CAPEX.com
CAPEX.com

Article Hero

Carnival jumps on positive third-quarter results and outlook

1632750754.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
06 October 2021
One of the world’s most popular cruises lines posted quarterly results that show its recovery from the pandemic's effects

Carnival revealed that it ended Q3 with $7.8 billion of liquidity, which it believes will be enough to return to entire cruise operations. As the end of August, eight out of nine Carnival's brands have resumed their activity as part of a step-by-step return to service following the height of the COVID-19 pandemic.

Despite the current constraints, the revenue per passenger cruise in the third quarter was up compared to "a strong 2019." Moreover, from June to August 2021, occupancy rose from 39% to 59%.

Regarding the situation, CEO Arnold Donald stated the following: "We are very glad to be back doing what we do best, delivering memorable vacation experiences for our guests. Even at this early stage with intentionally constrained occupancy levels, our voyages are already cash-flow positive."

After the news hit the wires, Carnival share price was up 2.5%.

Source: thestreet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.