Carnival Corp CCL will report second-quarter (Q2) earnings on Tuesday. Wall Street expects -20 cents in EPS and $5.7 billion in revenues as the company reports before market hours.
Carnival is enjoying record demand and exceeding expectations across metrics. It's still recovering from the pandemic with high debt and net losses.
The market rally so far has been what anyone would have expected just a year back. I wouldn't be surprised if it drags on and, the S&P 500 crosses 6,000 points, and the Nasdaq goes above 20,000 by the end of the year.
Carnival Corporation CCL will release earnings results for its second quarter, before the opening bell on Tuesday.
Carnival reports its fiscal second-quarter results before the market opens on Tuesday. Analysts see dramatic bottom-line improvement on a 16% year-over-year jump in revenue.
Revenge travel or the concept of making up for lost time due to the Covid-19 disruption may have expired. But that doesn't necessarily spell doom for travel stocks to buy.
Carnival Corporation's unmoving stock price over the past quarter is hardly surprising going by its market multiples. But can things change with the Q2 2024 results due soon? The company's expected to continue making progress, to be sure. Revenue growth, improved EBITDA margins and possibly even an adjusted net income are expected. The company's upgraded guidance for 2024 is encouraging, too. If its results turn out better than anticipated, guidance can improve again, which can be good for the stock.
Carnival is trading for less than five times what analysts see it earning in 2030. Roku is expected to be profitable by 2027, and some recent shortcomings can be overcome sooner.
Cruise operator Carnival Corp (NYSE:CCL) has faced several obstacles in the first half of the year, according to Hargreaves Lansdown. The temporary closure of its Baltimore port after a cargo ship collided with a bridge and the conflict in the Red Sea were just two, said the wealth platform.
CCL continues to trade sideways over the past few months, with the converging uptrend implying near-term uncertainties and decelerating buying momentum. This is despite the cruise liner's robust booking trends, growing customer deposits, higher net yields, and expanding Free Cash Flow generations. Much of the headwinds may be attributed to CCL's hefty debts and elevated interest expenses, with the Fed's uncertain pivot posing challenges for its bottom-line improvement.
It's been smooth sailing for most cruise stocks to buy now. Companies like Norwegian Cruise Lines (NYSE: NCLH ) report record bookings thanks to booming demand.
Get a deeper insight into the potential performance of Carnival (CCL) for the quarter ended May 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.