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Carnival jumps on positive third-quarter results and outlook

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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

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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.