Cruise stocks had a strong performance in 2024 as demand continued soaring in key markets. Carnival stock has risen in the last four consecutive months, and is hovering at its highest level since June 2021.
Peak occupancy, higher pricing and increasing onboard spend is leading to upgrades in the earnings outlook. There are indications of greater fuel consumption efficiency. Investments in new ships over the next 10 years can drive long-term gross margin improvement via energy efficiency. Valuations are at an attractive 11.5% discount vs comps.
Carnival (CCL) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to loss of $0.07 per share a year ago.
CCL's fiscal fourth-quarter top line benefits from sustained demand strength and increased booking volumes.
Carnival Corporation & plc (NYSE:CCL ) Q4 2024 Earnings Conference Call December 20, 2024 10:00 AM ET Company Participants Beth Roberts - SVP, IR Josh Weinstein - CEO David Bernstein - CFO Conference Call Participants Matthew Boss - JPMorgan Ben Chaiken - Mizuho Securities Steve Wieczynski - Stifel Robin Farley - UBS James Hardiman - Citi Patrick Scholes - Truist David Katz - Jefferies Jaime Katz - Morningstar Brandt Montour - Barclays Operator Greetings, and welcome to the Carnival Corporation & plc Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
Josh Weinstein, Carnival Corporation CEO, joins 'Money Movers' to discuss the company's quarterly earnings results, the company's costs, and much more.
Although the revenue and EPS for Carnival (CCL) give a sense of how its business performed in the quarter ended November 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
The last earnings report out of the cruise line industry for the 2024 calendar year shows that folks still can't get enough of watery escapes. Carnival (CCL 5.02%) (CUK 5.10%) posted its fiscal fourth-quarter results on Friday morning, and it once again exceeded expectations.
Carnival PLC (LSE:CCL) chief executive Josh Weinstein said the cruise business had seen an incredibly strong finish to a record year as revenues rose to a new record of US$25 billion. Underlying profits were also a record at US$6.1 billion, or more than 40% higher than a year ago, Weinstein said while net income of US$1,9 billion beat guidance by US$130 million.
Carnival's stock rallies as bookings for future cruises keep breaking records, and at all-time highs for price and occupancy.
The travel stock looks set to chart a smooth course for the coming year. Management said it expects net income to rise 20% in 2025.
Carnival Corp beat fourth-quarter revenue estimates on Friday, helped by resilient demand for its pricier voyages from Americans eager to go on summer cruises, sending its shares up about 4% in premarket trading.