For the quarter ended August 2024, Carnival (CCL) reported revenue of $7.9 billion, up 15.2% over the same period last year. EPS came in at $1.27, compared to $0.86 in the year-ago quarter.The reported revenue represents a surprise of +1.04% over the Zacks Consensus Estimate of $7.81 billion. With the consensus EPS estimate being $1.17, the EPS surprise was +8.55%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectati ...

The largest cruise line operator tops its earlier guidance and raises the bar.The coast is clear for Carnival (CCL -3.45%) (CUK -3.85%) investors who were holding out for fresh financials to kick off the new trading week. The world's largest cruise line operator delivered a solid report for its fiscal third-quarter results on Monday morning, topping expectations on both ends of the income statement.The strong performance isn't really a surprise. A record $8.3 billion in customer deposits at the end of May a ...

Revenue Growth - Passenger ticket revenues increased by $693 million, or 15%, to $5.2 billion in 2024 from $4.5 billion in 2023, driven by strong demand and higher ticket prices [117]. - Onboard and other revenues rose by $349 million, or 15%, to $2.7 billion in 2024 from $2.3 billion in 2023, attributed to higher onboard spending and increased occupancy [118]. - The NAA segment's passenger ticket revenues increased by $480 million, or 16%, to $3.4 billion in 2024 from $3.0 billion in 2023, supported by a 10% capacity increase in ALBDs [119]. - Passenger ticket revenues increased by $2.1 billion, or 19%, to $12.6 billion in 2024 from $10.6 billion in 2023, comprising 66% of total revenues [128]. - The Europe segment's passenger ticket revenues increased by $784 million, or 21%, to $4.5 billion in 2024 from $3.7 billion in 2023 [130]. Capacity and Occupancy - The company experienced a 6.2% capacity increase in ALBDs for the three months ended August 31, 2024, compared to the same period in 2023 [112]. - Occupancy percentage improved to 112% for the three months ended August 31, 2024, up from 109% in the same period of 2023 [111]. - The company reported a 2.9 percentage point increase in occupancy for passenger ticket revenues, contributing to revenue growth [117]. Operating Expenses and Income - Operating expenses increased by $1.1 billion, or 10%, to $11.8 billion in 2024 from $10.7 billion in 2023, driven by a 5.3% capacity increase in ALBDs [131]. - Consolidated operating income increased by $1.4 billion to $3.0 billion in 2024 from $1.6 billion in 2023 [136]. - The NAA segment's operating income increased by $781 million to $2.2 billion in 2024 from $1.5 billion in 2023 [136]. Financial Position and Cash Flow - The working capital deficit increased to $8.6 billion as of August 31, 2024, compared to $6.2 billion as of November 30, 2023 [140]. - Net cash flows from operating activities increased by $1.7 billion to $5.0 billion during the nine months ended August 31, 2024, compared to $3.4 billion for the same period in 2023 [141]. - Capital expenditures for the nine months ended August 31, 2024, were $4.0 billion, primarily for the delivery of new ships [142]. - As of August 31, 2024, the company had $4.5 billion in liquidity, including $1.5 billion in cash and cash equivalents and $3.0 billion in borrowings available under the Revolving Facility [145]. Debt and Financial Compliance - The company is in compliance with all applicable covenants under its debt agreements as of August 31, 2024 [146]. - 62% of the company's debt is at a fixed rate, with 23% in EUR fixed rate, 3% in floating rate, and 11% in EUR floating rate [149]. - There have been no off-balance sheet arrangements that could materially affect the company's consolidated financial statements [147]. - The company has not experienced any material changes in its exposure to market risks since the last reporting period [148]. Regulatory and Market Risks - The company is facing risks from geopolitical uncertainties, inflation, and climate change, which could adversely affect future financial results [102]. - The company anticipates a potential annual impact of approximately $200 million from a global minimum tax expected to take effect in 2026 [109]. - The EU ETS will impact the company starting January 1, 2024, with an estimated cost of approximately $50 million in 2024 [109]. Internal Controls and Legal Proceedings - There have been no changes in internal control over financial reporting that materially affected the company during the quarter ended August 31, 2024 [151]. - The company's disclosure controls and procedures have been evaluated and deemed effective as of August 31, 2024 [150]. - Legal proceedings related to regulatory inquiries and investigations are referenced in the company's consolidated financial statements [153]. Interest Expense - Interest expense decreased by $248 million, or 16%, to $1.4 billion in 2024 from $1.6 billion in 2023 due to a decrease in total debt and lower average interest rates [137].

Carnival (CCL) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $0.86 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.55%. A quarter ago, it was expected that this cruise operator would post a loss of $0.01 per share when it actually produced earnings of $0.11, delivering a surprise of 1,200%.Over the last four quarters, the company has ...

Financial Performance - Third quarter net income was $1.7 billion, a 60% increase compared to 2023, and adjusted net income outperformed June guidance by $170 million[2] - Record operating income of $2.2 billion exceeded 2023 levels by $554 million, a 34% increase[4] - Net income for Q3 2024 reached $1.735 billion, significantly higher than $1.074 billion in Q3 2023, a 61.5% growth[26] - Operating income for Q3 2024 was $2.178 billion, compared to $1.624 billion in Q3 2023, a 34.1% rise[26] - Net income increased from $1.074 billion in August 2023 to $1.735 billion in August 2024[31] - Adjusted EBITDA increased from $2.221 billion in August 2023 to $2.822 billion in August 2024[31] Revenue Growth - Third quarter revenues reached an all-time high of $7.9 billion, up $1.0 billion compared to the prior year[2] - Passenger ticket revenue increased to $5.239 billion in Q3 2024, up from $4.546 billion in Q3 2023, representing a 15.2% growth[26] - Onboard and other revenue rose to $2.657 billion in Q3 2024, compared to $2.308 billion in Q3 2023, a 15.1% increase[26] - Total revenues for the nine months ended August 31, 2024, were $19.083 billion, up from $16.197 billion in the same period in 2023, a 17.8% increase[26] Cost Management - Adjusted cruise costs excluding fuel per ALBD (in constant currency) decreased compared to 2023 and were significantly better than June guidance[4] - Adjusted cruise costs per ALBD for the three months ended August 31, 2024, were $124.44, a 0.2% increase compared to the same period in 2023[36] - Adjusted cruise costs excluding fuel per ALBD for the three months ended August 31, 2024, were $103.97, a 0.4% decrease compared to the same period in 2023[36] - Adjusted cruise costs for the nine months ended August 31, 2024, were $9,430 million, compared to $8,817 million in the same period in 2023[36] - Adjusted cruise costs per ALBD for the nine months ended August 31, 2024, were $131.56, a 1.6% increase compared to the same period in 2023[36] - Adjusted cruise costs excluding fuel per ALBD for the nine months ended August 31, 2024, were $110.00, a 2.2% increase compared to the same period in 2023[36] Debt and Liquidity - The company prepaid $625 million of debt in Q3 2024, bringing total prepayments to $7.3 billion since the beginning of 2023[9] - Cash and cash equivalents decreased to $1.522 billion as of August 31, 2024, from $2.415 billion as of November 30, 2023[27] - Long-term debt reduced to $26.642 billion as of August 31, 2024, from $28.483 billion as of November 30, 2023[27] - Liquidity decreased from $5.392 billion in November 2023 to $4.519 billion in August 2024[28] - Debt decreased from $30.572 billion in November 2023 to $28.856 billion in August 2024[28] - Cash from operations decreased from $1.834 billion in August 2023 to $1.205 billion in August 2024[32] Customer Deposits and Bookings - Total customer deposits reached a third quarter record of $6.8 billion, surpassing the previous third quarter record of $6.3 billion as of August 31, 2023[4] - Customer deposits increased to $6.436 billion as of August 31, 2024, up from $6.072 billion as of November 30, 2023[27] - Cumulative advanced bookings for full year 2025 are above the previous 2024 record with prices (in constant currency) ahead of prior year[6] Operational Metrics - Passenger cruise days (PCDs) increased from 25.8 million in August 2023 to 28.1 million in August 2024[29] - Occupancy percentage increased from 109% in August 2023 to 112% in August 2024[29] - Passengers carried increased from 3.6 million in August 2023 to 3.9 million in August 2024[29] - ALBDs (Available Lower Berth Days) for the three months ended August 31, 2024, were 25.2 million, compared to 23.7 million in the same period in 2023[36] - ALBDs for the nine months ended August 31, 2024, were 71.7 million, compared to 68.1 million in the same period in 2023[36] Earnings and Margins - Earnings per share (diluted) for Q3 2024 were $1.26, up from $0.79 in Q3 2023, a 59.5% increase[26] - Gross margin per diems increased by 16% from $90.45 in August 2023 to $104.49 in August 2024[34] - Net yields increased by 8.7% from $215.22 in August 2023 to $233.87 in August 2024[34] Fuel Expenses - Fuel expenses rose to $515 million in Q3 2024, compared to $468 million in Q3 2023, a 10% increase[26] Non-GAAP Financial Measures - Adjusted EBITDA for full year 2024 is expected to be approximately $6.0 billion, up over 40% compared to 2023 and better than June guidance by nearly $200 million[2][7] - Adjusted return on invested capital ("ROIC") for full year 2024 is expected to be approximately 10.5%, an improvement of approximately 5.0 percentage points compared to 2023[7] - Adjusted free cash flow for 2024 is expected to be over $3.0 billion[9] - The company uses non-GAAP financial measures such as adjusted net income, adjusted EBITDA, and adjusted free cash flow to assess performance and liquidity[37] - Constant currency reporting removes the impact of exchange rate changes to provide a comparative view of business performance[45] Cruise and Tour Operating Expenses - Cruise and tour operating expenses for the three months ended August 31, 2024, were $4,303 million, compared to $3,921 million in the same period in 2023[36]

The largest cruise line operator has a big earnings report to announce before the next opening bell.This may be the lull before earnings season starts up in earnest in a few weeks, but that doesn't mean that there's a moratorium on financial updates. Carnival (CCL 0.80%) (CUK 0.88%) reports its fiscal third-quarter results before the market opens on Monday.The final trading day of the month -- and quarter -- won't be sleepy. Carnival's report covers the months of June, July, and August. This is the peak tra ...

Carnival Corporation & plc (CCL) is scheduled to release third-quarter fiscal 2024 results on Sept. 30, 2024.In the second quarter of fiscal 2024, Carnival reported stellar performance, with earnings per share (EPS) of 11 cents, beating the Zacks Consensus Estimate by 1200%. The reported figure also increased from the year-ago period’s loss of 31 cents per share. Revenues of $5.8 billion, slightly came ahead of the consensus mark of $5.7 billion and increased 17.7% on a year-over-year basis. Sustained deman ...

U.S. stock markets have been witnessing an impressive rally since the beginning of 2023 barring some minor hurdles. Wall Street’s bull run has got an added boost this year, to the surprise of a large section of financial pandits, who indiscriminately warned of overvaluation. Year to date, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — have advanced 11.8%, 21.1%, and 23.2%, respectively. Despite this strong northbound movement, more than 150 stocks within the broad-market ind ...

Carnival Corporation CCL will release earnings results for its third quarter, before the opening bell on Monday, Sept. 30.Analysts expect the Miami, Florida-based company to report quarterly earnings at $1.16 per share, up from 86 cents per share in the year-ago period. Carnival projects to report revenue of $7.83 billion for the quarter, according to data from Benzinga Pro.Carnival, last month, unveiled new itineraries for seven ships sailing in 2026 and 2027 from Miami, Port Canaveral, Galveston, and Balt ...

Is this range-bound cruise stock going to break out to new highs?Carnival (CCL 3.38%) will report earnings results for the fiscal third quarter on Sept. 30. Despite strong demand for cruise vacations, the shares have been range-bound this year, but Stifel Financial analyst Steven Wieczynski believes a better-than-expected earnings release could send the stock higher.The analyst kept a buy rating on the shares and raised his price target from $25 to $27, representing upside of 44% from the current share pric ...