Carnival Q1: Fuel Costs Drive Guidance Cut Despite $2.5B Buyback, Record Deposits
CCL sits 60% above its 52-week low of $15.07 on elevated volume (1.8× avg).
Summary
Carnival Corp. reported its Q1 results, revealing revenue of $6.17 billion, adjusted EBITDA of $1.27-$1.30 billion, and adjusted EPS of $0.19-$0.20. The company also announced a new $2.5 billion share buyback program and reported record Q1 customer deposits near $8 billion, alongside strong bookings and high fares. However, the company cut its full-year adjusted EPS outlook to $2.21, citing increased fuel costs due to the Middle East conflict and higher Brent crude prices. This comprehensive earnings report provides the full context for the previously announced buyback and guidance cut, highlighting the significant impact of rising fuel expenses on profitability despite strong operational performance.
At the time of this announcement, CCL was trading at $24.18 on NYSE in the Trade & Services sector, with a market capitalization of approximately $33.5B. The 52-week trading range was $15.07 to $34.03. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.