RCL - Can Carnival Stock Cruise Higher After Q1 Earnings? | Benzinga
Carnival Corp (NYSE:CCL) will report its first-quarter earnings on Wednesday, March 27, and while the company hasn’t yet fully recovered from the effects of the COVID-19 pandemic, like its sector rivals, Carnival is seeing strong growth in demand.
Carnival stock navigated extremely rough waters in the past four years, but revenues are rising and losses are easing.
The company said in its 2023 annual report that full-year revenues hit a record $21.6 billion and that it entered 2024 with its “best-booked position on record” for both price and occupancy.
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However, the company is still struggling for profitability as its costs have risen and it repays the large debt pile accumulated during the pandemic. While operating profit rose significantly to $1.91 billion, it recorded a net loss of $74 million — although this was massively reduced from the ...