IB Net Payout Yields Model

Carnival: Focus On Progress, Not Perfection


Update Mar. 28, 2023
After reporting a better than expected quarter, investors shouldn't take the FY23 guidance to heart. The cruise line continues to head back to normal operations with massive profits in the years ahead. Carnival shouldn't be trading near all-time lows. 
  • Q1 Non-GAAP EPS of -$0.55 beats by $0.05.
  • Revenue of $4.43B (+166.7% Y/Y) beats by $130M.
  • Adjusted EBITDA for the first quarter of 2023 was $382 million, better than the December guidance range of $250 million to $350 million, despite a $31 million
  • Outlook:
  • Adjusted EBITDA of $3.9 billion to $4.1 billionIncludes approximately $0.5 billion unfavorable impact from fuel price and currency compared to 2019
  • Sequential improvement in each quarter in adjusted EBITDA per ALBD compared to 2019, driven by closing the gap in occupancy to 2019 levels while achieving net per diems above 2019 levels
Original article posted on March 21. 
  • Carnival Corporation & plc is forecast to report another large loss when reporting FQ1'23 results next week.
  • The large cruise line should provide positive indications of a very profitable summer season.
  • Carnival Corporation stock shouldn't trade below $9 when travel sector stocks are already forecasting a return to record earnings equivalent to $4.40 per share for Carnival.
  • This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » 

The cruise sector is only days away now from re-entering the market of profitable companies. Carnival Corporation & plc (NYSE:CCL) will report FQ1'23 earnings prior to the open on March 27 to provide an indication of

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 


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