Carnival Corp. (CCL) Tops Q3 EPS by 10c

September 29, 2023 9:16 AM EDT

Carnival Corp. (NYSE: CCL) reported Q3 EPS of $0.86, $0.10 better than the analyst estimate of $0.76. Revenue for the quarter came in at $6.85 billion versus the consensus estimate of $6.7 billion.

2023 Outlook

For the full year 2023, the company expects:

  • Adjusted EBITDA of $4.1 billion to $4.2 billion, within the June guidance range, despite the $125 million net unfavorable impact from fuel price and currency from June guidance
  • Occupancy of 100 percent or higher
  • Net per diems (in constant currency) up approximately 7.0 percent compared to 2019, one percentage point higher than the midpoint of June guidance, based on the continued strength in close-in demand
  • Adjusted cruise costs excluding fuel per ALBD (in constant currency) at the high end of June guidance range
  • Fuel consumption per ALBD to be nearly 16 percent lower than 2019, better than previously expected

For the fourth quarter of 2023, the company expects:

  • Adjusted EBITDA of $800 million to $900 million
  • Net yields (in constant currency) up mid-single digits compared to 2019 with occupancy in line with historical levels and net per diems (in constant currency) up 7.0% to 8.0% compared to 2019

For earnings history and earnings-related data on Carnival Corp. (CCL) click here.

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