Carnival Corp. (CCL) Tops Q3 EPS by 10c
Carnival Corp. (NYSE: CCL) reported Q3 EPS of $1.27, $0.10 better than the analyst estimate of $1.17. Revenue for the quarter came in at $7.89 billion versus the consensus estimate of $7.82 billion.
2024 Outlook
For the full year 2024, the company expects:
- Net yields (in constant currency) up approximately 10.4 percent compared to 2023, better than June guidance, based on continued strength in demand.
- Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.5 percent compared to 2023, approximately 1 percentage point better than June guidance driven by cost saving opportunities, accelerated easing of inflationary pressures and benefits from one-time items.
- Adjusted EBITDA of approximately $6.0 billion, up over 40 percent compared to 2023 and better than June guidance by nearly $200 million.
- Adjusted return on invested capital ("ROIC") of approximately 10.5 percent, an improvement of approximately 5.0 percentage points compared to 2023 and half a point better than June guidance.
- For the fourth quarter of 2024, the company expects:
- Net yields (in constant currency) up approximately 5.0 percent compared to particularly strong 2023 levels.
- Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 8.0 percent compared to the fourth quarter of 2023 due primarily to higher dry-dock days and higher investment in advertising.
- Adjusted EBITDA of approximately $1.14 billion, up 20 percent compared to the fourth quarter of 2023.
- See "Guidance" and "Reconciliation of Forecasted Data" for additional information on the company's 2024 outlook.
For earnings history and earnings-related data on Carnival Corp. (CCL) click here.