Carnival Corp. (CCL) demand fuels earnings, revenue beat
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Carnival's fuel costs overshadow better annual forecast on cruise boom
September 29, 2023 9:25 AM EDTBy Juveria Tabassum
(Reuters) -Cruise operator Carnival narrowed its annual loss forecast and swung to a third-quarter profit thanks to higher ticket pricing and robust demand, but concerns around steep fuel costs sent its shares down 5% on Friday.
Rivals Norwegian Cruise Lines and Royal Caribbean have also been able to raise ticket prices and still stay cheaper than hotels, drawing younger crowds looking to splurge on experiences rather than big-ticket discretionary purchases.
"Fear around inflation, shrinking consumer savings, student loan repayments, and other spending... More
Carnival Corp. (CCL) Tops Q3 EPS by 10c
September 29, 2023 9:16 AM EDTCarnival 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... More