Carnival (US:CCL) The Motley Foolยท2024-12-20 16:55Core Insights - Carnival's fiscal fourth-quarter results for 2024 exceeded expectations, continuing a trend of strong performance in the cruise line industry [1][3][8] - The company has consistently topped earnings expectations over the past two years, with analysts raising price targets for the stock [3][9] - Carnival's adjusted profit for the quarter was significantly higher than previous guidance, showcasing its ability to outperform market predictions [11] Financial Performance - Revenue for the quarter rose 10% to $5.94 billion, surpassing Wall Street projections [10] - Adjusted earnings per share (EPS) reached $0.14, doubling analysts' expectations and marking the sixth consecutive quarter of double-digit percentage beats [11] - Customer deposits for future sailings increased to $6.4 billion, a 7% rise year-over-year, indicating strong demand [6] Market Position - Carnival shares have more than tripled since the beginning of 2023, reflecting investor confidence and strong financial results [9] - The stock is currently trading at less than 15 times projected earnings for the new fiscal year, suggesting it may be undervalued [7] - The company has reduced its debt by over $8 billion in the past two years, positioning itself for continued growth into fiscal 2025 [15] Future Outlook - The near-term outlook for Carnival is promising, with strong bookings for the next two fiscal years [14] - The company is expected to maintain solid performance in the upcoming quarters, supported by favorable market conditions [13][14]