 crisis, with profitability returning and bookings surpassing pre-pandemic levels. Carnival has a history of surpassing earnings estimates, and positive net income is possible. The company has been paying down debt and is trading at a reasonable valuation.
Carnival Corp, the cruise operator, reported its first quarterly profit since before the COVID-19 pandemic, driven by strong demand and record revenue. However, the company's stock fell in choppy trading as it provided a downbeat outlook for the fourth quarter and revised its fiscal 2023 guidance lower. Despite the positive earnings, Carnival's stock has been on a five-week losing streak and has plunged 20.1% over the past three months.
Carnival Corp's stock rallied on Tuesday, recovering almost all of the losses from the previous day's post-earnings sell-off. Despite reporting better-than-expected Q2 results and raising its full-year outlook, the stock dropped 7.6% on Monday. Analysts found the sell-off perplexing and suggested investors may have cashed in on the strong results they had anticipated. However, the stock jumped 7.5% on Tuesday, with analysts expressing optimism and increasing price targets. Shares of Carnival's rivals, Royal Caribbean Group and Norwegian Cruise Line Holdings, also rallied after Monday's decline.
Carnival Corp's stock jumped after Bank of America upgraded it to Buy from Neutral and raised its price target from $11 to $20, citing stable cruise recovery and higher demand that is trending higher, and in some cases, surpassing pre-pandemic levels. Bank of America also raised price targets for both Royal Caribbean and Norwegian Cruise lines while keeping a Neutral rating on both companies. The cruise industry's long booking window and strong current demand could allow it to be less susceptible to a slowdown in the leisure consumer relative to other areas of travel.
Shares of Carnival Corp and Norwegian Cruise Line Holdings Ltd rose as analysts anticipate continuing growth in travel demand from customers. Bookings across the cruise industry have now reached historical levels without any notable upsurge in cancellations, largely driven by pent-up demand from loyal customers returning to taking summer vacations and other leisure travel. JPMorgan upgraded Carnival shares to "overweight", while Bank of America raised its rating on the stock to "buy", and the analysts raised their price targets on all the three cruise companies.
Lululemon shares surged over 16% after reporting strong holiday quarter earnings and upbeat guidance for the current fiscal year. Carnival Corp was upgraded to positive by Susquehanna, while UBS downgraded major apparel and home goods retailers including Urban Outfitters, Burlington, Foot Locker, and Ross Stores to sell from neutral. Bath & Body Works also saw a downgrade from UBS, citing a recessionary environment. Micron Technology added 2.6% after missing Q2 expectations and announcing a larger-than-anticipated headcount reduction. Paychex Inc. shares were up nearly 3% ahead of fiscal Q3 earnings due after the close on Wednesday. UBS shares rose 2.7% after announcing former CEO Sergio Ermotti will replace current CEO Ralph Hamers.
Carnival Corp reported Q1 FY23 sales of $4.43 billion, beating the consensus of $4.33 billion, with revenue growing 95% from 2019 levels and jumping 173% from the prior year. The company expects FY23 adjusted EBITDA of $3.9 billion - $4.1 billion and an occupancy rate of 100% or higher. Despite the positive results, Carnival shares are trading lower by 0.54% at $9.17.
Carnival Corp's Q1 earnings beat expectations with a net loss of $693 million, citing a "phenomenal" wave booking season with record bookings in North America and Europe. However, the company provided a downbeat outlook for Q2 with an expected per-share loss of 42 cents to 34 cents. Despite this, Carnival's stock surged 4.7% in morning trading.