Cruise operator beats expectations and expects continued growth

  • Carnival’s stock surges after beating expectations
  • Net losses for the quarter narrowed to $48 million
  • Revenue jumped 40.6% to $5.397 billion
  • Passenger ticket revenue climbed 54.7% to $3.510 billion
  • Onboard and other revenue rose 20.1% to $1.886 billion
  • Carnival expects adjusted earnings of $5.6 billion for fiscal 2024
  • Stock has rocketed 124.2% year to date

Shares of Carnival Corp. surged 1.8% in premarket trading after the cruise operator reported fiscal fourth-quarter results that beat expectations. Net losses for the quarter narrowed to $48 million, while revenue jumped 40.6% to $5.397 billion. Passenger ticket revenue climbed 54.7% to $3.510 billion, and onboard and other revenue rose 20.1% to $1.886 billion. Carnival expects adjusted earnings of $5.6 billion for fiscal 2024. The stock has rocketed 124.2% year to date, marking its best yearly performance since going public in 1987.

Public Companies: Carnival Corp. (CCL)
Private Companies:
Key People: Josh Weinstein (Chief Executive)

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Factuality Level: 8
Justification: The article provides specific financial information about Carnival Corp’s fiscal fourth-quarter results, including net losses, adjusted per-share loss, and revenue figures. It also includes a quote from the Chief Executive. The information is based on the company’s official report and is supported by FactSet consensus data. However, the article does not provide any opposing viewpoints or potential risks, which could affect the overall factuality level.

Noise Level: 7
Justification: The article provides information on Carnival Corp’s fiscal fourth-quarter results and full-year profitability outlook. It includes specific figures and compares them to expectations. However, it lacks analysis of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Carnival Corp. (CCL) and the cruise industry

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Carnival Corp. and its impact on the cruise industry. There is no mention of any extreme events.

Reported publicly: www.marketwatch.com